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    Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26899632 times)
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    December 29, 2013, 08:16:53 AM
     #69921

    late November, when I was the sole dissident in the crowd of all bulls
    Totally, can't seem to recall anyone warning of another 2011 back then while being laughed at. Or anyone who bought into the suicide hotline while others were busy panicking. Hmm. Weird. Cheesy

    Being a contrarian is certainly one of the better plays, but keep in mind that a trend can stay intact for quite a while even though most everyone is bullish/bearish. It is just the extreme points of sentiment that are really high danger. Even with this in mind, it's always likely the trend extends further than you think. As an example … on the way up to 900, the sentiment was already completely insane with that congress hearing. I don't think it is possible to consistently catch the very last wave (I certainly haven't seen anyone who is able to do it) nor do I think it's adviseable to try because the risk becomes disproportionate to the reward.

    I do find it ironic that our hotshot investment club supernode king of the crypto Risto got caught in the euphoria at the very end of the bubble. Cheesy
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