Holy fack on BA. Luckily, I dumped when it was in high 300's / 400....then bought some back when it hit 92 awhile back.....but I shoulda dumped again when it was mid 200's.
While I’m still baffled by crypto, I’m particularly baffled by all the crypto investing advocates that keep mentioning history. Hard for me to not see this as an a combination of unprecedented time, markets, and technology. Not sure how much stock I’d put into history, considering the circumstances. Cheers to the speculators and those okay with the recent exchange term updates!
I only mentioned it to say that if you look at the charts, the last 3 drops were essentially an 80% retraction from high to the trough. History doesn't solidify future, with each cycle maybe it has more staying power so it doesn't behave the same and maybe trends towards less change between high/low as it matures, but 80% of this last high would be like $12k, not $27k, hence me laughing at Cortez if he thinks he's "going all in" on a discount here. Time will tell I guess. I dont really care about this shit, but I don't think its gonna disappear. I'd be a player at $12-15k maybe to hold for the next cycle. At $27k I dgaf. See previous pages for my assertion on his $1m valuation exercise in extreme retardation.
I've read that crypto markets are now so much part of the regular investment community that both will have very similar trends, both up and down.
i'd assume that's the trend. with each passing cycle, more people will naturally stay, it becomes more of an accepted household name even if the utility doesn't for most people, still acceptable to hear it in normal convo. Also this last time more large institutional firms opened up to it and some form of diversification into it. Maybe that means less of a reduction this time and also less dramatic climbs in the future? Not sure, but I had that thought that maybe at least for the Big 20 or so, the whirlwind will be calming a little in the next few years. With that comes predictability, but also with it goes away the days of 2000% returns in a year. Who knows.
A few of my cryptos have jumped 60% today. That being said, I'm not expecting it to make me rich any point soon. I do believe it's here to stay in one form or another, so I'll keep throwing my 50 bucks in every payday. At this point I just buy Eth and Btc though.
Im out on eth. Been doing way more reading on crypto and more and more I think btc is going to become a legitimate world currency.
I still remain completely unconvinced. I am okay with losing losing out. Crypto is just not for me. To be totally honest, I bought Coinbase this week in a tactical plan and I am up 35% right now. But I don't see myself keeping that long term.
I guess you know more than some of the smart guys, like Warren Buffet. https://www.cnbc.com/2022/04/30/war...ion-for-why-he-doesnt-believe-in-bitcoin.html
The irony is he'll leave behind more money in the couch cushions them most of the Crypto crowd will ever make.
well…. An argument can be made that as btc threatens the established government/economic model they will take action to stop it. Buffet knows this and thinks the worlds governments will win over. It probably has nothing to do with its real world viability as a currency and more to do with him being “in the know” on where policy is headed You can’t stop btc at this point. Even if it becomes a crime to own btc (like they did with gold when they went off the standard) it’s digital and the blockchain cannot be hacked or broken or taken through means of force or economic policy. It’s yours. Period. That’s not good for governments.
damn....here I was betting everything on ETH because cortez said it's the best thing ever....Motion and Bird, we'll have to draw up new plans now