From one angle you are perfectly right. But from another, some people have been able to predict future price movements correctly.

A simple example was the bubble. As the price went above $200, some people correctly said, this is a speculative price bubble, which will burst soon, and the price will subsequently sink below $200. In the event it went down almost to $100, followed by a bull trap, and some people predict that more bull traps will follow.

This is not only an asset valuation issue. It is also a psychological issue. And it is sometimes possible to foresee other factors influencing the price.

To put it in other words, if everybody believed the price should be $300, it would be $300 now, as you say. However, if some people believe it should be $300, while others believe it should be $20, then things are getting more complicated. It may take some time before one group realizes they were wrong and come round to the other valuation.

wondering why this people didn't save us during the last crash

these are my thoughts exactly, everyone has been holding off for this opportunity and there not about to miss out.

it's easy to call things like that but without knowing their actual position and the amount at stake it is all meaningless.

Personally I wouldn't truthfully divulge when I am in and out especially if I had a significant amount at stake.

I'm not sure exactly where price should be but I have a feeling it is lower than the current price of ~ $170 and for that reason I am totally out of the market for now. Picking tops and bottoms is not something I would try ever, especially in a market like this

Why not? If you had any credibility, you would post your own honest position and encourage others to follow suit. The only reason you wouldn't be honest about your positions is if you were lying in a feeble attempt to manipulate the market. Congratulations, you're the first person I've ever put on my Ignore list.

My position: Liquidated most of my BTC holdings at $240, and placed a market buy order with the proceeds when it broke under $170. It ended up getting filled at $130+.

You had me a little worried until I saw your name, proudhon

I'm adding him to my ignore too. This "I won't tell anyone" post is retarded. No reason to read anything more from that person.

not true, if the people in this forum think is worth that much then go out and buy it would raise the price like a whole dollar? what if we think it will hit 300 but only have so much to spend or nothing. but the Chinese and the hundred million billionaire in the WORLD think its going to be three hundred then as soo as there gox account is verified or there coinbase is verified than they will buy. this is not instant soup bro ...haha cup-o-noodles Just Add Hot Water, this takes time and with every new cust account verified it will rise.

the more i think about this the dumber it sounds.....hey everyone lets all believe its going to be worth a billion dollers by the end of the month. believe all ya want its not going to happen. mr top rammen.