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RE: Bitcoin Drops Below $7,000 |

in #bitcoin7 years ago (edited)

maybe some new investors will get in, but those who got burned in the last few months (which is the bulk of the investors) will either not have the money or not have the stomach to buy back in anytime soon....buying after losing 60% of your portfolio is not a sane move. It's easy to want to buy more when you bought below $5000, but if you bought at 14,000+ there is not any hope for the future to merit buying more...it's easy to keep looking into the past at the chart, it could drop to $1000 and someone could put up a chart saying it's STILL up X% over some period...but fact is everyone that bought in recently has been burned worse than any time in the past and there is nothing healthy or normal about shooting up to 20,000 and dropping to 6,000. People that invested in the past saw huge gains...it seems those days are gone, and BTC/ETH will need to double or triple just to break even for many people.