So back on the topic, I just want to share this chart so there's a clearer perspective of what's going on. All the naysayers love to bash Bitcoin using a timeframe of the past year, but what about if we go back just a decade or so since inception? Currently, BTC is in the $20k range. What's fascinating is that the Dow Jones Industrial Average took about 125 years to reach $20k, but bitcoin achieved the same result in 1/10th of the time.
we trade differently. Baron is a Long term investor / trader. Gamble Margin is a swing trader. I am a day & night trader.
Now you are being silly. The graph shows that from less than a cent to 20 bucks is the same distance as from 20 bucks to 69k
It's a log chart, so the graph is skewed. I myself don't like log charts. @Baron, you get a spank on your bottom for that! (Don't tell your wife! Teeehee)
Yeah, it's a damn wild range. It is extremely difficult to trade if one is aiming for a systematic profit. I would not advise anyone to embark on this unless they are gambling just a small portion of their wealth for pure fun (just like a lottery ticket). Things that can be done, anyway: -use a negligible portion of your wealth, so you can be cool with the unavoidable DD -keep a definite side (whatever you choose), but also make countertrades on unfavourable moves (in a purely automated way and with fixed distances) to mitigate DD -keep hoping that, in the long term, the initial side choice yields the desired target result; or, as an alternative, where available, resort to options and take advantage of their drift for DD mitigation
Hang in there Baron... Dumping Euros and British Pounds in Record Numbers to Buy Bitcoin, What's It Mean?
Click here ... Investors ditch the euro and pound for Bitcoin in record numbers as their value plummets You have to decide whether the information is true, honest, or not sincere, fake, manipulative ...