You are viewing a single comment's thread from:

RE: Wondering if it's the right time to buy bitcoin? The BMI (Bitcoin Misery Index) says yes!

in #bitcoin7 years ago

This picture caught my eye! One of the coolest pictures I’ve ever seen.

Unfortunately or fortunately, the BMI being at this will probably scare many people away. They prefer to buy with the index is super high levels.

I’m really curious to see if we spike down close to $5k or if we rebound quickly

Sort:  

That does seem to be how most people think. I had a ton of people calling me asking if they should be buying bitcoin when it was running up near $20k. I didn't feel comfortable telling them to then. Now, no one is calling me to ask if they should be buying with prices around $9k. Probably tells me everything I need to know about whether this is the time to buy or not. Buy when everyone hates it! :)

I agree with you....

Yes you’re exactly right! I haven’t had anyone new contact me about getting in since it started dropping. On the run up it was crazy with people coming out of the woodwork asking if I could help them purchase some..

You make a good point, @sevinwilson. It's so true too. Most are emotional followers and not leaders or pioneers... Have a great Sunday