I see people yelling "Get out now or lose everything"
are you seeing that much of this, especially from bigger "crypto advocates"? Because as @pheliment wrote: "It seems like a lot of people that know more than me about cryptos are all suggesting the same thing. Maybe I should get serious and pull the trigger soon."
and that's one thing that rather concerns me, is that I am also seeing quite a few posts with people saying "no way bitcoin goes below xxx", "down here it's a steal", "start loading the boat". That's not generally how bottoms are formed.
The majority must always be wrong, and going into "the low", the vast majority will have likely (once again) given up on crypto altogether. And once that happens, well now you may have just gotten the "fuel" needed to take it back up again.
Just to be clear, I'm not saying buys here won't eventually work out. However, I've bought stocks at $10, that still went down to $2, before trading at $50 several years later (and some that didn't), especially back in 2009 and 2011 when the "baby was being tossed out with the bath water".
As I mentioned in my last post, that's why risk management and position size is so critical when trading and investing. Your level of "exposure" is one of the few things you can control in the markets (and in life).
And from my perspective, the more steemians who appreciate, respect, and understand this dynamic, the stronger the foundation we have to build upon.
You make tons of sense.. I posted many times, just take small positions (accumulation). Worse case scenario, bitcoin can go back to $1000. People also need to realize that "picking bottoms" is no way to play this game.
I also stress to people that, don't get emotional. The "market" is going to do what it wants.
We are one the same page @alexpmorris . Great comment and hope the people ready this :)