In recent days Bitcoin has surged past $24k Ever since then I have seen numerous influencers on Twitter calling it the “biggest bull trap ever”, or comments like “I sold all my crypto into stable coins”
Could this be the result of mass conviction that this is a trap and in result it turned into self full-filled prophecy?
What would have happen if all the big influencers on socials were saying things like: “Just bought more Bitcoin” or “Bitcoin is heading to “$28k!”
I believe we are living in a kind of self fulfilling prophecy game those who have the biggest influence decide what it is going to be, a bear or a bull, there is nothing else that could determine the direction other than human psyche!
But the ultimate direction is decided by traders they move the price heavily they are buying all the stories on the net and make the decision based on that - It is the crowd that moves the mountains!
I think this is another great opportunity to start buying Bitcoin after this dump. Can Bitcoin go lower? sure it can will it go I doubt it. I think there might be flash crash lower if there is a lot of over leveraged longs!
I am currently in a different trade - I am long on Like coin due to upcoming launch, but I will be watching Bitcoin cause it will most probably be my next trade!