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Bear market rallies are brutal. Only needs to 3.2x from here to return to ATH lol
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Depends on what the risk sentiment is going forward. If people think that the worse is over, inflation is trending down, and upcoming earning season is decent, I wouldn't be surpised if BTC goes 2x. I think the chance of BTC going to 40K is much higher than going to 0.Comment
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Agree that's a better question. My personal thought is that BTC receives alot of support around 20K probably because that's the cost to mine 1 BTC. It spends most of the 2nd half of last year at 20K until the FTX fiasco that drops the price down to 16-17K, but now has bounced back to 20K again. For it to drop to 10K, I think some sorts of catastrophe have to happen (Binance or some major stablecoins collapsing), but it only needs some moments of enthusiasm to go to 40K. So yes, I think the odds of BTC hitting 40K is higher than going down to 10K. I own several BTCs with a cost basis around 17K and feel comfortable holding out long-term. I would not buy BTC if it is above 20K.
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keep in mind lots of these bad actors who blew up were also major positive catalysts on way up. Ftx, 3 arrows etc. all of these groups were basically max long with huge leverage it seems. So framing the current price relative to prior ATHs may not be reasonable as long as the tailwinds crypto had before are gone.
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Oh well. Guess I was the only one buying in the Spring of 2020 and I should expect to be the only one buying now. Will keep buying too. Continue to DCA just like I DCA into equities and real estate. Boring but pays out handsomely over time.
I think what you all are missing is common amongst investors/traders. You lack understanding as to why the Bitcoin price will continue to be volatile for a long time, what problem Bitcoin actually solves, but also lack the education as to what development is being done as we speak in regards to the Bitcoin network. So...see you in the next "bubble" when the price is far higher than the current price or the past ATH. In the mean time keep ripping away at how bad an investment Bitcoin is.Comment
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Don't spoil it for him with math!
Just let him have his victory lap. BTC is up 30% YTD. I've got a neighbor who told me he put all his money into BTC miners last month and has had a 100% return on his portfolio since then. The only appropriate response to that is "Congratulations!" even if I really worry about what that sort of risk taking can do to a portfolio in the long run. I'm not really surprised to see BTC going up although I would have guessed it would not have done so for a while yet. I've been pretty surprised to see how correlated it seems to be with stocks the last year or two.Helping those who wear the white coat get a fair shake on Wall Street since 2011Comment
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Replace with lighting money on fireOriginally posted by Yoshi SotoComment
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If you've been buying since last year, then you were buying from 40k all the way down to 15k. That is not really a good way to go about it. Your average cost basis must be between 25-30k average?Originally posted by Yoshi Soto
Bitcoin and crypto goes through cycles. It's possible we have bottomed and now may be a prudent opportunity to pick up some corn and eth. I wouldn't touch alts since they've had big moves lately. Save those for the true bull cycle, which won't happen for another year or two most likely.Comment
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1) why the Bitcoin price will continue to be volatile for a long time?
2) what problem Bitcoin actually solves?
3) what development is being done as we speak in regards to the Bitcoin network?
Finally. after 231 pages just answer 3 questions or provide links or comment # that you answered previously.
Short form please. Just 3 questions.Comment
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