That would be 1 sanario but the other more likely sanario would be buyers flooding the market that the fed wouldnt be able to keep up with buyers
Rats leaving the sinking ship?
- Thread starter guest_trader_1
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That would be 1 sanario but the other more likely sanario would be buyers flooding the market that the fed wouldnt be able to keep up with buyers
I would actually love for the FED to have some. Think about how convenient it would be when some sort of peg to bitcoin is announced and the FED magically already has a stash. Then if other central banks don't have any, once again, the US is on top in terms of reserve currency status, since they would have a truckload.
Yes, price can drop when a big player starts selling. It probably only takes a few thousand coins to drop price thousands of dollars, but if you believe in the future of bitcoin, then it would be a foolish thing to do as now you've gotten rid of your asset to manipulate the price, and when it slowly climbs back up again, the regret of selling will be strong. I guess if bitcoin is going to 20k, it makes sense to sell some now and buy back in, but if everyone is just hoping to buy lower, the mother of all rallies will happen.
It is risk off, risk on meaning when volatility index is high like now, that is risk off for many people, IMHO bitcoin is riskier than FANG stocks, MSFT, AAPL, AMZN, etc going to zero is not plausible, while I cannot say the same of something that produces no cash flow, no dividends and backed by only what others are willing to pay at the moment.
Yes, but you need to change your name to Billionaire if you wish to take this attitude. Now being a millionaire is not that comfy as to say, 10-20 millions? Just look at prices of Real Estate.
Nasdaq tech-wreck continues, surprisingly BTC/ETH is far less volatile, which is quite a new change. However, much of the paper-hands have already left the ship, hence the blue-chip cryptos have only slowly sold off as holders either try to sell enough to meet margin calls on tech-stocks, or snatch up some of the equity fire-sales.
I am hoping that US equities continue to crash to smithereens next week, hence ETH will sell off some more, and then we can load-up the truck again.
Last time I got too greedy waiting for ETH to hit 2200-2400 range again, but instead it shot right back up to 3K after only getting close. Doh!!!!
Trying to time markets is not so easy. With my luck equities will be in a bull-market again next week and there goes the current-opportunity.
I am poor
When i created this ET profile in 2009, I had 1 million USD cash in my IB accounts mostly from trading profits during the crash of 2008. Easiest trading markets ever.I paid 20% in tax, spent 40%, and lost 20% back by 2013. Left with just 20%. No more millionaire status
. If i include my house i am still a millionaire, but it is not the $1 million liquid cash in the bank status that i once had.