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It’s funny calling the prevailing opinions on (I’m assuming) online crypto investment communities as “conventional wisdom”. These sites are filled with garbage
by brokencode 6y ago
It’s funny calling the prevailing opinions on (I’m assuming) online crypto investment communities as “conventional wisdom”. These sites are filled with garbage information from teenagers.
Many investors in the space will sell when it’s high, and buy when it’s low. This is a highly speculative investment, and shouldn’t be treated like stocks or other investments.
You hold a diversified portfolio of stocks because companies on average will eventually will grow or pay a dividend.
Crypto though? It could easily crash and never return at any time, and has crashed dramatically multiple times before.
- christiansakai 6y agowell I'm just generalizing about assets in general. I don't believe in Bitcoin but I want to know who are selling these Bitcoins in large numbers?
- brokencode 6y agoAs mentioned in my previous response, many investors will see the recent spike and decide to sell to lock in their profits, since the investment is extremely risky and could crash at any time. When an investment goes up hundreds of percent in a single year, that raises a lot of red flags amongst many investors about the potential for a crash. This type of gain is just not normal in investing.
- shoshino 6y agoAnd when it goes up 1000% every 4th year, other investors notice too :D