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Discussion in 'Crypto Forum' started by Spencer-Ho, Oct 14, 2020.
Even more, they are saying that Tesla will accept it as payment. That is huge.
Proper throwback to the breakout point? This might go back to 40-42k before going higher... will look to buy it back there.
Nope, turned out to be a high tight flag (of sorts). Never went below 44k.
Impressive price action.
This will eventually filter down to the cheaper cryptos.
Does my opinion count?
Gotta keep the DCA buying moving with BTC, but man it's getting to the price point now where most DCA buying is in small Satoshi's. Buying firm fractions on a regular basis to chase a quarter, half or full coin is now the text book definition of an uphill battle....
My uneducated opinion is that for those who are already in, the best ways to enhance BTC holdings at this price point forward are going to be currency swaps based on ratio relationships. Unless the holders here have regular magnitudes in the thousands to DCA their BTC holdings with.
Thats why we are seeing the alt coins outperform.
For BTC to go from 50k to 100k is a lot of pushing.
I personally think BitCoin of true value to only people who operate in the black market. It's current valuation at 37,500$ per coin is grossly over-valued in this retards opinion.
I think as "enhanced," unemployment benefits have ended and continue to end, I think a lot of people are going to start feeling the effects from inflation and as a result start pulling that money that they were able to invest because they did have extra money.
As a result by the end of 2021, I think we will see BitCoin correct itself and end back around the 22-25k$/coin range.
But hey, these are just this ape's feelings....
I dont know anyone who would accept BitCoin unless they are a speculator and operate a business that offers a service and not a commodity. BTC's volatility and high uncertainty make it impossible for mainstream adoption.
I know BTC is volatile and will hopefully jump back up but 4 days later, down another 4k's... That is about how much it dropped during May, about 1k$ a day...
Down to 33,5 right now .....
Part of me wants to trust my gut and dump with little I have. But I know I am a retard who knows nothing so it could just as easily triple in value the moment I click "Sell"
I have told myself to not make any decisions until Friday. If it goes another full week and has tanked another 5-6k$, I am selling and putting my money back into stock.
This is the exact kind of language you expect to see in bear markets. Its the end, things will only get worse and what ever Im holding can only go down.
I like it!
I dont feel that way about everything. Only cryptocurrency. I have watched lots of podcasts and youtube videos and all kinds of things to try and educate myself but I just cant buy into it as a currency. But like I have said. I know nothing. Just my gut feeling.
and you must admit, BTC is in quite the decline. 750$ in value lost on average every day for the last 30 days....
Oh for sure, and its dumping right now as I type.
The volatility on crypto is really something to behold!
Coming from the equity side, its unnerving, but pretty much the norm for crypto.
I believe that in the future BTC will have some relatively stable price. But alts will always be volatile, my opinion.
I am looking for an acceptable exit strategy currently for BitCoin. I am going to give it another week or two and see what happens but I absolutely expect a crash also. I think the investments sector in general was another big beneficiary of the pandemic stimulus money. You had millions of people stuck at home with extra cash not knowing what to do with it. They found out about this new this called BitCoin, which actually wasnt new at all it was just new to the mainstream and everyone saw it as a "Get Rich" scheme. Many did. Those who were hip and hopped on it as soon as the pandemic started, or shortly after, have seem phenomenal return. Those days are over. I in no way mean that BitCoin is dead. BitCoin may well be the future. But not at 64-70k$ per coin and not at 32k$ a coin either. I have zero clue but I dont think the creator of BitCoin ever intended for it's value to rise to the point where 1 bitcoin is equal to 1 year salary in the United States. I could be wrong.
I could be wrong about everything. Elon Musk might Tweek that he loves BitCoin and will make a pornovideo with a Bitcoin Logo and maybe it explodes again, who the fuck knows anymore. Just look at Doge coin.
Even though I am extremely bearish short-term, I do believe in BitCoin's potential to re-rise to it's previous level. I just think it may take 5-6 years to happen. I predict an end of summer crash as people pull their money out to pay bills and prepare for consumer holiday spending.
I think Labor Day, September 6th is going to be an important time. Not that specific day per-say but around that time I believe is when we will see a major pullback, unless it happens sooner as a result of other people thinking the same way that I am.
Some are old here lol. Im old too 45 lolol.
Thats perfectly normal.
Remember that Warren Buffett didnt invest in the internet during the 2000. He said didn't "get it".
So far my horizontal count shows it is either going sub-zero or up to 69,000. The longer it stays in this trading range the more cause will be built for higher price (the bigger the smart-money accumulation), that is, assuming a bullish bias, that it is indeed being accumulated by strong hands.
My opinion is to always buy the big dips and pullback. Long term this will continue to rise
Yep, he dodged the bubble, but caught the next run when the sector matured.