Has Crypto hit the bottom?
Is crypto going to see another free fall? Or is the end & it’s going to be dead? Good time to buy some bitcoin? I know HODL group would say go for it & buy as much as you can. But what’s the general consensus?
No. Ask again when the price is zero
Bitcoins been called dead about 30 times before. Each time it comes back stronger than ever. I think we're almost at the bottom given all the impressive institutional platforms launching early next year. Now may be the last chance to ever get a bitcoin for less than $10k - use the discounted price to your advantage
I’ve been purchasing bitcoin little by little(5% of my income goes to bitcoin). I don’t think it’s hit rock bottom, but it’s definitely not dead. I don’t look at the price too much, I just treat it like another asset
There’s no bottom in crypto, it’s value is not pegged to profits like stocks or $ like real currencies.
Technically correct, however the value of $ can still be derived from dollars in circulation, gdp growth, exchange value to euro and other currencies...
Value of the dollar is in its utility - most popular and globally enforced (us military) medium of international trade. It also acts as main currency reserve due to deep and most liquid debt market for us treasuries plus dollars are needed to purchase oil. All of this drives demand for dollar globally. The utility of crypto’s are mostly driven by flight of capital (China, Russia) and shadow markets such as drugs. There will always be need for this type of utility, but the volume is limited compared to international trade. The only reason crypto’s have exploded in price last year was due to speculative demand that fed on itself until this ponzi bubble was exhausted and started reversing
Whe it hits 0 that’s the bottom. It’ll happen sooner or later for crypto
Yes. Now is the time to buy. 2019 it’s gonna hit 50k
Buy buy buy. Buy when everyone is saying don’t. People’s opinion on a new asset class will only change when their bank/money manger starts offering it as part of their portfolio. This is already happening with ICE & Fidelity entering the space. But by the time everyone says buy, it’ll be too late and you’d have missed the boat.
Definitely has a hot bottom.