Bitcoin
- Thread starter Ron Resnick
- Start date
Looks great. We're getting closer to another entry point.
My view is that I would be surprised if BTC declines to the low at the end of February of about 42,000, and I would be shocked if we get down to the low at the end of January of about $35,000. My general view is that, absent a "Black Swan" event, BTC will never again see a price below what I term the "Morgan Stanley Moment."
I've been buying a little bit more Bitcoin on the way down here, but I would buy materially more at about $42,000, and I would back up the truck at $35,000.
I've been buying a little bit more Bitcoin on the way down here, but I would buy materially more at about $42,000, and I would back up the truck at $35,000.
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Interestingly, and, quite possibly, purely coincidentally, I've noticed that gold has been rising the last few days as Bitcoin has been declining. I think the more likely connection is that gold has been rising this week as the 10 year U.S. Treasury yield has been declining this week.
I have not heard anybody else make this comment, but I believe that, in the future, gold will be viewed as a hedge . . . on Bitcoin.
I have not heard anybody else make this comment, but I believe that, in the future, gold will be viewed as a hedge . . . on Bitcoin.
Gold is a hedge on everything already, has always been.
IMO gold is up because of all the panic and sky-is-falling attitudes about the current state of financial affairs, which is questionable because it's unique. Same with the stock market and crypto, prices are up for the same reason. If there is a financial catastrophe it's going to be largely self-inflicted imo... The proof of this is the fact other governments have been giving their citizens far more stimulus money vs the USA with no issues. The problems are mostly imaginary so far, and the imaginary problems are being sensationalized because it generates revenue for the people screaming that the sky is falling.
IMO gold is up because of all the panic and sky-is-falling attitudes about the current state of financial affairs, which is questionable because it's unique. Same with the stock market and crypto, prices are up for the same reason. If there is a financial catastrophe it's going to be largely self-inflicted imo... The proof of this is the fact other governments have been giving their citizens far more stimulus money vs the USA with no issues. The problems are mostly imaginary so far, and the imaginary problems are being sensationalized because it generates revenue for the people screaming that the sky is falling.
I dunno. There's an argument that Bitcoin is an old man's luddite coin that serves no purpose apart from being scarce.
It's a crap performer as a payment mechanism. But that said it still outperforms bank transactions massively, mainly because they try to enforce a set of transaction rules set in an age of writing cheques.
As a reference the market respects Bitcoin is unbeatable. That's slightly annoying but it is the way it is.
Binance kills it for speed and throughput, and the exchange has all sorts of funky ideas to make and lose money, as does Bybit. Ethereum is far more functional than BTC but outperformed by Binance. Doge is a laugh but mints 10,000 coins a second (or is that 10 million/s on a massive supply? Can't remember). Binance burns them. It's only cash, after all
Of the apps I have used Swissborg is the best for beginners and intermediaries. It's a beautiful piece of software engineering. It almost always works, and it it is by far the best tracker of profit and loss. Coinbase is pathetic in that respect and tries to conceal it's charges, because they are a rip off. I highly recommended Swissborg, until proven otherwise. Its coin has done very well but not in recent times. I think it'll pick up again at some stage.
But don't listen to a word I say. This is crypto and it is highly dynamic. And that, let's face it, is what makes it such fun.
It's a crap performer as a payment mechanism. But that said it still outperforms bank transactions massively, mainly because they try to enforce a set of transaction rules set in an age of writing cheques.
As a reference the market respects Bitcoin is unbeatable. That's slightly annoying but it is the way it is.
Binance kills it for speed and throughput, and the exchange has all sorts of funky ideas to make and lose money, as does Bybit. Ethereum is far more functional than BTC but outperformed by Binance. Doge is a laugh but mints 10,000 coins a second (or is that 10 million/s on a massive supply? Can't remember). Binance burns them. It's only cash, after all
Of the apps I have used Swissborg is the best for beginners and intermediaries. It's a beautiful piece of software engineering. It almost always works, and it it is by far the best tracker of profit and loss. Coinbase is pathetic in that respect and tries to conceal it's charges, because they are a rip off. I highly recommended Swissborg, until proven otherwise. Its coin has done very well but not in recent times. I think it'll pick up again at some stage.
