You mean a major player on the global stage? Wake me up when it happens.
Bitcoin Price Thread
- Thread starter Magna
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To be fair, this is how most miners and just about all of REITs operate
Defaulted on their gold obligation. No.
They changed the rules. Happens.
Broke. No.
Broke is nothing is left. Nottttttttthing.
It may happen at some point.
But the British Empire is no longer, Pound Sterling is.
That’s the point I’ve struggled with the most, WHY does bitcoin have value. After almost a decade of thinking there’s no way BTC is sustainable (due to governments control over economies) I decided to go with the flow. Right now I’m betting the flow will continue upwards. BTC going to zero is no longer a rational bet unless the whole world economy explodes in an SHTF kind of way. And even then it’s a wild card whether it will go up or down. I’m not all-in like John (currently BTC is 3% of my portfolio) but if he’s right I’ll be better off than 99% of the people I personally know. If BTC mainliners are dead wrong I won’t be ruined either. It’s a low risk/high reward investment from my perspective.
Larry Fink and friends ARE major players on the global stage. I’ve also read that the Rothschilds have started buying….
Isn't that kind of what Tether is doing ?
Yeah $40K has a lot of support, but in order to get there the ES would have to drop probably like 10% or so. That probably means a slowing economy or further escalation in the Israel-Hamas-Iran conflict. That is what triggered the last 6% pullback.It's worth knowing that BTC is more or less shadowing the equity market. They both go up and down at the same time. So from a technical perspective, I don't see just how BTC could go up to $1M by the end of this decade unless S&P500 also rises to $100K. But then again, who knows? Ya just never know.
Anyway, if you're thinking about buying BTC and you don't mind waiting, I say wait until it goes down and retest that trendline, which I believe will be around $37K and $40K. That's about 50% pullback from the ATH and you will have saved $35,000. Now, that's a REAL SAVING!
#50%OFF
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Many of these institutional players are holding spot and shorting a derivative. The market is much more sophisticated now.
Bitcoin is the only asset that is priced at $60k and seems like it has crashed with no hope
$100k will be here soon™
Laser eyes was so last cycle..
yet, ABS "Always Be Stacking"
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Yeah the genius' that ran LTCM were betting on a ludicrous investment philosophy called reversion to the mean. It blew up in their face. Lee Meriwether III thought bringing in 2 Nobel Laureates (Fisher Black & Myron Scholes) would somehow make them look good. Unfortunately a Nobel Laureate doesn't mean you know anything about trading.It was not that long ago when I was hearing people so sure of themselves that both America and Russia could not and would never do such a thing as default on their debt... unthinkable.
Even when the asian crisis was spreading, these types were so confident on trading forums poh-pohing all the FUD...
And then... it happened. Now we don't hear about hedge funds like LTCM anymore, after leveraging up on bond spreads to the tits. Of course, the excuse after all the dust settled was "The default was a 10-sigma event! How could it have been predicted?! Impossible!"
And now we're hearing the SAME SHIT right now AGAIN...
Some things never change...
Special props to Taleb, who was invited just prior to the blow-up at Long Term Capital. He gave stark warning about the foolish risk they were taking on that trade.
They didn't listen to him.
Betting the ranch on Russian Sovereign bonds just because their yields were above normal historically & leveraged at 100:1 was a disaster that almost broke the international banking system. So Greenspan and cronies had to bail them out with an unprecedented liquidity pump. Of course they would repeat that in 2008, most of the 2010s QE nonsense & 2020.