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RE: Oversold Extremes - Part 2

in #steem7 years ago

Well, if you thought they were at oversold extremes then, wait until you see them now!

We could argue the same thing now as well. I think it all depends where your mind is at. Your thinking buying lows could mean for someone too expensive and still wait for even lower prices. You definately have to have a plan. When you buy and when you sell. Also you should not invest any capital you can’t afford to loose. If you do, your emotions get involved at any sell off and I can guarantee, you mostly loose. There are people taking loans, selling houses to buy crypto. Unfortunately they bought when there was euphoric buying at high. Now they are forced to sell, because they have to pay off their loans, it’s the same as with the stock market. You are allowed to buy on margins where you need only about 30% of entire investment. However, if the market starts to sell, you are forced to sell as well and if you don’t sell they will sell it for you. Either way, the market has to get rid of these buyers, it sounds unfair, taugh and emotionless, but that’s what any market is “unfair, taugh and emotionless”. I’m a buyer of BTS at these levels as well, but I wouldn’t be surprised if we go much lower. Now we should sit and chill. We are in this all together.

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Keeping things in perspective is extremely important, I agree, and I thank you for pointing that out in the very real world terms that you do. It's one of the main reasons why I am pro-regulation in this industry, although that only helps reduce the fraud, and not the bad decision making. Nevertheless, transparency and legal compliance at least help move things in a fairer direction. The rest is cultural.

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