Reddit Thanks Future 2021 Crypto Bagholders

The term bagholder originated in the eighteenth century. It refers to anyone who is foolish enough to get into an investment frenzy at the top, or in twenty-first century terminology at the absolute moment of FOMO (Fear of Missing Out).

With every uptick of Bitcoin, one more person that was absolutely dead-set against investing into crypto is turned and another whale is able to take more profits and then buys the dips again.

Story of every upsurge and bullish run really for ever major asset. But what happened on Reddit yesterday was unseen.

WallStreetBets and SatoshiStreetBets

Reddit has seen an upsurge in crypto popularity ever since the WallStreetBets versus Wall Street saga. As retail investors switched to crypto realizing that they couldn’t win against the stacked deck that hedge funds and regulators (aka Janet Yellen and others) could put in front of them, they were introduced to a wonderful world of Bitcoin, Ethereum and Dogecoin.

The subreddits of SatoshiStreetBets (the crypto equivalent of WallStreetBets) and r/cryptocurrency have seen hundreds of thousands of new enthusiasts pour in over the last few weeks and months.

Yesterday, a long term member of the crypto forum raised a prayer for the future 2021 crypto bagholders, aka the person that is going to be left holding the bag when the bull run ends and a massive drop comes (which will eventually happen of course).

A moment of silence for the 2021 bagholders from CryptoCurrency

User NevermindPhilip said:

Later this year as the bull run gathers momentum and FOMO kicks into high gear, more and more new money will enter the space. It’s easy for those of us already here to think that most people know what’s going on by now, but they don’t. A fraction of the future crypto investors have even considered purchasing it. And that’s not even considering real world use and adoption. New money will be arriving for decades.

In a stroke of genius, he continued to predict that:

As the green candles accelerate towards the moon, the astronomical price will hit the tabloid front pages again, and the only people still buying will by the uninitiated, the misinformed, the greedy and the confused. We’ve seen it play out twice already. Many members of this sub were one of those people.

For me to take profit near the top, someone needs to buy it from me, and that unprepared individual will do so with gusto. They’ll have Lambos in their eyes and a fancy new Coinbase account (yes yes, HODL, super cycle and all that, I’ve got bills to pay). They will buy. The market will peak and turn south. The 2017 surprised Pikachu faces will return again. We probably have many months to go, but I’d like to take a minute to feel sorry for the people we’ll see arriving here at the end of this year with some VERY heavy bags, heavier hearts, and questions that need answering. We will have sold them those coins.

In essence, the bagholder is he who suddenly has to deal with a difficult situation because others have decided that they do not want the responsibility. The post was widely discussed on Reddit, with many agreeing that such a moment would indeed come and that it’s better to be on the correct side of history as it happens.

Remember to always do your own research and never ever buy in at the top.

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