Got nothing to do with it. Gold is something people think is precious because the bible said so. As you know, humans are driven by sex, religion and money, because humans believe religion, they believe the bible story about precious gold. Besides that, BTC imo is not something to hold, it's something to trade, same with how I regard gold. I own no gold but do own penny gold stocks for flipping.
BlackRock's iShares Bitcoin Trust (IBIT) recorded a total of $329 million worth of inflows on Oct. 21. As noted by Nate Geraci, co-founder of The ETF Institute, the massively successful product has now taken in $1.5 billion worth of Bitcoin just over the past six trading days. That $1.5 billion alone would make IBIT one of the most successful launches of this year so far. Of course, IBIT has managed to attract a total of $23 billion worth of inflows since January.
Everyone is FOMOing into memecoins. This worked for as long as there were new suckers coming in... But now the liquidity has completely dried up - we have run out of new suckers. This is the TIPPING POINT. The engine room of this titanic has already been flooded, but the panic has yet to ensue. There is still time to GET OUT! All you have to do at this point is SHORT this ponzi scheme with SIZE and wait until liquidations start rolling in. It's that simple! You literally won't be able to exit if they rug the market over the weekend and you wake up to a massive massive gap down.
dude we have all seen multiple 80% retraces multiple times. You ignored my previous question about why gold is so coveted. The reason is scarcity...the same reason bitcoin is coveted. EXCEPT with bitcoin you can actually store, buy, sell, and transfer it with ease. And if you want to use it at jewelry you can do that too!
What's happening with the monetary metals Gold, and now Silver, may be a portent. Bitcoin (aka digital Gold) could be next to make a big move.
Gold has value because people and even countries are buying it as a part of their reserves.... and it's also used in electronics, jewelery,... Bitcoin is just a scam. It has value because people want to get rich quick and because it's value is overinflated with fake Tether dollars. But like all ponzi schemes, it eventually collapses.
Oh, agreed. Which is why I'm still waiting for western government bonds to collapse. Already they've been downgraded from AAA, which we were often told was an impossible scenario.
**** not financial advice **** Gold and Silver are doing great, while bitcoin is just languishing... There's a lot of anxieties because of the election uncertainties I think it's going to be choppy with a slight bias to downward pressure Not financial advice, but it's best to stay out of any bitcoin leveraged trades until after the election, I'm planning to get out of my long btc perp futures position, roundtripped lots of profits away, but it's the way it goes Surprisingly, the memecoins are holding up and some are inching higher but they have and might crash hard if bitcoin goes down $10k leading to the election or shortly thereafter Goatseus Maximus crashed to 20sh cents 2 days ago, flushed out a lot of longs, ngl, I almost got shaken out, but now it's back up to ath
If you consider the stock market is determined, and not of free will; then essentially it can predict the future. In other words, the election doesn't affect the outcome of bitcoin, the outcome of bitcoin will determine what affect the election has on it.