Current Events > If the whales were truly buying up tons of crypto right now...

(+) Yeah! (+)

Wouldn't the prices be going up instead of down/sideways?

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Individuals don't have enough money to move entite markets.
Unless by whales you meant giant financial institutions.

Bag holders have to cope somehow. Ethereum was $200 a year ago. Why would you buy it at $3-4000 and think it was going to just keep going up forever? The same reason you didn't buy it last year when it was $200, you make your decisions entirely based on emotional reactions to trends.

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WingsOfGood posted...

Individuals don't have enough money to move entite markets.
Unless by whales you meant giant financial institutions.

Yes, I mean giants like Chase bank, Goldman Sachs, stock brokerages, etc.

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ssjevot posted...

Bag holders have to cope somehow. Ethereum was $200 a year ago. Why would you buy it at $3-4000 and think it was going to just keep going up forever? The same reason you didn't buy it last year when it was $200, you make your decisions entirely based on emotional reactions to trends.

I believe Ethereum will one day top out, but that wont be for 10, 20, or 30 years.

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Pepys Monster posted...

I believe Ethereum will one day top out, but that wont be for 10, 20, or 30 years.

Let's pretend HODL is a good idea. If your plan is to buy and hold long-term, why not buy at a low point, like last year for $200 instead of a high point, like last month at $4000? HODL is a coping mechanism to justify the sunk cost of a bad buy. Crypto is and always will be gambling. It's not an investment because it functions the same at any price, the price is unrelated to the actual functionality. You can make a lot of money buying low and selling high, but buying and holding long term is unlikely to be better than an actual investment where there is a correlation between price and functionality. I really think the HODL strategy is the worst thing you can do. If I never sold my first Bitcoin I got back when it was worth $500 I would have way less money then I do now. Buy low, sell high is the only way to make money. If you have profits then take them, if the price is at an all time high, wait for it to fall. If the price crashed to a massive lowpoint and everyone says the market is dead, buy some.

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Luckily they struggle to operate a computer with their fins.

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HODL is a meme created by people who bought lots of crypto when it was very cheap to dupe people who bought in when it was overvalued into not panic selling and tanking it. Someone will be left holding the bag in the end.

ssjevot posted...

Let's pretend HODL is a good idea. If your plan is to buy and hold long-term, why not buy at a low point, like last year for $200 instead of a high point, like last month at $4000? HODL is a coping mechanism to justify the sunk cost of a bad buy. Crypto is and always will be gambling. It's not an investment because it functions the same at any price, the price is unrelated to the actual functionality. You can make a lot of money buying low and selling high, but buying and holding long term is unlikely to be better than an actual investment where there is a correlation between price and functionality. I really think the HODL strategy is the worst thing you can do. If I never sold my first Bitcoin I got back when it was worth $500 I would have way less money then I do now. Buy low, sell high is the only way to make money. If you have profits then take them, if the price is at an all time high, wait for it to fall. If the price crashed to a massive lowpoint and everyone says the market is dead, buy some.

Someone else could ask why not buy Ethereum when it was at a low point, $50, instead of a high point, $200? The more people believe in it and buy it, the more its value increases. $4000 is just the beginning. ETH will hit $100K.

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TheDurinator posted...

HODL is a meme created by people who bought lots of crypto when it was very cheap to dupe people who bought in when it was overvalued into not panic selling and tanking it. Someone will be left holding the bag in the end.

So if we both buy 10,000 ALGO at $0.80, and you sell it when it hits $1, but I HODL for 2 years, and then sell it at $10...

You made $2000 and I made $100,000.

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Pepys Monster posted...

Someone else could ask why not buy Ethereum when it was at a low point, $50, instead of a high point, $200? The more people believe in it and buy it, the more its value increases. $4000 is just the beginning. ETH will hit $100K.

Ethereum didn't drop down to $50 in recent history. It was $200 last year. You have no way of knowing ETH will ever reach that price anymore than I could say ETH will be $200 again. $4000 is obviously not just the beginning since it's $2400 now. Don't buy at an all time high because it doesn't only go up. This is straight up the irrational behavior I was talking about earlier. You are justifying bad purchases based on feelings rather than admitting it was a mistake. Did you only start believing ETH would be $100k a month ago? Why didn't you buy it when it was worth less? I bought it at $300 last year and sold it at $2000 this year. I made a shit ton more than anyone who bought at any time this year could have made even if I didn't sell at the very top. And I could have even bought more for less last week at $1700 if I wanted to (I didn't, because I don't think it's worth the risk right now). Buy low sell high is basic as hell, but a lot of people don't do it and instead volunteer to be bag holders.

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ssjevot posted...

Ethereum didn't drop down to $50 in recent history. It was $200 last year. You have no way of knowing ETH will ever reach that price anymore than I could say ETH will be $200 again. $4000 is obviously not just the beginning since it's $2400 now. Don't buy at an all time high because it doesn't only go up. This is straight up the irrational behavior I was talking about earlier. You are justifying bad purchases based on feelings rather than admitting it was a mistake. Did you only start believing ETH would be $100k a month ago? Why didn't you buy it when it was worth less? I bought it at $300 last year and sold it at $2000 this year. I made a shit ton more than anyone who bought at any time this year could have made even if I didn't sell at the very top. And I could have even bought more for less last week at $1700 if I wanted to (I didn't, because I don't think it's worth the risk right now). Buy low sell high is basic as hell, but a lot of people don't do it and instead volunteer to be bag holders.

I didnt buy Ethereum at $4000. I bought in when it was like $1200.


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