But don't listen to a word I say. This is crypto and it is highly dynamic. And that, let's face it, is what makes it such fun.
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well it seems that my shitfolio ( various shitcoins together ) is at +85% today while my seriousfolio at +0.2%
i am enjoying it for sure
leave BTC alone for awhile fellas. the best thing for it would be to do nothing for 6 months. it's a broken chart now. BTC even made our local news this week (bad sign)
gold is a function of real yields right now, which have been falling. BTC doesn't trade on that. i prefer platinum/palladium as industrial use metals (and am long PPLT)
gold is a function of real yields right now, which have been falling. BTC doesn't trade on that. i prefer platinum/palladium as industrial use metals (and am long PPLT)
I think it's gonna head down to about half of what it is now, maybe $20k-ish.
At least the small amount of silver I bought for ~$20/oz back in 2008 is now worth more than I paid for it, lol... and I recently spent 6-figures on silver wire which was probably good timing!
Better trade your btc for doge while you still can!
Indeed time will tell
If all this money printing in the world would not result in large scale inflation in the future it would be a worlds first .
If all goes to plan i ll be quad amping my new 4 way speakers .
2 boulder 3050 s for the bass and 2 relentless monos for the mids tweeter ,lol.
Per channel that is
If all this money printing in the world would not result in large scale inflation in the future it would be a worlds first .
If all goes to plan i ll be quad amping my new 4 way speakers .
2 boulder 3050 s for the bass and 2 relentless monos for the mids tweeter ,lol.
Per channel that is
This IS a world's first! Normally I don't care about financial markets much but this time in history is very interesting.
I would NOT assume all this money printing will lead to massive inflation. It's possible the rises in prices we've seen recently are simply a result in disruptions in the availability of products or services that are certainly temporary, a result of covid. OTOH, when do people ever lower prices once they have raised them?
I think a lot depends simply on attitude and beliefs, because interest rates have been so low for so long without the expected result of excess inflation.
Now that has been said before .
Things like
This time its different , stocks will never go down etc .
Everything where there is more of available the price goes down .
If everybody would be able to mine more bitcoins with their home pc , the bitcoin would come down .
How much was a 3060 7 years ago 100 or 110 thousand $ .
Now its like 130 - 140 or someting like that .
In 5 years it could be a million $
Ok, so when there are no more container shortages shipping will become less expensive again, that's almost certain.
My car is 2.5 yrs old with 20k miles and it's worth about what I paid for it new, I am sure this is temporary, when the chip shortage is over and production can begin again at normal rates the value of my car will likely fall by a massive amount, and this goes for the entire used car market.
Same with bikes, good luck buying a mountain bike, some are being re-sold at prices above MSRP by "bike scalpers" right now. Prices will certainly go back down.
I'm 100% certain the increase in prices we've seen is not 100% a result of inflation, it's also result of a pandemic, and if you can't see this as a unique situation, then IDK what to say.
Also, using the cost of HiFi gear as a gauge of inflation might be a little silly.
My car is 2.5 yrs old with 20k miles and it's worth about what I paid for it new, I am sure this is temporary, when the chip shortage is over and production can begin again at normal rates the value of my car will likely fall by a massive amount, and this goes for the entire used car market.
Same with bikes, good luck buying a mountain bike, some are being re-sold at prices above MSRP by "bike scalpers" right now. Prices will certainly go back down.
I'm 100% certain the increase in prices we've seen is not 100% a result of inflation, it's also result of a pandemic, and if you can't see this as a unique situation, then IDK what to say.
Also, using the cost of HiFi gear as a gauge of inflation might be a little silly.
I'm 100% certain the increase in prices we've seen is not 100% a result of inflation, it's also result of a pandemic, . . .
Also, using the cost of HiFi gear as a gauge of inflation might be a little silly.
+1
Well gomna find out out , whos the one who is silly in a couple of yearsAlso, using the cost of HiFi gear as a gauge of inflation might be a little silly.
From all the " high end brands " i think boulder holds relative may be the best value due to its meticulous swiss watch construction
Too many people trying to compile gains with options and shorts etc... aggressive confused bots as well. It looks like... jitter? At least to me. The price moves but nothing else. I expect it to go down. And I want that.
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