It was $16k, which it last saw almost two years ago. I think I first mentioned that number over a year ago, not sure though. Sometime soon after Igy got me to read Sornette's book on bursting bubbles, whenever that was.
I think the next bound upward *could* hit a million or higher. Or, it could turn to ash, who the heck knows...
Now that I am verging on retirement, I'm having second thoughts...
I hear you, Igy, too.
Also, for my way of thinking, I would factor in what other opportunities exist and weigh it against them. At this point, or in the foreseeably near future when bitcoin hits $16,000, it would seem that there are a lot more enticing entry points for beaten down stocks, and I would look there first. And for many of the the reasons Agip mentioned.
And lest we forget the abysmal energy suck that most of crypto entails. For that reason alone, I would espounge it,
What was i thinking?!
the thing is, the world is so wealthy that it just might decide to jam BTC to $100,000. But that's sort of the point...it's not an investment based on cash flow so anything can happen. I just don't see that as a viable way to make money.
the thing is, the world is so wealthy that it just might decide to jam BTC to $100,000. ...
I think you are thinking too small... way more upside potential, but purely speculative based on anybody's best guess about future group psychology. A roulette wheel might be the better choice with similar odds of either ridiculous gains or complete ruin, except that a roulette wheel is at least a physically describable experiment, if perhaps still completely chaotic like the markets.
I think you are thinking too small... way more upside potential, but purely speculative based on anybody's best guess about future group psychology. A roulette wheel might be the better choice with similar odds of either ridiculous gains or complete ruin, except that a roulette wheel is at least a physically describable experiment, if perhaps still completely chaotic like the markets.
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DXY hit ~20 year high today at 110.79, rally coincided with a drop to 109.74 currently. EM CEFs started to climb after trading down quite a bit recently.
DXY hit ~20 year high today at 110.79, rally coincided with a drop to 109.74 currently. EM CEFs started to climb after trading down quite a bit recently.
The world is coming to the conclusion that the US is singularly able to survive and prosper in a energy crisis world.
it’s like after ww2…the world is a mess except for the USA. We shall likely prosper.
but a strong dollar will do some massive damage out there.
DXY hit ~20 year high today at 110.79, rally coincided with a drop to 109.74 currently. EM CEFs started to climb after trading down quite a bit recently.
The world is coming to the conclusion that the US is singularly able to survive and prosper in a energy crisis world.
it’s like after ww2…the world is a mess except for the USA. We shall likely prosper.
but a strong dollar will do some massive damage out there.
I think it is more rates driven. WSJ leaks Fed going .75 in September, then thought ECB does like Canada and goes .75 tomorrow. Technically DXY getting stretched. But will it get more stretched? I am pretty confident oil goes to $120+ over winter, along with nat gas spiking who knows where.
Three months ago when the DXY was 102 WTI was at 120. Makes sense with WTI traded largely in dollars. I would suspect all this reverses as US gets closer to slower Fed hikes, winter, and realization US is not any better off than everyone else. Perhaps worse vis-a-vis flooding the system with stimulus and going off the teat.
Cleveland Fed's nowcast of inflation is predicting lower numbers.
Now it thinks 3Q CPI will have a 5 handle and 3Q PCE a 4 handle. I think. Not sure I quite understand what they are trying to show.
Stocks have to see that as the chance for the Fed to stop raising rates so much. Which would be extremely bullish for stonks.
Although the numbers are tricky - they don't have a great way of presenting them. And I may be misrepresenting them. Notably, august inflation will be quite high, they think.
and...here...we...go. Indeed expect more and more central banks to recognize that inflation is coming down hard and central banks don't need to apply the brakes so violently. With extraordinarily bearish sentiment this could be a strong rally.
jeroen blokland @jsblokland Reserve Bank of #Australia Governor Philip Lowe states that despite the need for further rate hikes, 'the case for a slower pace of increase in interest rates becomes stronger.' Expect more central banks to adopt this tone as # inflation comes down and growth weakens.