4th Cycle........... very nice.If the trend continues, the lower bound is 36k and 50k in 2025.
This is my 4th cycle, it continues to amaze me how easy this has been for those with conviction.
I think there's a good chance the ETFs have probably fundamentally changed the market though, re-balancing from them may reduce volatility in future. But first the intitial buying is happening.
Brendan if you think bitcoin is going to 0, you are delusionalEven some professionals have taken leave of their senses.
The FT Lex column estimated that the cost of mining one bitcoin is now $43,000 so, they say, that should set a floor for the price of bitcoin!
I know I sound like a broken record, but the price will eventually match the value i.e. zero. It is astonishing that it keeps recovering and that it is fooling so many people for so long. The cost of producing something worthless does not give it value.
Brendan
3% would be massive, but the interesting question is what is the allocation likely to be, and what effect will it have.I see your point now. Obviously if it became de rigueur for every or a majority of institutional fund managers to have say 3% crypto in their portfolio - that would be a bit of a game changer. But you are not claiming that.
Coindesk said:ARK Invest CEO Cathie Wood said on CNBC Thursday that bitcoin (BTC), the world's largest cryptocurrency by market value, could reach $1,500,000 in price by 2030 in a bullish scenario, raising her estimate by 50% from a previous prediction of $1 million.
Bitcoin has achieved another ATH, biggest fall in one day.
I was hoping you wouldn't spot that Boss. Still, over 10% fall is pretty impressive if not an ATH. Why are you begrudging bitcoin its day in history?But the higher it gets the bigger the potential falls in absolute terms.
What % did it lose and how does this compare with previous falls?
Brendan
You can make a tangy grape jam with sour grapes, Duke. Or how about this? 108 sour grapes recipes?I was hoping you wouldn't spot that Boss. Still, over 10% fall is pretty impressive if not an ATH. Why are you begrudging bitcoin its day in history?
To be fair, you haven't been rubbing in the sour grapes, unlike some others.You can make a tangy grape jam with sour grapes, Duke. Or how about this? 108 sour grapes recipes?
Pullbacks of up to 30% have been common in these bull market cycles in the past. They're no harm at all as they clear out those that are trading using leverage.
No, I don't think that's the way. At the end of the day, the idea of thrashing all of this stuff through is so that we all can try and figure it out.To be fair, you haven't been rubbing in the sour grapes, unlike some others.
"crypto" ≠ BitcoinI still believe that cryptos are the first real attempt of a Worldwide Ponzi Scheme (never really tried before on such scale) and because we're 8.1 Billion and counting:
...Then there are still new customers to be found for a while...World Population Clock: 8.1 Billion People (LIVE, 2024) - Worldometer
How many people are there in the world? World population has reached 8 billion on November 15, 2022 according to the United Nations. World population live counter with data sheets, graphs, maps, and census data regarding the current, historical, and future world population figures, estimates...www.worldometers.info
I prefer ethical investing...
its all just a speculation. That's not the case.
It’s certainly not a certainty…Hi tecate
What else is it?
Brendan
I'll direct you to 2,149 previous posts on the subject Brendan. I appreciate you have formed the opposite opinion but you can't dispute that Bitcoin continues to develop and find an ever broader audience.Hi tecate
What else is it?
Brendan
Thank you so much @tecate for reminding me of the great song "Only Time Will Tell" of Mike Oldfield!"crypto" ≠ Bitcoin
And in the case of Bitcoin finding new customers, there's no doubt that such a thing is happening. The error you're making though is to reach the conclusion that its all just a speculation. That's not the case.
For someone who complained over the last six years of long repetitive threads, your request doesn't align very well. You've been here every step of the way in those discussions. The arguments remain the same, the disagreement/differing opinions remain the same. You could easily summarize them yourself if you want to. Here's a word from a distinguished expert on the subject: “If you don't believe me or don't get it, I don't have time to try to convince you, sorry.”Summarise them for me.
I have not seen any "use" for it other than use by criminals for payment.
But that must be a tiny percentage of it. It's 99% speculation, but please let me know if I am wrong.
Brendan
Nobody can tell me on AAM how long I have to wait to find out. I have much less hair now than I did when these discussions began (and hair in places I'd rather not have it). Can you give me a year? @letitroll swore blind on three occasions that his bets would beat Banagher. Bitcoin has shown no respect for those predictions.Thank you so much @tecate for reminding me of the great song "Only Time Will Tell" of Mike Oldfield!
We'll all draw our conclusions in due time that's for sure!
I'll stop you right there. That clown has zero to do with Bitcoin. His was a garden variety fraud a la Enron, Madoff, etc. ...aided by the 33% of Capitol Hill politicians that took money off him (and haven't given it back), the SEC, the CFTC, etc. And I'll bring you right back round to what I reminded you about earlier -> "crypto" ≠ Bitcoin...Sam Bankman-Fried already drew his conclusions in the meantime burning overnight 8B USD from common investors!
You've been here every step of the way in those discussions.
The error you're making though is to reach the conclusion that its all just a speculation. That's not the case.
No, you don't stop me ever. Because I state my opinions without any aim to offend ever. So here I am again.I'll stop you right there. That clown has zero to do with Bitcoin. His was a garden variety fraud a la Enron, Madoff, etc. ...aided by the 33% of Capitol Hill politicians that took money off him (and haven't given it back), the SEC, the CFTC, etc. And I'll bring you right back round to what I reminded you about earlier -> "crypto" ≠ Bitcoin
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