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RE: Market Update: OmiseGO (OMG/BTC) - Looking Overextended, Buyers Beware!

in #cryptocurrency7 years ago

Good points. Especially your point on the size of the crytpto market. Similar to the silver market, that's why (not so true lately) they could make a 'fat finger' trade and dump a million contracts (shorts) on the 'paper' market and the price would plummet. The reason I said not so true lately, is because the last two or three days when they did their raid the price of silver held. I think this might be the last hurrah for their game or at least I hope so. As for your statement 'psychology impacts the probabilities', now that I've given it some thought I believe your right on the money. Psychology will steer the thinking of the masses and translate into a mass entrance or exodus of the market. I guess that's why on the whole people buy when the price is high and sell when the price is low. There is a lag period of the mass hysteria to take hold before they make their decision to buy or sell and while they are making up their minds the price is hitting it's high or low point and about to reverse. Very good points. Your view point causes me to think more clearly. Thank you.

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