My friend is investing on BTC, Idk..
- Thread starter derbeurze
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Just buy and hold. Averages 250% a year. Use it as a deposit account for cash you do not need in the short term.What do you think about trading BTC? For me it's a bit overrated, but you are the experts!
My friend told of how he "made money on BTC".
Bought for $.28, sold it for $1.00. (That's more that I did.)
Bought for $.28, sold it for $1.00. (That's more that I did.)
What do you think about trading BTC? For me it's a bit overrated, but you are the experts!
Overrated, its more than Overrated, it's a magical unicorn coin ....meaning no intrinsic value what so ever but let the big bitcoin bulls make their money, eventually the music will stop like it always does and this magical coin tens of thousands. This is just the big whales pushing up the price. They control the prices.
Not even a few months. It lost 60-70% in under one month last March. Same story in Dec 2018 and of course far worse in the last major bubble of 2017. We are in a highly speculative environment. Many stocks gained more than Bitcoin last year and ETH did too. No one knows how high it can go before the bubble pops. At the height of the tulip bubble, some tulips were trading for as much as houses. And that was without negative interest rates. If you buy it though, do so in an IRA or 401k as the taxes on it in the US are high.
Trading is basically buying/selling a number so if one is a successful trader on Bonds they can trade ES or even Beans.
BTC can be a problem to trade because of the potential slippage. Therefore I think it's better not to trade BTC and instead trade something else and then if you like Bitcoin, and you should, use some of your profits to buy and hold it.
BTC can be a problem to trade because of the potential slippage. Therefore I think it's better not to trade BTC and instead trade something else and then if you like Bitcoin, and you should, use some of your profits to buy and hold it.
It's the whales! It's always the whales...
BTC goes up - it's the whales!
BTC goes down - it's the whales!
BTC does nothing - It's the whales, they've dived very deep and are chilling out!
Very lazy analysis, if you can actually call it analysis that is.
FYI, it's not the whales pushing prices up, it's many new buyers who realised at least a few months back that Bitcoin was slowly being cornered. If you had been paying attention and not worrying about the whales and sprouting about unicorns, you might have realised that as well and jumped on board.
Other people, funds and corps, are buying because they believe BTC is going to play a major role in the new digital revolution, BTC having proved itself after 10 years. I admit though, it's not out of the woods just yet, but if it holds 2021 then it will be.
Yet more buyers are buying because they view it as a savings technology.
There are more reasons for the buying over the last few months, and none of them involve the whales...