what gives you that indication? the market is consolidating right now before the next leg up. Great time to take a position
-
ODT Gun Show & Swap Meet - May 4, 2024! - Click here for info
Bitcoin anyone? Crypto?
- Thread starter Realtor
- Start date
what gives you that indication? the market is consolidating right now before the next leg up. Great time to take a position
have fun trying to catch that falling knife
just my two cents. i think the boat sailed mid may for the most part. my thinking on this is the market is over saturated with crypto products. clones of eth based blockchain that offers nothing new or real utility. plus with the treasury coming in and effectively applying the rules of a security to crypto (nevermind the SEC suing ripple for same thing lol) makes it less attractive to me
in short its becoming the stonk market
why do you think its about to surge again? a dead cat bounce or do you think bitcoin will pump back to 60K because its basically hit its resistance of 30k or will soon IMO
bull market cycle is every 3 years (supposedly) and we are entering the bear i believe. i could be wrong but we never saw alt season pump like it was supposed to either
and **** coinbase too; they pissed me off a good bit recently
Crypto is a hedge against inflation and our crappy government printing money like monopoly money.
Sell in May and run away has been the old adage but all signs are pointing to smart money rotating back into growth stocks. If you look back in January a lot of small cap stocks started being ladder attacked down and stayed on a downtrend for the most part but the algos are starting to show signs of reversing.
As far as BTC goes it is still up over 200% YTD so it consolidating is normal and I think we will see new all time highs before this year is over
no, thats precious metals. boomer rocks are better as a hedge, crypto is good for gains IMO
how long do you typically hold crypto?
Don’t take my word for it go look for yourself. Lots of big institutional investors and billionaires as well as many others getting into crypto as a hedge against inflation. My opinion the recent downturn of Bitcoin was amplified by big money trying to shake off all the “dumb money” so they could get in cheap.
‘There is no universal answer on how long to hold. Like nearly everything it all depends.
this thing happens in cycles
bit rose
eth rose
alts supposed to follow, they kinda rallied, we are now in bear market possibly (im not sure but im also not buying, im getting out for the most part)
and just because alot of folks do something dont make it a good idea. what is their reason for it being a hedge? for me it doesnt meet much of the tests; it holds no intrinsic value, its not backed by a long standing history of valuation (far too volatile), and aside from peer to peer transfers its only value is speculative really. etheruem and other coins are already superior to bitcoin for transactions and with eth2 launching its only going to get shadowed but this market is growing at an alarming rate; given how the money supply is created the crypto market honestly leaves alot of questions answered. lets face it, there is a correction coming due to the very nature of how fiat has operated these past 50 years and crypto is not immune to the fiat issues or inflation itself.
btw im still holding some crypto, im not out completely and dont think anyone should be i just dont see bitcoin rallying past 60K again anytime soon. if it doesnt dip below the res line at 30K then that may be the new low
If you bought at $65K, you are dead today. You paid a big commission to buy and will pay a big price to get out.
You can't really spend it to buy a car or land or gold.
What if your $65,000 is stored in a computer in Russia with Putin in charge? You have no clue where it is.
You are simply buying a trade that big players (the big Hedge Funds) will sell faster than you can.
You are buying a hope and a prayer: It's a scam.
