2 upvotes, 1 direct replies (showing 1)
View submission: Don't invest recklessly
What's sad is that advice like this will fall on deaf ears. This subreddit has become a giant echo chamber plain and simple. I do fear for those who blindly buy into the the HODL mentality with their entire lifesavings. Bubbles can be some cold-hearted bitches.
Comment by StarMaged at 30/11/2017 at 07:06 UTC*
3 upvotes, 0 direct replies
People tend to get this weird idea that 10%+ increases per day are totally sustainable and that, worst case, it will probably only drop 20-50% in the case of a crash. People need to understand that a 90% drop is not only possible, but extremely likely based on previous bubbles.
Earlier today I saw someone say that you should buy now because if we get to $25k, it will only crash to $20k! No. If we get to $25k and it then crashes, expect to see a drop to ~$6-8k followed by a bounce back up a bit, then a very slow drop to $2.5k. This scenario has happened before. It might even be worse this time, who knows. Either way, you better be prepared for that to happen.