All my cautious, skeptical friends who were open to Bitcoin as a technology - they invested years ago. They are now hodlers, in for the long haul, and buy every week.
But my other friends...the ones that wouldn't buy no matter what, who think Bitcoin is a scam, who think the technology will get replaced by something better so it's smarter to wait, who <insert whatever excuse, refusing to listen to reason>...now they are investing. And they aren't investing because they had a change of heart. They don't buy into bitcoin's philosophy or care about the unbanked or think it's the future of money.
No, they are buying ONLY because they think other idiots will buy and the price will go up. They are purely speculating and want to sell it as soon as they make a profit.
Whether they actually sell or not, who knows. Or they sell, the price climbs higher, they buy back in. Whatever their path, I welcome them with open arms! :D There's room for everyone, regardless of motivation. That's the power of bitcoin. One way or another, it pulls you in, it changes you, it spits you out, and you never look at the world in the same way again.
It's an interesting indicator I've been watching for a while and is finally starting to see some action.
Submitted February 03, 2020 at 09:28AM by bearCatBird http://bit.ly/2GQc9TX
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