It was supposed to be a hedge against inflation and an uncorrelated asset class. I was considering an investment near the highs, but considered the technicals weak at the highs and decided to bide my time in anticipation of a pullback. After this major sell-off I lost interest. I suppose it could be a good buying opportunity down here, but so can any other coin, memestock or what have you.
A big paradox with the entire crypto space is that it's been fueled by precisely free money and even helicopter money from the central banks which the crypto crowd is so scared of. Now that the central banks shut off the money supply - crypto is tanking. Oh, the irony. No schadenfreude on my end for those who lost money of course, so don't take it personally.
Schadenfreude has been rampant on the many threads that have been created the past few days, no-coiners are posting right and left enjoying this Bitcoin and crypto crash Yea, when someone says no schadenfreude after creating a new thread on the Bitcoin and crypto price downtrend, I just have to laugh out loud Bitcoin and cryptos bull market will come back, may take a while, may take a year or two, so for now, we just have to keep reading these wonderful threads and no-coiner posts
It's my first time commenting lately and I'm just sharing my thoughts on the subject. A friend of mine said it's the time to start loading up now, but I fail to see the value based on the argument I put forth. Facts: We currently have inflation and a sell-off in equities. Questions: 1. Did Bitcoin serve as a hedge against inflation? 2. Is Bitcoin acting as an uncorrelated asset class? If Bitcoin only had a moderate pullback and held up in this climate I would possibly still be interested in buying, but the way I see it Bitcoin failed to deliver on one of the most fundamental selling points that's been pitched over the last few years. It would be irrational for me to believe anything else when the truth is staring me right in the face.
just let us know how your port has done in the last 6 months i have a rule, dont lose money. do you have a rule ?
There's a reason I did not quote you because it's not that I do not believe you. I made a general post but with reference to your new thread The answer to your questions is Yes on both on a 3, 5 and 10 year timeline Zoom out and you will see There has not been a 3 year period that Bitcoin was lower in price, which means in the next 2.5 years, 1 BTC will be higher than $70K
So much for everyone touting how cool and futuristic Bitcoin/crypto would be...get in NOW to get RICH. Celebrity endorsement ads, as well. Buy the Dip...everyone says that for everything across social media, Buy The Dip. Those social media personalities needs to be Dipped in lava or sh8t. The wisdom of the dumb masses, the crowds. Everyone was/is so eager to get into crypto...brokers couldn't meet the demands. Dumb galore. First it was websites, then homes, now crypto.