seattle prattle wrote:
Hardloper wrote:
Well were the wrong? Buy an amount you can afford to lose completely and then hold. "Momentum tricks" don't work.
100K isn't a comical valuation... 200K was my target when I first bought 5 years ago. The market cap of all cryptocurrencies put together is still significantly less than precious metals. (BTC price would have to be $600K to equal the market cap of gold.)
Maser wrote:
Seattle, it could just as easily be true that whales have diamond hands, and rather than selling are taking loans against their crypto holdings, same as people do with stocks, to reduce their tax burden.
As far as I can see, there is no indication that whales are pumping and dumping to the detriment of the everyman.
That could entirely be true. Just a hunch on my part, and no doubt much of it out of the paranoia that i have since it is largely an unregulated market.
We don't know.
What has been disappointing to me, nonetheless, is not that it has dipped to these levels, but that it has languished there for so long. I am just speaking for myself, but bitcoin fit the speculative play relative to my other holdings, and for all the uncertainty and unregulated baggage that came with it, a significant lack of momentum was a deal breaker for me.
Again, I don't doubt that I may be totally wrong. I will go so far as to say that my trading strategies towards crypto have unquestionably been the worst of anything I have ever touched, and fortunately I wagered relatively little.
Found this old discussion from 7 months ago about BItcoin and where we thought it might be headed at the time, since it is now back in the 18,000's again, believe it or not. IF it were to go a little lower, i would consider nibbling. I mean, that's the time to buy - when it's just ravaged and capitulation sets in, with limited downside from those greatly reduced levels.