I do feel crypto has established itself as a legitimate asset class. To me, the main issue I see is the lack of liquidity in the near term. Someone with real wealth or institutions, can’t just dump $50M Bitcoin without creating a massive drop and ridiculous volatility. Hard commodities, t-bills, equities can all absorb that with ease. It makes asset rotation/allocation difficult owning Crypto. Once it has more liquidity, I becomes more interesting. So, I do see it coming down significantly, but then going up way way more than now in the future. That’s all assuming that we aren’t living underground and in dystopia. Plus some other grand assumptions that we all take for granted, which really aren’t for granted.
Bitcoin is not a short term investment. People who lose money in bitcoin are trying to get rich quick No one who invested in bitcoin and held for 3 years or longer have lost money. No one
Sure it is. A year ago it was around 10K, 400% return is excellent in a year. Greedy pigs get slaughtered....
Did you buy it a year ago at around $10K and sold at 400% profits? Can you please show the posts here on ET showing a bunch of smarter-than-pigs ET members that bought at around $10K and sold for 400%? Hindsight is 2020 (hah!)
It is called history. Price collapsed 4-5 times in 12 years, so on average every 3 years one can expect a price collapse. Now if you call 3 years long term, then you are right, it is a long term gambling.
Hard to pin you down... I said bitcoin is not a get-rich-quick and no one who invested for longer than 3 years have lost money Then you reply yea it is a quick investment, look you could have made 400% if you did this in 1 year which is a lot and it's being a greedy pig to want more... Now here you are, laying out my case perfectly using historical data and boom and bust cycles thus far of bitcoin which if you followed, buy at the low, sell & short at the top, buy at the low, sell & short at the top, rinse/repeat you'd be a millionaire many times over, possibly even a billionaire Thanks for telling everyone how to invest in bitcoin, hodl for 3 years or longer, due to its long term uptrend and accumulate on every dip which is part of its 4 year cycles (halvenings and the effects to s2f)