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Bitcoin Price - This Time is Different? by penguinpablo

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bitcoin · @penguinpablo ·
$8.46
Bitcoin Price - This Time is Different?
A known mistake that investors repeatedly make is thinking **“this time is different.”** These investors live from one headline to the next looking for reassurance “this time is different.” Their Fear of Missing Out (FOMO) leads them to ignore realism and to buy assets at very high prices. For this reason I wouldn't buy Bitcoin right now. I believe in the future of Bitcoin, but in my humble opinion it's currently better to wait for a correction and buy on a pullback when everyone else is selling. "Buy low, sell high."

### Bitcoin Weekly Chart
In the weekly Bitcoin chart below I have highlighted the 4 times when Bitcoin was being traded with an RSI level above 75 in the last 400 days. The Relative Strength Index (RSI) is a popular technical indicator that can help you determine overbought and oversold price levels in the trading of an asset.

<center>![](https://steemitimages.com/DQmR69zdZwDtYvjPo1MmEQGmUZVdBmjE1nojUbtoJfRJvam/image.png)
[Open full screen](https://steemitimages.com/DQmR69zdZwDtYvjPo1MmEQGmUZVdBmjE1nojUbtoJfRJvam/image.png)
</center>

In each of the previous 3 times a correction took place. Will this time be different?


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vote details (87)
@cassidyandfranks · 
I buy in 1/3rds 

I sell in 1/3rds

Minimize Risk
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@dasczecher · 
Thanks Penguinpablo for providing this information
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@everittdmickey · 
I hope it does.
I'm almost ready to take the plunge and buy exchange some Steem Dollars
👍  
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@goldstacker · 
no!! wait and buy the dip!
👍  
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@ingloriousaction · 
I think the next rally will break 2000 USD. You can have a look at my analysis.
👍  
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@jumowa · 
this is gonna explode up like SpaceX
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@kaitlynmoore01 · 
Interesting post.  I was about to start a similair discussion. The biggest group of uneducated investors in mankind get's a shot to determine the price of a crypto. It's an interesting world we live in.  I found this amazing platform: https://www.coincheckup.com They seem to give this complete indepth analysis of all cryptocoins.  Check: https://www.coincheckup.com/coins/Bitcoin#analysis For a complete Bitcoin Analysis.
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@karenmckersie · 
Possibly !?!?👍😊
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@patelincho · 
I personal hope forthe best- rise on BTC price :)
👍  ,
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@rahul.stan · 
What if this time really is different and 1btc reaches 10000$ ?
👍  ,
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@dasczecher · 
My personal opinion is that it wouldn't do this in just one run. More likely to be in the general wave formation that most stocks follow. But if it did go all the way up in one go, it would likely be because of a SHTF situation!!!
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@screenname ·
Re: Bitcoin Price - This Time is Different?
<p>This post has been ranked within the top 50 most undervalued posts in the second half of May 10. We estimate that this post is undervalued by $17.23 as compared to a scenario in which every voter had an equal say.</p> 
<p>See the full rankings and details in <a href="https://steemit.com/curation/@screenname/the-daily-tribune-most-undervalued-posts-of-may-10---part-ii">The Daily Tribune: May 10 - Part II</a>. You can also read about some of our methodology, data analysis and technical details in <a href="https://steemit.com/curation/@screenname/introducing-the-daily-tribune-most-undervalued-posts-of-nov-04---part-i">our initial post</a>.</p>
<p>If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.</p>
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@skririm ·
$0.02
Next dip, 15 may when the ETF dismiss the exchange of the Winklevos brothers? Or big rise if they do accept it?
👍  
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vote details (1)
@penguinpablo · 
Good point. May 15 is a day to keep an eye on.
I don't expect that the ETF will be approved this time. Nothing has changed since the SEC rejected the ETF 2 months ago.
👍  
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@skririm · 
As a non-trader but a long term investor i think it is just better to buy the coins from the projects where you believe in, store them safe, and don't think about them to much anymore :-) if their are some events that will make the price drop, i just see it as an good opportunity to buy some more...  offcourse you can try to sell before these events, and buy more when price drops but thats a decision you have to make...  i prefer just to store them and don't look at it to much instead of sell, exchange it for $/€ again and later on buy some more with the risk that the event did not cause the effect you thought it would be and you have to pay more to have the same amount of BTC again...
👍  ,
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vote details (2)
@timsaid · 
Vires in numeris. BTC will have a great future
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