In a bull market everyone you talk to thinks is a genius trader invester.
It looks so funny to see people bullshit on Bitcoin saying to keep them for a while, as gold or commodity. In reality if you believe in Bitcoin you should spend it as you do with Dollars (cash, papermoney)
The true value of Bitcoin comes when people use it in day to day transactions. What we are seeing is people holding to the coins rather then using it expecting an increase in value.
If you ask anyone they are hoarding Bitcoin. The majority of bitcoin transactions are happening in the crypto markets by those who want to make an investment instead of using it as money, the real purpose of bitcoin. How long will this keep going? It is clear that is coming to a bubble.
Best investment advise in cryptomarkets is to choose a coin that people use in the long term and not just for a short term profit.
As the story goes on.....
Bitcoin leads the bull market rally.
Many altcoins follow the path of bitcoin.
Majority of altcoins are rallying behind bitcoin.
Goverments strategic correction begins.
Bitcoin drops down and finds a new floor price.
Most of the altcoins who survire follow finding a floor price and the rest dies.
Cryptocurrency depression.
A year or two takes for this to happen.
Cryptomarkets wait some time to get momentum.
Cryptomania repeats again.
Traders who started with Bitcoin in 2013 when the price was $100 for BTC made a profit. They know how markets behave very well. But for the average joe is hard to grasp all this knowledge in a month of reading about cryptomarkets and a month experience in investing in markets. The drive is euphoria that everyone is in and the delusion stage begins to get more and more people in the markets.
Market whales are profiting by launching many ICO projects that are unbiased in the true logic of a business plan. They come to get richer and richer. The average Joe suffers from the disloyalty of such fake cryptocurrencies.
Trade safe and safeguard your investment! Don't go all in!
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