Bitcoin Ablaze

A price correction is expected soon IMO.

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Apocalypse! Bitcoin is on the way to $146 K per a JPMorgan analyst :slight_smile:

One the main reasons why bitcoin is on the rise because governments all over the world are printing money to cover the costs due to the pandemic.

image !

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Elon Musk on last Sunday said bitcoin was on the verge of getting broad acceptance from the traditional finance world.

Today, btc/usd has gone up more than 6%.

Where are those folks who claimed Bitcoin was nothing more than “tulip” economics?
Elon Musk, Paypal, Square, big banks are now all behind it.

The mob will come for him if it crashes tomorrow.

Nice! Today (3/13/2021), bitcoin tops $60K amid more institutional investment…

Nearly 100% rise in just a little more than 2 months, even Naim price hike does not rise that fast. :slight_smile:

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It seems that 99% for the Naimees missing the bitcoin ride! There was a good chance at the end of last year for someone who wants to get the Naim 500 or Statement.

Still here.

Why did the price of Bitcoin increase? Apart from more people wanting it because it increased in the past.

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Like any asset class, you need to be able to value it. I’m curious to know how you value it since you’re obviously are an enthusiast/holder/miner.

I know that some well-known investors are skeptical and warn that bitcoin is highly speculative and overvalued or does not have any value. But for me, I just invest in bitcoin just like any other investment, buy low & sell high, as simple as that, I do not look for any justification.

I understand the theory that bitcoin has the potential to disrupt but I believe there are risks too that the bitcoin bulls are ignoring. The Chinese already haven their own digital currency being tested, the European Central Bank have stated recently that they could have a digital currency within the next four years to name just two examples. You can be sure that the Bank of England and the Federal Reserve won’t be far behind. Any of these could challenge bitcoin as ‘the future of money’.

To me that isn’t just like any other investment.

If one invests in companies there is a lot of data that you can study to determine if you think it’s a good investment (p/e ratios, EBITDA, dividends etc). To my mind, saying buy bitcoin when its low and sell it when it’s high isn’t investing - how do you know when it’s low and when it’s high??

At the moment, people are buying bitcoin purely on the basis that someone else will buy it at a higher price further down the line - surely that is exactly the same as ‘Tulip economics’ or any other bubble. Sure, you can make a lot of money along the way - just make sure that you’re not holding bitcoins when the bubble finally bursts.

Yes, that exactly what I do (just like any other investment). The trick is to know when to start and stop, and how much P&L one can make by the end of it, do not let greed take over you.

That is the hard part with bitcoin with having little investment data to go through

Easier said than done :grinning:

I know, been there and all that :frowning:
I bought my NAP 500 from the very first batch (in 2001 I think) from my P&L.

A pretty turbulent day for Bitcoin today, and for most cryptos. It’ll be interesting to see where things settle out now that the latest bubble seems to have burst.

Sixth sense! I liquidated all of my bitcoin holdings last Thu, will come back to it when it starts to rise (again).

Good timing! I’m just curious as to whether the boom and bust cycle of the last few years will continue, or if things will start to change, with big business and various governments increasingly getting involved one way or the other.

If you want to invest in the short term, cryptocurrencies are too dangerous, the market is still in its infancy and therefore very volatile and with few regulations. The US government will no doubt get involved in this market.

However, most cryptocurrencies have a finite number of coins and no more can be created, so this avoids inflation, they can only increase over the years, there are some well-known investors strongly advocate cryptocurrencies for long-term investment.