when oil was around $150 about 13-15 years ago. t Boone Pickens said we will never see oil under $100 in our life times, well we saw it hit -37 in 2020. Your statement speak of inexperience and or arrogance.
Is anyone waiting to invest in BTC (if/when the price is right)?
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when oil was around $150 about 13-15 years ago. t Boone Pickens said we will never see oil under $100 in our life times, well we saw it hit -37 in 2020. Your statement speak of inexperience and or arrogance.
Yep, same as yours since you don't know what's going to happen either
averaging down from 69k ?
Exactly why I never make predictions on any price levels. When someone says that we will never see a low price levels in our life times, this shows arrogance or inexperience.
No but we've heard you make plenty of predictions already.
I never said I am 100% sure that we will never see a certain level on bitcoin. I am simply saying that I THINK that we won't get to a level of $15K based on historical trading patterns and fundamentals. There is a huge bid out there based on how many hardcore bitcoin enthusiasts there are out there and the fact that it costs way more than $15K to mine one bitcoin.
Fundamentals you say! What fundamentals?
If miners quit doesn't that mean no transactions?
You are basing your risk assessment upon historical trading patterns for an asset with no fundamentals?
Fundamentals?
Which ones?
The p/e ratio of infinity or the p/b ratio of infinity? Or the earnings growth of zero?
The "mining" doesn't grant it any particular value any more than digging a hole and filling it in again increases my property value. You can't convert the Bitcoin back into the electricity it took to mine it. Just because it costs a certain amount to manufacture x, doesn't mean that I will have any customers at that price. If I spend 100 million to film a flop, then I just lose money. There's no economic participation trophy when my costs are automatically covered by the sale price.
As for a "huge bid" do you have actual data based on real market orders or are these bids that you think might materialize , but don't have evidence of?
Wouldn't "hardcore Bitcoin enthusiasts" already be "invested"? Where are they going to get even more money to "invest?"