Never act shortly before or on a weekend.
Stay calm, wait (and look for a safer investment in these uncertain times).
Stay calm, wait (and look for a safer investment in these uncertain times).
Bitcoin below 31K - how far will this go?
- Thread starter maxmoney
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A Friday price close is important, although not nearly as much as a monthly close. If the price had closed above $30k, then a $30k support level would be more likely. But because it closed below $30k on a Friday, which is a big round number, a $30k resistance level is now more likely -- although certainly not guaranteed.
Yes, especially right now with ultra tight liquidity. TA is even more voodoo than under more normal circumstances.
Ones hope is the others bad - wish you both good luck.
Maybe this is a good read for you:
https://time.com/nextadvisor/investing/cryptocurrency/bitcoin-price-predictions/
Maybe this is a good read for you:
https://time.com/nextadvisor/investing/cryptocurrency/bitcoin-price-predictions/
Experts? One of those so-called experts predicted $307,000 by October 2021 (time now passed).
On the other hand, what does one of the greatest all-time investors in the world say about crypto?
When Buffett was asked about cryptocurrency at Berkshire Hathaway’s shareholder meeting Saturday, his answer was sure to be interesting. And the 91-year-old investor, whose personal net worth runs around $124 billion, delivered.
“Whether it goes up or down in the next year, or 5 or 10 years, I don’t know. But the one thing I’m pretty sure of is that it︀ doesn’t multiply, it doesn’t produce anything,” he said. “It’s got a magic to it, and︁ people have attached magic to lots of things.”
Buffett further illustrated that if he was︂ offered a 1% stake in all the farmland or apartments in the United States for︃ $25 billion, he’d write the check immediately. His logic? These assets both produce gains –︄ rent from the apartments and food from the farms.
But Buffett said he wouldn’t do︅ the same for Bitcoin, despite its current valuation of $38,000 per coin. He described his︆ views as “the difference between productive assets and something that depends on the next guy︇ paying you more than the last guy got.”
https://www.forbes.com/sites/qai/20...ytpo-doesnt-produce-anything/?sh=7c359c8f7ee6
Just to be clear, Buffet is︈ not opposed to technology that can actually turn a profit and produce income. In June︉ 2021, Berkshire Hathaway invested $500 million in “Bitcoin-friendly bank” Nubank in a Series G IPO︊ funding round.
On the other hand, what does one of the greatest all-time investors in the world say about crypto?
When Buffett was asked about cryptocurrency at Berkshire Hathaway’s shareholder meeting Saturday, his answer was sure to be interesting. And the 91-year-old investor, whose personal net worth runs around $124 billion, delivered.
“Whether it goes up or down in the next year, or 5 or 10 years, I don’t know. But the one thing I’m pretty sure of is that it︀ doesn’t multiply, it doesn’t produce anything,” he said. “It’s got a magic to it, and︁ people have attached magic to lots of things.”
Buffett further illustrated that if he was︂ offered a 1% stake in all the farmland or apartments in the United States for︃ $25 billion, he’d write the check immediately. His logic? These assets both produce gains –︄ rent from the apartments and food from the farms.
But Buffett said he wouldn’t do︅ the same for Bitcoin, despite its current valuation of $38,000 per coin. He described his︆ views as “the difference between productive assets and something that depends on the next guy︇ paying you more than the last guy got.”
https://www.forbes.com/sites/qai/20...ytpo-doesnt-produce-anything/?sh=7c359c8f7ee6
Just to be clear, Buffet is︈ not opposed to technology that can actually turn a profit and produce income. In June︉ 2021, Berkshire Hathaway invested $500 million in “Bitcoin-friendly bank” Nubank in a Series G IPO︊ funding round.
He is widely acknowledged as one of the greatest investors who ever lived. So, you are objectively wrong.
The fact that he missed a +500,000% market, means that he is not a great speculator. But he has never claimed to be a speculator. And most pure speculators eventually go bust.
Actually, the manifestation that you described is far more likely to result from a︂ pool of speculators than to a pool of investors. Most pure speculators eventually go bust︃ while a few will stumble into fabulous wealth.
I highlight the word "pure" because most︄ investors engage in some level of speculation, typically with less than ten percent of their︅ investable funds.
