Bitcoin Price Thread
- Thread starter Magna
- Start date
Anybody knows what was the cause of the last drop? News says it is Coinbase outages, anything serious? Burned my two longs on BTCUSD in Hotforex, thankfully stop losses were tight and liquidity was sufficient to close without slippage.
Anyway it's just another pretext for many others to jump in.
Anyway it's just another pretext for many others to jump in.
likely liquidity concerns over coinbase outage
Most probably just a healthy correction. It went from 3k to 13k in a relatively short time.
But if you want me too, I will drop by again when it drops 3K in a day...
OK, I am back.
We had the 3K drop. Now everything is in order. In the main time, nothing is ever learnt from 2 years ago, average tx fee is almost $6, and the mempool is 90K transaction behind. The currency of the future!!!
https://coinspice.io/news/btc-unconfirmed-transactions-soar-to-93000-fees-hit-1-year-high/
And this is how a real crypto should behave:
"“BCH could process 10x the number of transactions BTC does daily and the fees would still be less than a penny.”"
What store of value drops 80% in 6 months? That is one leaky value store.
And Amazon shares are not currency. Point still stands, an appreciating currency stops functioning as an exchange of value because people start to hoard it.
touche' but you're only looking at exactly buying the top, what about the bottom when it goes 400% up? DCA is the answer to have a relatively midrange cost-basis.
I was using SOV and investment asset interchangeably as bitcoin is still a highly volatile asset as it hasn't reached fair valuation until it has gained more acceptance as a SOV, but that won't happen until it reaches a Trillion $ valuation or about $50K per coin, so now's the time to get in and hodl
At $50K, though, it may still go much higher so $100K within a couple of years.I have nothing against BCH, I would use it for spending (low fees), but if you're investing in it and it's supposed to be stable as a stablecoin, then there's no upside (or limited upside). I'd prefer the high-risk/high-reward investment choice.
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Throughout bitcoins 10 1/2 years history, you would only lose money if you bought within that 2 months period between dec 2017 and jan 2018. The rest of the other period is profits, massive profits even. Out of 126 months, only 2 months were unprofitable.
The most someone lose if that bought at the peak of 20k is about -45%. The most someone profited was when btc was 0.06 in 2009 for 19,652,000% returns.
Let that thought sink in. You are really nitpicking if you say this isn't a store of value.