Bitcoin is still early

[burritos]

To be fair, my own equity index portfolio is also cratering. Payday this friday, will throw in in my biweekly contribution into the woodchipper.

[Zzyzx]

terra and luna are doing fine

[xraygoggles]

terra and luna are doing fine

Another algo stablecoin bites the dust - & this time, they brought down BTC and the rest of the market with it (DoKwan had to sell $1.4 billion of BTC as a desperate last gasp in a feeble attempt to save the UST peg)

[Brains428]

There are certain risks to well known hodlers to liquidating- whether it be chosen or forced (TSLA/Musk or Saylor/MSTR- the latter with potential forced liquidation). Apparently 40% of people who bought it are now under water.

I don't think it goes to zero, but who knows. I still think everyone has a loss threshold, or a time threshold to sit with that loss.

[billy]

To be fair, my own equity index portfolio is also cratering. Payday this friday, will throw in in my biweekly contribution into the woodchipper.

I'm loving the stock market sales, because I'm an index investor. I'm also throwing whatever money I can into the market right now. If I were an individual stock investor, I'm not sure I'd be feeling the same. Easy for one company to fail, near impossible for all the companies to fail without new ones rising up, and if that happens we'd have to be in really really deep doo-doo.

So are the bitcoiners who were saying it can only go up actually buying more and more now that it fell? If you believe in bitcoin reaching/exceeding the same peaks, you should be. If youre not, then maybe you dont believe in it as much as you thought you did, or youre acknowledging that the last year's price was an aberration. (thats a generic you, not aimed at anyone in particular btw).

[jacoavlu]

I'm loving the stock market sales, because I'm an index investor. I'm also throwing whatever money I can into the market right now. If I were an individual stock investor, I'm not sure I'd be feeling the same. Easy for one company to fail, near impossible for all the companies to fail without new ones rising up, and if that happens we'd have to be in really really deep doo-doo.

So are the bitcoiners who were saying it can only go up actually buying more and more now that it fell? If you believe in bitcoin reaching/exceeding the same peaks, you should be. If youre not, then maybe you dont believe in it as much as you thought you did, or youre acknowledging that the last year's price was an aberration. (thats a generic you, not aimed at anyone in particular btw).

always buying. Same as stocks. Boglehead approach. Only buy what you’re willing to hold long long term like decade+

[chocolatebear11]

always buying. Same as stocks. Boglehead approach. Only buy what you’re willing to hold long long term like decade+

Been looking at where the markets can lead to (have been hoarding cash since January), according to fed, they don’t care about markets and looking to get back to pre pandemic levels.

sp500 would need to drop another 15% to get to that level.
NASDAQ another 20% for a total of 40% since ATH

btc prepandemic is around 10k, which would be 85% correction consistent with other bear markets.

food for thought since Bitcoin has never been through a long recession before (created after 2008 crash).

[jacoavlu]

Been looking at where the markets can lead to (have been hoarding cash since January), according to fed, they don’t care about markets and looking to get back to pre pandemic levels.

sp500 would need to drop another 15% to get to that level.
NASDAQ another 20% for a total of 40% since ATH

btc prepandemic is around 10k, which would be 85% correction consistent with other bear markets.

food for thought since Bitcoin has never been through a long recession before (created after 2008 crash).

hoarding cash, do you have a plan?

[Hank]

hoarding cash, do you have a plan?

But cash can’t lose value, right?

[xraygoggles]

Actually: USD has been mooning this year & is the second best performing asset this year behind commodities.

Also, not sure why people say cash is losing value to inflation, like no other asset is also. Cash is losing 7% to inflation, equities down 27% with inflation YTD, bitcoin down 40% with inflation YTD.. et al.

Cash is King.

[auggie1983]

With that logic, fixed rate long term debt is king (discounted cash)

[xraygoggles]

With that logic, fixed rate long term debt is king (discounted cash)

Not in an era of rising interest rates.

[jacoavlu]

Actually: USD has been mooning this year & is the second best performing asset this year behind commodities.

Also, not sure why people say cash is losing value to inflation, like no other asset is also. Cash is losing 7% to inflation, equities down 27% with inflation YTD, bitcoin down 40% with inflation YTD.. et al.

Cash is King.

selling assets for cash then?

[xraygoggles]

selling assets for cash then?

Too late for that - horse already out of the barn - better to have set cash reserve/allocation - then deploy during times of increased vol like rn.

[xraygoggles]

btc prepandemic is around 10k, which would be 85% correction consistent with other bear markets.

food for thought since Bitcoin has never been through a long recession before (created after 2008 crash).

Yep - important to keep things in perspective.

BTC went from 3k to 69k because of unprecedented money-printing, market mania, & historically low rates. When the Fed pulls the rug, like they are doing currently, it will deflate close to the starting value. Even a 75% drop from ATH means 17.5k BTC. People saying it will never fall below X dollars are essentially saying 'This time is different.' Those are usually famous last words.