Even after such a crash, seems still a risky investment, need to be very cautious. I won’t be surprised if it crashes even further.
It hit 1000 in December 2013, crashed, and took three years to get back to 1000. I think a bunch of current crypto traders don't realize it can go negative for years. If it gets back to 15k I predict it won't be until 2023, and that it will go a lot lower first. It has no intrinsic value right now. To go up, somebody needs to start using it as a currency. Right now hardly anyone does.
Ya that’s a reasonable argument
🌷
Perhaps. There’s a cost associated with mining bitcoin much like gold. I’d say gold has an advantage because it is valued for jewelry and industrial applications, but I don’t know enough about the future of distributed ledger technology to say it doesn’t have some sort of intrinsic value outside of a store of value (which is 100% perception based much like your tulip analogy) The real test will happen during the next economic downturn. Investors buy “safe haven assets” like gold and treasures during time of distress. Then and only then will be know if crypto is legit or just the latest iteration of tulip mania.
Very different from tulips. https://medium.com/@themihaly/comparing-bitcoin-to-tulips-is-absurd-stop-it-9c8b489727fc
It’s a range bound traders game for now. Roughly $6500 - $9500. Opportunity to make money but way too much uncertainly IMO. Could go under $5000 just as easily as it could go above $12000. Better odds than Vegas.
And where is Block$$$ now? It's easy to comment/pump/predict when all coins are going up... He is another McAfee!
What would you have them do or say now? You want to be comforted? Chances are they have been holding crypto since the very beginning and is up substantially. It’s just the nature of these things, their portfolio is probably down a lot but I’m pretty sure they’re not hurting in the least bit.
I'm not a kid and don't need comforted. My point is it was easy to be vocal in that Nov-Jan time frame.. even the worst coin reached their ATH.. He will come back again when BTC back in the game... A very smart pumper..
This is a great time to invest in crypto.
EOS will do well after all the bugs are fixed
I read somewhere that over $1 billion in crypto has been stolen this year. Seems like a relatively large percentage of total crypto assets out there if true.
Here’s a question. Would regulation hep or hurt the value of crypto? It would lend it credibility just not sure what it would do to the value.
In the short term regulation would help. It would give credibility, and reduce pump-and-dump. In the long term regulation might hurt, depending on the regulation. Crypto is a threat to the petro dollar, so it's interesting to see how the US reacts.
Depends, there currently coins the are more fit for regulation (allow easy tracking etc) and others that are more anonymous.
Crypto did go way up right after tax time. It then went back down later. Different things. Like any global market there are a lot of components to this. Oh - and as to how I’m doing? Well, crypto is still up from where it started in 2017 by around 600%. Not shabby and vastly better than any other speculative investment I’ve had. So doing great!