Bitcoin...how much do you have?

[KhalDrogo]

Originally Posted by jcardstore

All the talk in this thread just means you guys helped me time the bottom almost perfectly. So thank you

The BO inverse indicator is absolutely undefeated

When the headline is “Michael Burry predicts Bitcoin goes to $0”, you know you’re getting warm.

[Sticks33]

Originally Posted by jcardstore

What I bought doesn't matter. You guys are just so good at calling tops and bottoms.

It's like the story about the postman or the taxi driver asking for stock tips coinciding with the market top.

"You guys"--who are you referring to?

And you didn't get my point at all. I don't care what you bought. My point is, two days ago, you told everyone to dump all their money into BTC because this thread meant it hit the bottom. Then, BTC went down $13,000 the next day. You are guilty of EXACTLY what you were complaining about--people calling the top or bottom. You were way off, just like everyone else is on the internet about investments.

Get it?

[2010GBPackers]

I need to park my money in something that swings 20% in 24 hours. Can anyone give me some recommendations?

[Siberian13]

Originally Posted by 2010GBPackers

I need to park my money in something that swings 20% in 24 hours. Can anyone give me some recommendations?

Give XRP a go

[jbabz84]

What on earth is happening with bitcoin? I check it out here and there as I have a mate with 3 coins (he purchased them in 2017)
6 months ago it was around 115k USD, now around 65-70k
Was it too high and everyone is cashing out, or more to it?

[KhalDrogo]

Originally Posted by Sticks33

"You guys"--who are you referring to?

And you didn't get my point at all. I don't care what you bought. My point is, two days ago, you told everyone to dump all their money into BTC because this thread meant it hit the bottom. Then, BTC went down $13,000 the next day. You are guilty of EXACTLY what you were complaining about--people calling the top or bottom. You were way off, just like everyone else is on the internet about investments.

Get it?

He didn’t call the bottom. He just said to buy it because the rhetoric is a good contrarian indicator. You shouldn’t be buying bottoms. You should be buying declines. That’s what investors do. Now whether or not you view crypto as investable is another conversation.

There is no being “way off” after one day unless you pigeon holed yourself into a one day trade.

[Sticks33]

Originally Posted by jbabz84

What on earth is happening with bitcoin? I check it out here and there as I have a mate with 3 coins (he purchased them in 2017)
6 months ago it was around 115k USD, now around 65-70k
Was it too high and everyone is cashing out, or more to it?

The main take away from this thread, if anything, is that no one knows. There are no fundamentals to examine, no data to mine (pun intended), it’s purely sentiment. It could be up to 100,000 next week, it could be down to 60,000 again. Don’t let anyone tell you they can predict what will happen. That’s all smoke and mirrors

[jdandns]

My people are telling me they'll go to zero sometime in the next 2 or 3 weeks.

[2010GBPackers]

Retail investors getting pummeled trying to time the waves. ETF's shying away from sinking money into an asset that has been speculative for over a decade, and with no scalable utility in sight. Countries seizing crypto from illegal schemes and holding it suppresses its liquidity. Double-digit wipeouts with no singular event to point to. The true-believer whales are the only thing holding this together.

[2010GBPackers]

The slide continues....

[JoshMN]

Originally Posted by 2010GBPackers

Retail investors getting pummeled trying to time the waves. ETF's shying away from sinking money into an asset that has been speculative for over a decade, and with no scalable utility in sight. Countries seizing crypto from illegal schemes and holding it suppresses its liquidity. Double-digit wipeouts with no singular event to point to. The true-believer whales are the only thing holding this together.

Don't forget about gold. People said the best use case for BTC was that it's supposed to act like digital gold as a "store of value" and hedge against inflation or the stock market. The trends on the two assets have completely diverged though... gold up 75% over the last year & near all-time highs; BTC down 32% over same period and 50% off all-time high.

[2010GBPackers]

Originally Posted by JoshMN

Don't forget about gold. People said the best use case for BTC was that it's supposed to act like digital gold as a "store of value" and hedge against inflation or the stock market. The trends on the two assets have completely diverged though... gold up 75% over the last year & near all-time highs; BTC down 32% over same period and 50% off all-time high.

Let's not forget the velocity at which technology moves, either. Bitcoin has been active since 2009, but mainstream since 2013ish. That's a lifetime in technological advancement. The issue is that Bitcoin is running out of time to be useful. Plus, it might get wiped out by quantum computing anyway. How anyone holds this stuff is beyond me.