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krugman25
Are we talking actually dead here, or "pullback to 20k before rallying to 200k" dead?
Bitcoin Price Thread
- Thread starter Magna
- Start date
If you haven't realized that BTC is just a high beta stock, you are on the wrong website.
Market drops 1.5%, BTC is down 4%. Not rocket science.
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krugman25
It must skew to the upside a lot more than the downside since it seems to move 3-to-1 to the downside and about 20-to-1 to the upside.
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krugman25
That was only true between Oct-January. Since February the movement pretty much the same both ways. Just put up the 2 charts next to each other.
Pekelo, why do you celebrate when bitcoin goes down even at the cost of other investment assets (risk assets) like the stock market going down? Cutting off the nose to spite the face
In the short term, bitcoin is correlated to other risk asset investments due to liquidity crunch, but in the long term, bitcoin may hold the value the strongest due to fundamentals and supply and demand dynamics as a flight to safety, the old gold narrative
Investments got hit with a Biden Tax proposal or something like that, bitcoin bull market not dead, btc is still over $50K, very strong support in the $46K-$48K by the Rick Astley buyers (Institutions accumulating)
@NoahA From another on-chain analyst, not Willy Woo. Personally, I wouldn't mind someone making the announcement we're in a bear market, I'm ready to cash out and have relief and not be anxious all the time
Daal put together a very nice list of indicators, i.e. sentiments and stuff and I'm also watching the news on plans development and adoption, i.e. recent Venmo news and Coinbase Pro adding USDT, wonder what will happen if Apple Pay or Google Pay decide to add bitcoin and cryptos... or if Walmart says they bought bitcoin for their Treasury
I'm not that smart, but in that chart from the link, it seems like the highest bars are where the support is. Me thinks the highest support is at 3k! LOL
But thanks for all the heads up. I'm uneasy about all of these guys talking like trading guys. I mean if its not a store of value, and we are just trading it, well, there goes the whole thesis. I doubt it will ever be a currency, and I even saw an interview with Jim Rogers the other day where he pointed out if its ever currency, it will be outlawed. So it has to remain an asset, a store of value, but if price is just being pushed around by traders, and crypto guys are using trading terms to describe the movement, then it drastically changes the game. As I said before, I just don't think there are enough true believers to maintain the price. Most are in it now for quick gains, but where the actual floor is, who knows.
Currency usage for bitcoin is not good unless using L2 solutions i.e. Visa, PayPal, Venmo, etc
What you're describing is short term holding and trading versus long term holding/SoV/inflation hedge
You can have both, or you can just do 1 or the other, or a combination
Some UHNW or Institutions are probably going to hodl for more than 5 years
I'm planning to do a combination
I plan to cash out everything and only hodl 10 btc's when the bull market is over