The reality is that we may never have another rally like 2017 again

TL;DR - bearish outlook (***trigger warning*** )

Most people in bitcoin social media are mega bulls who go crazy at anyone with a hint of bearish projections. I posted a little while back about how futures might impact bitcoin price in a negative way and basically got hated it for it. I mentioned I was already in bitcoin for a long time and got sarcastic ''sure buddy'' answers.

Face it, half of you reading this are almost basically gambling addicts, a bunch of hyenas drooling at the mouth and viciously attacking in a pack anyone who dares to question. Bitcoin is a wet dream to YOLO to Lambo money in the next 24 months, or whatever your ''projected'' one million usd bitcoin will be reality. Just go on youtube and google bitcoin - look at the results, it's a joke. Little peter pan boys dressed in suites pretending to be financial experts.

I'm not dissing bitcoin here because bitcoin is SOLID, I'm dissing the scene, what it's become. Roller-coaster meme mentality. Look at the recent debates with people like Craig Wright and Tone Vays - seriously. These people are big names in the space and make it look like a circus.

Also, half, if not 90% of people here don't give a crap about the roots of bitcoin, the cypher punks movement. If the government were to crack down on bitcoin I know most people in here probably don't have the balls to hold, they'll jump out as soon as uncle Sam says so.

Despite what McAffee says, or stock to flow, the truth is that it's going to take a TON of money to move bitcoin from a couple thousand to $50+. People think we 100% going to $100k because of ''math'', ''halving'' and ''hopeium''. The current market sentiment is something to be very scared of and reminds me of a fools market. Yes I'm going to get a lot of hate comments for this post, or just be ignored because that's what people do with opinions that doesn't lock with their view.

Going from $300 to $20k took about 200 billion give or take. Chump change. You guys seriously think TRILLIONS are going to flow into bitcoin overnight because it's 'getting more scarce''?! If people are not interested in bitcoin they don't give a crap if it's scarce or not.

You know the old adage, when something seems to good to be true... You see, back when people were buying bitcoin at 300-500 usd there was no ''future too good to be true'' - it felt super risky and most people never heard of bitcoin. That was where the opportunity lay. The potential for huge upside was based on HUGE RISK and low market cap. Sure, bitcoin will rise again. But you ain't gonna ever make 2000% profit again unless maybe you hold for 30 years. Even IF bitcoin goes to $50k - that implies a TRILLION dollar market cap for 10x? And then everybody dump the crap down 90% again?

I read a comment once, something like '"the 2017 bitcoin rally was a like a first coke high that we will seek out forever, but unlikely to ever experience again''.

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EDIT I stated in my post that I still believe bitcoin can 10x but I'm getting attacked left right and center. Anyone who is seriously believing for anything more than 10x in the next couple years is JOHN MCAFFE CRAZY imo

*IF THIS POST HAS CAUSED YOUR ANY MENTAL OR EMOTIONAL DISTRESS HERE IS A VERY RECENT HODL MEME TO CALM YOU NERVES; https://www.reddit.com/r/Bitcoin/comments/dmf1v3/hodl/

Submitted October 24, 2019 at 02:07PM by Viruscatman https://ift.tt/2BGNjDD