Burlington, VT — With Bitcoin prices just above $18000 and down almost $2000 since last week, local resident Davin Black struggles to hold back joy knowing there are at least some people under water on their positions. Having missed the initial run up to $20000 in 2017 and then again this year, the drops are that much more enjoyable.
“I’m sick of seeing guys I went to College with driving crazy cars and traveling all over the world solely because they both some fake digital money that became worth an obscene amount of actual money,” notes Black from his modest studio apartment. “I can’t participate on the upside when Bitcoin rips higher but there’s something about knowing someone is poorer after a violent double digit decrease that Bitcoin is prone too.”
While some might classically refer to Black as a ‘hater’, he doesn’t see it this way. “Why should people get rich beyond their wildest dreams because they happen to be participating in a ponzi scheme that hasn’t been exposed yet? I have a special bottle of sparkling wine I’m saving for when it all unravels and everyone is put in the poor house.”
Thinking this way is unhealthy however not uncommon notes psychologist Marvin Williams. “A lot of people experience FOMO when they see moves like this and feel they’re being left out. So they compensate by literally celebrating when the price goes down based off the idea that some people are losing money. It’s pretty messed up but it does happen.”
Shortly before this writing Goldman Sachs put a 5 year price target on bitcoin of $150,000.