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Is Bitcoin going to zero?


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2 minutes ago, stoner said:

around 14k. average drop after bull run is about 81 percent.

Yep agree.

 

About double shares. 41% avg bear mkt.

 

Next 3 to 5 months can buy great shares cheap.

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Just now, Doctor Tom said:

Bitcoin, and its like, is a confidence, almost a fantasy proposition.  It has no intrinsic value and is not tied to any kind of financial  measures that can give investors any kind of reassurance, in other words, its more of a gamble that a reality.  While people think that it exists,  then it does exist,  The moment that they think that it doesn't exist, then it will disappear in a blaze of smoke and despair .  It is impossible to predict its future, as normally accepted economic drivers do not seem to be an influence on value. even over a short period, it could rise to unprecedented levels on a wave of blind confidence and speculation, or it could just as easily disappear, almost over night. To me, its an unjustified gamble, a bit like derivatives, or spread betting.  I would put them all in the same set.  This is, of course, a very personal view. 

Derivatives have time frame. They expire.

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11 minutes ago, FritsSikkink said:

Shares depend on the earning capability of the company, got NOTHING to do with a cycle. Bitcoin isn't a share.  

Markets move in cycles though. Economic booms and busts produce 7 year cycles. Those impacts alter profits.

 

Higher rates means less consumer spending plus higher debt repayments reduces company profits.

 

1966 crash

1987 cash

2001 dot com crash

2008 gfc

2022 inflation ...crash or correction

 

 

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30 minutes ago, Sparktrader said:

Some people might be jumping off buildings.

I have my share of building jumps, spans, cliffs and antennas even airplanes. Everything is possible 😉

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1 hour ago, CharlieH said:

I bet this country will be in trouble if it does......

 

"El Salvador became the first country in the world to adopt Bitcoin as official legal tender. President Nayib Bukele, a major crypto advocate, framed his country as a pioneer and launched a state-sponsored crypto wallet , volcano-powered crypto mines , and a utopic Bitcoin city"

Yep, when I was on assignment there in 1981, the currency was the Colón, it was pegged to the Dollar at a rate of 2 Colóns for one Dollar, which was also legal tender. Now the Colón got buggered and is worth about a tenth of a Buck. So let's not analyse this to death, but the Bitcoin is a..holed too..

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Of course it won't go to zero. 

 

Personally, I think the bottom is in at the prior all time high in 2017, 19k.

 

I don't think there will be new all time highs until Dec, 2023.

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1987 crash

1994 correction

2001 correction

2008 crash

2015 correction

2022 correction?

2029 crash??? (100 yrs from 1929 crash)

 

 

Anyone spot the trend???

 

I

 

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My expert told me to dollar cost average in at $21,000.

 

When it rises to 200k in 2 years, it won't matter if you bought at 21k or 19k.

 

The same expert told me to DCA when BTC had fallen from 19k to 3k in 2018, great advice. 

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