Why do so many people insist on buying the top?

Why do so many people insist on being able to predict what the top will be?

>>1836465
Let's day for example dash in the last few days, the value has increased over 100% in the last few days. It's teetering on the brink but there are still hordes of excited idiots shoveling their bitcoins into it, then....pop. Lots of teary eyed bag holders.

People's sense of value is warped by asking price (the higher the price of something, the more value they ascribe to it).

>>1836476
s h o r t d a s h
only option

>>1836488
I did and I am, it's shorting that made me notice how much buy pressure there is on obvious peaks.

>>1836492
yeah
What site do you use out of curiosity? I might have an order alongside yours.

Because its impossible to know what the top is,just look at bitcoin i remember just before christmas not wanting to buy at $800 because i thought it would dip back down to 600-700 all its done since then is go up.

>>1836494
poloniex

>>1836496
>not buying whenever Bitcoin goes up
it's like you don't want to die of stress

>>1836497
Same, solid system imo
Just waiting for the easy money now.
Hopefully

>>1836496
bitcoin behaves quite differently to the altcoins. There arent any altcoins that have had high after high like bitcoin.

>>1836502
Very true
My analysis is that the altcoin market will always be pump n dump, aside from some rare instances like ETH and LTC (historically).
There is never a real community backing for alts like there is for Bitcoin, and that's the biggest factor.

>>1836502
True,ethereum is the only one that has bounced back,seems its ran out of steam now though.

>>1836455
you'll buy at the top wether you want to or not

>>1836476
Yeah. So? They're obviously hoping it's going up further. And since nobody knows what'll actually happen, who are you to tell them the odds of their bet?

The answer to your question is twofold:
-They don't know it's the top, since nobody knows that. "Tops" are only assigned in hindsight.
-They fall victim to the fallacy that past performance indicates future performance. But since cryptocoins have no fundamentals, betting on rising coins is less insane than with stocks. It's all market psychology - so if a whale doesn't crash the market, this is actually a self-fulfilling prophecy.

>>1836527
I guess if these people didn't exist then the rest of us wouldn't make any money.