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RE: What Goes Up, Must Come Down! (Similarities to 1998?)
Didn't you get the memo that you're only supposed to cheerlead price rises? You're not allowed to say these prices have to come down.
I'm only being facetious because, before the $400 correction this morning, I made a similar post, which ended up having the worst view/upvote ratio of just about any post I've made.
I've seen enough bubbles to know what happens when a price chart starts to look like a hockey stick.
I read through the post you mentioned and saw a comment about silver. I think silver is vastly undervalued at current prices. I remember when silver was approaching $50 back in 2011. At that time everyone and their mother was heading down to the LCS to pick up some silver. I am sure many sold off when it was bleeding not long after
Yea I have been getting some family members into silver for a few years now. I think they did most of their buying around the $13 level. At some point Silver will have it's day in the sun again.
It's one of the most undervalued assets in the world in my opinion! Once the criminals over at the LBMA get exposed it might (hopefully) break free. Until then, they will continue to dump paper on the markets to suppress the price
Yea, people don't want to read downers... although I am hoping this isn't the second trap and hoping it is more along the lines of the first one! Which would mean in a round about way, I am still cheerleading ;)
If I had to guess, this is just a profit-taking correction, and the price will continue pumping a while longer. But don't listen to me, I'm not a trader.
That is my guess as well. My crystal ball is a bit hazy as well though, so it's just a guess :)
"people don't want to read downers " I feel like this is especially true for steemit, almost all posts I see in the "hot" category related to crypto-currencies and/or steemit are definitely biased and unjustifiably optimistic for the future of steemit (and other cryptos). Not much objective analysis going on there
But you can't fault them completely because the positive posts in some way actually do help the community too, keeping the enthusiasm alive, attracting new users etc. So this "positive" analysis may work like a self-fulfilling prophecy ;)
That is a great way to look at it! Nice point :)