The fact that he missed a +500,000% market, means that he is not a great speculator. But he has never claimed to be a speculator. And most pure speculators eventually go bust.
Actually, the manifestation that you described is far more likely to result from a︂ pool of speculators than to a pool of investors. Most pure speculators eventually go bust︃ while a few will stumble into fabulous wealth.
I highlight the word "pure" because most︄ investors engage in some level of speculation, typically with less than ten percent of their︅ investable funds.
When you successfully learn how to make money, there is no need to worry about stumbling into the "opportunity of a lifetime." Those are the same types of sad, hopeless people who buy lottery tickets.
Even though I rarely agree with your opinions, this time I have to agree.
Crypto is a hype, it is the modern dot.com-bubble.
Of course, the technological advances it has brought to finance are obvious and are here to stay. Perhaps BTC will survive with some enthusiasts. But the rest of the market will be eaten up by banks & governments. Something like "︀The Revolution devours its children".
And that comes from someone who rode this crazy︁ crypto bull-hype but then jumped ship because of having seen what happens to markets that︂ go parabolic (Asian Tiger crisis, dot.com-bubble, housing crisis .... - at the end it's all︃ the same).
Note: Equities pay a dividend - well, at least ten good ones do.︄ What does crypto pay (not talking about these unsustainable Crypto Lending companies)?
Crypto is a hype, it is the modern dot.com-bubble.
Of course, the technological advances it has brought to finance are obvious and are here to stay. Perhaps BTC will survive with some enthusiasts. But the rest of the market will be eaten up by banks & governments. Something like "︀The Revolution devours its children".
And that comes from someone who rode this crazy︁ crypto bull-hype but then jumped ship because of having seen what happens to markets that︂ go parabolic (Asian Tiger crisis, dot.com-bubble, housing crisis .... - at the end it's all︃ the same).
Note: Equities pay a dividend - well, at least ten good ones do.︄ What does crypto pay (not talking about these unsustainable Crypto Lending companies)?
His main point is indisputable: "the difference between productive assets and something that depends on the next guy paying you more than the last guy got." Of course, you could make the same argument about gold, but gold has had intrinsic value for all of human history.
Some believe in Jesus and some believe in White Cows , Santa and even Elephants.
@Golden Fleece I believe your biggest fan in the financial world is Warren Buffet thu&¤#
@Golden Fleece I believe your biggest fan in the financial world is Warren Buffet thu&¤#
Not at all. I disagree with most of Warren Buffet's comments about issues outside of the financial world. In fact, in the past he has partnered with the evil Bill Gates.
But he is a proven financial genius, producing an average of 20% annual gains since 1965 -- a period of more than 55 years! That does not happen by dumb luck or sheer coincidence.
It is the crypto people who︀ have created a religious cult housed in a temple built on a foundation of sand.︁ Who knows what will happen when the slightest tremor occurs?
But he is a proven financial genius, producing an average of 20% annual gains since 1965 -- a period of more than 55 years! That does not happen by dumb luck or sheer coincidence.
It is the crypto people who︀ have created a religious cult housed in a temple built on a foundation of sand.︁ Who knows what will happen when the slightest tremor occurs?
As much as I︈ respect Warren, but this just shows he doesn't understand crypto and or DLT and Blockchain︉ technology at all lol
He absolutely understands crypto and anything caught in a speculative bubble,his quote "markets behave like a voting machine in the short term and a weighing machine in the long term is correct".I have seen enough of his plays in which he exits at the top.He doesnt say it explicitly but he is also a speculator no matter how much he says that he is investing and not speculating.In all his plays he is trying to keep odds︀ in his favour ( his businesses having a moat theory) and then punting or wagering︁ on them( One must remember he is a good poker player so he certainly knows︂ how to keep odds in his favour).He once had a huge silver position which again︃ does not produce anything. It is possible that a fundamentally sound asset can also be︄ caught up in a speculative bubble.Crypto is digital Gold period.And buffet is investing in crypto︅ banks as much as i have heard,actions speak louder than words.He doesn't have to advertise︆ his play - the hallmark of an intelligent speculator .Obviously he didnt understand crypto in︇ its infancy neither did he understand Microsoft or Amazon in its infancy.You cant be right︈ all the time.But as long as you are right even 50% of the time and︉ cut your losses you will make billions.
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