The guy is in profit, man. "Ok, just bought .1841 BTC @ $54,801." https://www.elitetrader.com/et/threads/barons-crypto-trading-journal.361987/page-3#post-5469134 This is why he has a website and we do not. He's smart. I could post a stupid video about the Pakleds from ST:TNG, but there is no need. No matter Baron's average price, he is in profit. He makes the forum go.
He is smart but not the way you argued. He is smart because he is selling shovels to the gold diggers instead of digging for gold. His crypto adventures is one of his first public attempt at gold digging.
Since you guys like the gold digger analogy, let's play... Sure but he didn't find a major load (aka buying it under 20K, his average was pretty high) and he is still in Alaska (aka has not taken profits) and has to bring it back to civilization to have max. value. Gold in the wilderness is worth way less than in San Francisco at the market. And the journey to bring it back is dangerous (aka when do I cash out before a crash happen) and the gold can be lost (aka selling under purchase price). https://en.wikipedia.org/wiki/Klondike_Gold_Rush#/media/File:ChilkootPass_steps.jpg
Would you then agree when Bitcoin is trading at $500,000 that all those things you mentioned above will no longer be a concern?
Nothing you say makes sense... 1. The journey starts when you buy, not when you should have bought. 2. Taking profit is based on future expectation. Why take profits when you're in the rocket's full thrust? 3. This applies to anything you trade, cryptos included. If you can't handle it, don't do it. Good story though..
Yea..his Gold analogy is very rocky on many levels. Non the least on that fact that Central Banks around the world are buying the hell out of Gold rn...for reasons we all know. And given these reasons, it would be soooo much easier to bring the bitcoin back from alaska and deposit it into a central reserve account than it would to bring Gold. And isn't that what we are really talking about here. Finding a way to rid ourselves the transport, storage and maintance carry costs of holding Gold. For a central bank, thats gotta be a very key achievement. Blockchain has blazed an amazing new, paved trail from alaska to san Francisco. Its a Brave New World
I think Copilot is trying to tell us in a round-about way, that BRICS wins: Copilot In recent years, central banks around the world have been actively adding gold to their reserves. Here are some notable trends: China: The People’s Bank of China (PBoC) has consistently increased its gold holdings over the past several years. In 2022, China reported a total rise of 225 tons in its gold reserves, making it the largest single gold buyer. Turkey: The Central Bank of Turkey has been a significant buyer, increasing its official gold holdings by 12 tons in January 2024. India: The Reserve Bank of India also added nearly 9 tons of gold to its reserves. Russia: Although not always publicly reported, Russia has been steadily accumulating gold. It is one of the countries that has actively diversified away from traditional assets like U.S. Treasuries and the dollar by investing in gold3.
I've been thinking lately about the volatility of bitcoin. We all know it's too damn volatile compared to other assets. Does it have to be this volatile? What is the reason behind it? Well, the volatility of other assets are directly tied to corporate or economic underpinnings. Individual stocks, for example, are tied to corporated earning. Bonds are tied to interest rates. Forex are tied to macroeconomic factors like NFP and CPI. But for Bitcoin, it has none of that. So only thing that actually creates the volatility is sheer demand and supply. In another word, greed and fear. So my question is, what would be that one thing that could topple Bitcoin? This is not a trick question. I'm really truly curious.