Good grief man.
Bitcoin Price Thread
- Thread starter Magna
- Start date
Good grief man.
Nope, I just know its history. The 2017 was the 4th collapse of its price (not counting several 30-40% drops), from memory there was a $32 to $5, a $10 to $2 and the Gox $1200 to $150.
If you don't mind your store of value REGULARLY loses 70-80% its value, hey, I am happy for you.
Also, you couldn't have said the same a few months ago when price was below 4K, so who is the one nitpicking?
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I agree, that works until it doesn't. There are 2 problems with DCAing a ponzi:
1. Although you are protected from a huge loss, because the prices are spread out over time, but that also means your upside is much smaller than buying low and holding. Maybe buying the dips (when price dropped at least 30%) works better. So DCAing (actually doubling down) while the price falls, and holding when it goes up.
2. The idea of DCA believes that price never goes down and stays down in the long run but always recovers, specially to new ATHs. But that is not a given or guaranteed. What if I start DCA and the price start to fall and stays down forever? If you ever DCAd any going bankrupt company, you know what I mean.
Let's stop and examine this. Why would you put 1 cent in an investment that you believe is a ponzi, let alone use a DCA to build a long-term position?
I never believed bitcoin was a ponzi or a scam, if I did, I would have sold all my (cryptos) investments a long time ago.
When btc was 4k, I said to buy even more. You would have made money if you followed my advice. I remembered then I even proposed a bet to you that it will reach 20k before 1k when all the naysayers was saying it will drop to 1k or even lesser (But I knew it won't).
Something that moves very fast price upwards will correct way more downwards then something that doesn't move as fast. It really depends on what you want in the end, absolute returns or something else that gains a few % per year but isn't volatile.
The volatility part would be solved once bitcoin gets really big in marketcap like a trillion or more. By then it will be more stable and there won't be such drops.
I was most fortunate to sell the bitcoin futures I bought at 3700 at near 14,000 lat week
Wondering when you'd think would be a good time to get back in. Looking for maybe 5000 as reentry
Wondering when you'd think would be a good time to get back in. Looking for maybe 5000 as reentry
Wed at 14k, today on Monday at 10k. What a wonderful stable market.
Of course, you're back! lol Who promised you that bitcoin is going to stay stagnant in price? How else would it achieve several hundred percent % returns if it was stable
By the way, $10,000+ is an excellent price from my pov, $1,000 or lower is not. It was at this price 1 week ago, so yea, good times