Bitcoin has climbed more than 10% this week, outperforming stocks
- Thread starter MarkBrown
- Start date
Rather meaningless 1 week.
Bitcoin for example has a lot of catching up to do.
For past 12 months SPY is down 10% while bitcoin down 38%.
25000 level is what I'm waiting for to see how it reacts and at the current speed its moving that should not be very far away.
That's fair, but if we were to change the metrics one more time and consider the March 2020 low, I've got ES up 83% and bitcoin up over 400%.
It has been a great week for Bitcoin, no doubt, but don't let this market rally fool you because we may not be out of the woods just yet. We have more regulation coming this year, XRP still has a court case to win, the FED might not pivot yet and wants to see the markets dump before it gets better. A lot of negativity in the space right now, and too you have to think that this rally could also be big players trying to unload, so take it with a grain of salt and trade accordingly.
Right now, I've got those big tingly warning signs. Like the great dead-cat-bounce that happened in the financial crisis. I'm talking about the great one that even Buffett fell for and started buying into thinking the bottom was past-due. Oooopsies. It was a long, long, long way down still from that bounce.
Maybe the big guys in crypto know something that I don't... maybe Gemini & Genesis are really the last two dominoes to fall (for reasons). Or the other institutions next to be hit are too little to matter, so contagion is relatively contained now. But....
I think not.
Maybe the big guys in crypto know something that I don't... maybe Gemini & Genesis are really the last two dominoes to fall (for reasons). Or the other institutions next to be hit are too little to matter, so contagion is relatively contained now. But....
I think not.
Ya should have jumped in when I shouted "Don't sell here, you bunch of noobs!" You're just jealous you missed the move.
