We always knew bitcoins are volatile and HODLing is simply the best option right now.
There’s more down to come. I would say 10k is in sight and maybe even 5k.
If it drops that low, I might consider buying some, but a lot of people will hold for now and sell when it goes lower losing more money.
The end game for bitcoin is zero. I can’t see how it will do anything else in the long term, but in the shorter term there will still be chances to make money.
That has been the end game for every currency in history, the US dollar and Euro will some day be worth nothing. But for now Bitcoin remains my lottery ticket
I’ll buy if it hits zero. Then it’ll find a way to go negative, lol.
But seriously, now would be a good time to resume or start the buy weekly strategy.
The definition of an investment is a trade gone wrong.
HODLing is most definitely NOT the way to participate in the most volatile asset class ever. That is if you want to sleep well at night.
Well, yes, but they will be replaced by something that will be equivalent. I think Bitcoin and block chain based currencies will be gone relatively soon (decades) and replaced by something that could actually work as a method of payment on a mass scale.
It is a good time to buy Bitcoins, (or in fact, any profitable coin now) as the whole of the crypto market is in a bearish stage. In fact, reports and studies show that many bitcoin holders are also buying new coins at the present market stage. I myself plan on buying one.
Buy at fire sale prices,
Have you been buying?
Just holding, but for someone just getting in this is a great time to buy
Bitcoin is breaking out today, lets see if it holds above 23K
Yeah wondering if it will be faded.
Long time no see. I have been busy. I have actually got a real job again after a long time recovering health. My cancer scare is a distant memory, I had my implants done 2 days ago, and am back to being able to work a healthy 12 hours per day or more. I feel GREAT!
Last night I was not tired after a 12 hour work day, so I thought I would take a look at my dormant NFTs in my favourite game DeFi Kingdoms that tanked 99%.
So my “jewels” are still earning 134% API in the gardens, and I collected some of that income in Jewels, now fully aware that “impermanent loss” is a bit of a tongue-in-cheek misnomer. I picked up a couple of very low priced apartments in Tranquility City - two at asking price down 94% from their peak, and put an offer on one at -98% of its peak price.
Then I went to put my dormant heroes to work on quests - just to see if I can remember how to do that, and put 3 of them up for sale in the Tavern at about 50% higher than the price I bought them for back in June. It seems like forever that I put this game in dormancy, but it is only 5 weeks.
The overall portfolio is now +15% from its starting position back 2 years ago. Only another 373% to go to reach its previous peak. LOL. The world is wonderful.
Oh - and now we have another property back on the market - with an expected capital appreciation of 25% over 15 years. That is about 4 times less than we had planned, but hey ho - beggars can’t be choosers.
Tempted to increase our silver holdings too - Ratio to gold is heading back to 3 figures again, and that opportunity should not be missed
Glad to hear you’re feeling better.
What do you mean by gold to silver ratio? My indicator shows they’re pretty flat across the week, but my calculation is probaby different…
I don’t think bitcoin will go anywhere so I treat it like my index funds - dollar cost average whether it’s up or down.
Looking at Bitcoin on the weekly chart shows strong support at the 200-week moving average, we have also seen prices this week hold that 23K level, for the long-term buy and hold investor this looks like a good time to employ the Buy Weekly Strategy
Sorry - I forgot most traders are short term. Our gold / silver strategy is very long term - like 30 years +. I look at 5 year trends on the subject of how much gold and how much silver to hold. At a GSR of 50, we should, in theory be 50% silver, 50% gold, at GSR = 30, 100% gold and at GSR = 90, 100% silver. I was temporarily overexcited about crypto when silver nearly hit 120:1 of gold (really cheap silver) and didn’t participate in that opportunity - but it is now headed back that way.
Ah who among us has not seen beautiful moves like this
Love that you’re still staying positive! And also glad the cancer scare is now out the window and that you’re back to working ridiculous long hours
There seems to be a correlation between Bitcoin and the US stock market,
I expect stocks to hit new lows in August and September so we could still see lower prices in Bitcoin
we have a stepping pattern with a bias to the upside, long-term trend is still down and no technical signal that a bottom has been put in. A break down from this channel and hold at June’s low for a double bottom would be a good technical indication of a bottom