Bitcoin drops after climbing to all-time high

[Susco]

I remember there was a time when investing had to do with value, earnings and prognoses. That was a long time ago.

 

Now they could actually move the NYSE to a casino floor in Vegas, as that is where all the gambling happens.

 

Gamestop, which increased again by 100% yesterday, and is already more than 50% up in pre-market trading today.

 

Based on nothing more that tweets and reddit posts, or in other words, pure speculation and gambling

 

[ukrules]

19 minutes ago, Susco said:

I remember there was a time when investing had to do with value, earnings and prognoses. That was a long time ago.

 

Now they could actually move the NYSE to a casino floor in Vegas, as that is where all the gambling happens.

 

Gamestop, which increased again by 100% yesterday, and is already more than 50% up in pre-market trading today.

 

Based on nothing more that tweets and reddit posts, or in other words, pure speculation and gambling

 

Yeah, the game has changed a bit. It's still a game though.

[fdsa]

1 hour ago, rimmae2 said:

So have you maintained a significant investment in BP or similar share without adding to it for the last 10 years or so and made a fortune?

nope, never made any significant investments in shares and made less than 10k USD profit on stocks.

However I made an insignificant investment in digital tulips which yilded a significant fortune over 8 years so I'm quite happy with tulips.

[spidermike007]

On 2/23/2021 at 10:07 AM, donnacha said:

I would be pretty surprised if, by 2030, it only reached 500k.

I'm guessing 60k by the end of this month, 200k by the end of this year. I then expect the economic consequences of unprecedented money-printing to manifest even more severely in 2022, so, 500k by the end of that tumultuous year or, at least, the first half of this decade isn't so far fetched.

 

People are behaving as if there is no correction coming, on the overall economy. Both the housing markets, and the stock markets both appear to be major bubbles at this time. I would not be surprised to see housing prices drop by 50% or more, in the US, condo prices by 50% or more here, and the Dow Jones drop to 3500. Yes, that is 90%. That was not a typo.

 

Granted, some extreme things would have to happen, to set that in motion. But bubble markets always correct. And if you take into account a decade of quantitative easing, and the gross inflation of the money supply, anything could happen. At that time, crypto would likely appreciated significantly, as well as precious metals, ammunition, and alot of other tradable commodities. Fairly easy to envision Bitcoin at $500,000, and Ethereum at $20,000. Not out of the realm of possibility, at all.  

Edited September 6, 2021 by spidermike007

[fdsa]

Breaking News! Bitcoin has PLUMMETED to 51'000 USD from all-time-high 60'000 USD

[The Cipher]

Just musing to myself here.

 

It's a common mantra among those in the know that we're early. And when I look down the rabbit hole of the metaverse and, after having had the misfortune of spending time in a bank branch this past weekend trying to direct a wire transfer, sure. It does look that way. But then I come on here and see that a very different generation and type of investor is already speculating in crypto markets, I can't help but feel there's an important takeaway here. But I can't for the life of me figure out what it is.

[GrandPapillon]

10 hours ago, fdsa said:

Breaking News! Bitcoin has PLUMMETED to 51'000 USD from all-time-high 60'000 USD

amazing, that it's still about 50K USD,

 

no shortage of suckers in this world ????

[Heng]

10 hours ago, The Cipher said:

Just musing to myself here.

 

It's a common mantra among those in the know that we're early. And when I look down the rabbit hole of the metaverse and, after having had the misfortune of spending time in a bank branch this past weekend trying to direct a wire transfer, sure. It does look that way. But then I come on here and see that a very different generation and type of investor is already speculating in crypto markets, I can't help but feel there's an important takeaway here. But I can't for the life of me figure out what it is.

Some of us are early, a lot of us hope we're early, many of us are balls tingling/praying we're early... Because like all things in life, it can really turn on a dime.  Only the first group has nothing to worry about... worst case is you lose $xk-x0k in 'legacy funds.' 

 

[The Cipher]

21 minutes ago, Heng said:

Some of us are early, a lot of us hope we're early, many of us are balls tingling/praying we're early... Because like all things in life, it can really turn on a dime.  Only the first group has nothing to worry about... worst case is you lose $xk-x0k in 'legacy funds.' 

There's no sure thing, but I like to at least try and figure out where in the game we are. Helps me manage my exposure.

 

So my thinking is that you'd expect this community to be made up of largely late adopters (reduced dynamism due to age, unfamiliarity and mistrust of technology, generally NGMI outlooks on the world etc.). But anecdotally based on comments I've read, the participation rate has been higher than I'd have expected.

 

I've also noticed that besides the big two tokens, a lot of the coins that AseanNow folks mention that they're holding are radically different than what I see on other more crypto-focued communities, and rationales for holding and/or understanding of projects also tends to be different.

 

This is a generalization. But I can't help wondering if the above two paragraphs indicate something more meaningful about the market than I've been able to appreciate atm ????.

[fdsa]

Okay the cryptocurrency era is officially over, sell your Bitcoins now.