I remember a lot of people (including myself) saying the same thing a few years ago, and selling a bunch of BTC at ~$8000.
"The market can remain irrational longer than you can remain solvent"
It's a good thing I was simply closing positions instead of taking a short position, cuz boy oh boy was I wrong.
That was before institutional money started going into BTC. Will be interesting to see if the 'little guy' individual investor will be enabled to take large amounts of early stage profits and saddling the 'big guy' institutional investor (which is in a lot of cases, essentially just lots of 'little guys' money pooled together while the managers skim the profits off the top) with the late stage losses.
"The market can remain irrational longer than you can remain solvent"
It's a good thing I was simply closing positions instead of taking a short position, cuz boy oh boy was I wrong.
That was before institutional money started going into BTC. Will be interesting to see if the 'little guy' individual investor will be enabled to take large amounts of early stage profits and saddling the 'big guy' institutional investor (which is in a lot of cases, essentially just lots of 'little guys' money pooled together while the managers skim the profits off the top) with the late stage losses.
(I am long BTC)