RE: Bitcoin (BTC) Evening Update: $30,000???
I think many will find it to be very risky to get involved. Most classic investors that I have seen don't want anything to do with the volatility. I know of some who own BTC but won't admit it to other classic market traders. There is a bit of a stigma to it in that world....however, the gang investors see the money and will work like Vegas to get in....meaning whatever it takes to sell a client on the idea of HUGE profits in short periods of time....which is true to some degree. I have a feeling it's kind of like what you just said....they may get screwed bad playing games with BTC. There could be many that see a price hop, and take the money and run....leaving the bags held by the futures traders are very very high prices. Of course, unfortunately, in both situation, the innocent and the idiot will also lose no matter what happens....but this is a risky trading realm, and we know that up down left and right. I have lost a LOT in a very short amount of time, and I have gained just as much in less time. I have a buddy who is a big time international investor for large clients. He says most of them are only slightly interested on a personal level, their companies are not at all. He also said anyone who makes classic investments only to this point will likely only place somewhere around 1% of their portfolio into crypto until the market gets a price and sits on a steady growth without the massive risk that we all take daily.
I can see it going either way....which I realize isn't helpful, but it's the truth. That being said, it's just like any other trading day to me in most ways. This is because every single day, people and groups attempt market manipulation, and many achieve it, but the goal of an investor my size isn't to be with the good guys or bad guys as people see them, but to be in the right place at the right time....just like with every trade, no matter who or what is moving the market
Totally agree with you scarlet...it's a double edged sword...im concerned that when wall street gets involved it will scare the new people to death...i liked the organic growth story BTC and crypto has had with everyone including the little guy being able to participate...but now, we don't know...the futures market was a shitshow...it is so taken over by HFT that it's just insane..i really really hope this genuine achievement we call BTC and crypto isn't hurt by the wolves that are waiting and can smell blood