Bitcoin is still early

[Panscan]

Where did you see the India thing? I haven't seen that

[NapoleanDynamite]

Figured I'd bump this. Fed isn't looking at tightening, India walked back a crypto ban, so BTC is on the way back up. I doubt the stimulus checks will effect the price much.

My short term educated guesses on this are still in the 75-250K over the next 9 months. My long term sights on this are still 1M and possibly beyond. Could be 2-4 years...could be 5-10 years. Right now I'm still buying albeit at much lower levels than I was 1 year ago as the position already represents approx 30% of my portfolio.

The question in my mind is if it rapidly shoots to above 250K in the next 6 months, will I rebalance and take some off of the table in expectation of a correction or not? I don't have the answer here but I am preparing mentally to do so. As I have previously mentioned, I might take some off the table for a real estate buy. But I would likely try and replenish that position during any dip that may or may not occur going forward. Of course if a dip never occurs, I would likely never be able to fully replenish that exchange.

Another question I have is when people will start admitting they are wrong about Bitcoin? At what price/market cap will people start admitting that they should have it as part of their asset allocation in their portfolio? I thought more people would start realizing their mistakes around 1 Trillion mkt cap. Will it be 5T mkt cap or 10T closer to where gold currently is? That is 10x from here or BTC price of roughly 500K.

[jacoavlu]

My short term educated guesses on this are still in the 75-250K over the next 9 months. My long term sights on this are still 1M and possibly beyond. Could be 2-4 years...could be 5-10 years. Right now I'm still buying albeit at much lower levels than I was 1 year ago as the position already represents approx 30% of my portfolio.

The question in my mind is if it rapidly shoots to above 250K in the next 6 months, will I rebalance and take some off of the table in expectation of a correction or not? I don't have the answer here but I am preparing mentally to do so. As I have previously mentioned, I might take some off the table for a real estate buy. But I would likely try and replenish that position during any dip that may or may not occur going forward. Of course if a dip never occurs, I would likely never be able to fully replenish that exchange.

Another question I have is when people will start admitting they are wrong about Bitcoin? At what price/market cap will people start admitting that they should have it as part of their asset allocation in their portfolio? I thought more people would start realizing their mistakes around 1 Trillion mkt cap. Will it be 5T mkt cap or 10T closer to where gold currently is? That is 10x from here or BTC price of roughly 500K.

plenty are already capitulating. I did. Lots of institutions. Shark tank guy. Mark Cuban I think, at least he stopped arguing against it and now he’s shilling NFTs so I’m sure he has a position . Dave Portnoy has come back. Several others in this thread and I’m sure there are more too proud to admit it in the light of day.

the news is incredibly bullish and so is the on chain analytics. The recent sell off from traders thinking we had a local top it seems was largely based on inaccurate interpretation of a large move of coins initially interpreted as a whale dumping but was not the case.

everyone buys at the price that they deserve

[CordMcNally]

India walked back a crypto ban

I wonder if they decided that this would be nearly unenforceable.

[jacoavlu]

meanwhile, price discovery in the free market remains unmanipulated for sure

https://twitter.com/tiktokinvestors/status/1350854473598558213?s=21

[Panscan]

lol love the picture day trading their roth

[G]

plenty are already capitulating. I did. Lots of institutions. Shark tank guy. Mark Cuban I think, at least he stopped arguing against it and now he’s shilling NFTs so I’m sure he has a position . Dave Portnoy has come back. Several others in this thread and I’m sure there are more too proud to admit it in the light of day.

the news is incredibly bullish and so is the on chain analytics. The recent sell off from traders thinking we had a local top it seems was largely based on inaccurate interpretation of a large move of coins initially interpreted as a whale dumping but was not the case.

everyone buys at the price that they deserve

Haha I guess put me in the capitulate camp: I bought some gbtc when one of the posters here commented along the lines of "I'm not a fan of bitcoin, but I can still make money on it." That resonated. I've thought the blockchain concept was interesting, I just dont know if BTC will be The One. I do love the multipliers that folks toss around, because if someone said that of any other commodity/company/currency, there would be belly laughter.

[Panscan]

Haha I guess put me in the capitulate camp: I bought some gbtc when one of the posters here commented along the lines of "I'm not a fan of bitcoin, but I can still make money on it." That resonated. I've thought the blockchain concept was interesting, I just dont know if BTC will be The One. I do love the multipliers that folks toss around, because if someone said that of any other commodity/company/currency, there would be belly laughter.

but what other commodity is there that we are watching massive uptake in real time?

[G]

but what other commodity is there that we are watching massive uptake in real time?

At what point does the Hawthorne effect come into play?

But an interesting question. Tulips, perhaps? Seriously, not trying to be obtuse, perhaps it is like electricity.

[jacoavlu]

Haha I guess put me in the capitulate camp: I bought some gbtc when one of the posters here commented along the lines of "I'm not a fan of bitcoin, but I can still make money on it." That resonated. I've thought the blockchain concept was interesting, I just dont know if BTC will be The One. I do love the multipliers that folks toss around, because if someone said that of any other commodity/company/currency, there would be belly laughter.

of course it is the one. You can’t replicate the origin story

[jacoavlu]

@G is wise and I believe shares my libertarian streak, a natural bitcoiner

[G]

of course it is the one. You can’t replicate the origin story

Sounds like something a Roman might say, about anything Roman....😉

[xraygoggles]

My short term educated guesses on this are still in the 75-250K over the next 9 months. My long term sights on this are still 1M and possibly beyond. Could be 2-4 years...could be 5-10 years. Right now I'm still buying albeit at much lower levels than I was 1 year ago as the position already represents approx 30% of my portfolio.

The question in my mind is if it rapidly shoots to above 250K in the next 6 months, will I rebalance and take some off of the table in expectation of a correction or not? I don't have the answer here but I am preparing mentally to do so. As I have previously mentioned, I might take some off the table for a real estate buy. But I would likely try and replenish that position during any dip that may or may not occur going forward. Of course if a dip never occurs, I would likely never be able to fully replenish that exchange.

Another question I have is when people will start admitting they are wrong about Bitcoin? At what price/market cap will people start admitting that they should have it as part of their asset allocation in their portfolio? I thought more people would start realizing their mistakes around 1 Trillion mkt cap. Will it be 5T mkt cap or 10T closer to where gold currently is? That is 10x from here or BTC price of roughly 500K.

150k seems to be the consensus in the next 6-12 months, with a possible blow off top at 250k, before a correction.

There will be a lot of selling if/when it reaches 100k.

Of course, this is all based on tea leaves, aka technical analysis, which I don't believe the least bit.

[jacoavlu]

Sounds like something a Roman might say, about anything Roman....😉

I’m serious. Bitcoin is unique among crypto. Truly decentralized. No pre-mine. Uniquely positioned in this macro environment

[Brains428]

Panscan- https://www.indiatoday.in/business/s...328-2021-03-15
Their supreme court also already ruled it unconstitutional to ban the trading of it earlier this month.

100K seems to be the resistance level everyone points to, if it gets there. There will be camps that view BTC and crypto as a revolution, and others in the finance space that simply see it as asset diversification.

NFTs seem like a really interesting space. I don't know about this whole digital art thing, but if it helps prove authenticity, then that would show it's uniqueness and value. The possibilities seem endless, but its also really early and I don't have that kind of money to burn.

Anyways- I jumped on the train of earning interest on my crypto. Who would've figured- putting money somewhere that earns interest.