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ND: Anyone Else Riding This Cryptocurrency Wave?

You guys realize that the "bubble" has not "burst", correct? Do you know how many times bitcoin has lost 70%+ of its value and recovered?

And do you realize that even after the "bubble burst" that it's still up over 1000% in the past year? That's at the current price.

It's not a traditional asset and honestly a 50% drop means very little. Other than a buying opportunity could be presenting itself.
You can get a lot of good advice on the vent. Bourbon, cigars, restaurants, even bbq smoking secrets. But I think it’s best to read investment threads as entertainment
 
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You can get a lot of good advice on the vent. Bourbon, cigars, restaurants, even bbq smoking secrets. But I think it’s best to read investment threads as entertainment

That's ironic coming from the guy making investment projections

I certainly wouldn't listen to your investment advice, but maybe if you don't think the vent is a good place for investment advice that you should not offer your own?
 
That's ironic coming from the guy making investment projections

I certainly wouldn't listen to your investment advice, but maybe if you don't think the vent is a good place for investment advice that you should not offer your own?
Not trying to pick a fight. I guess you think you really burned me, but as I said it’s “entertainment”. Only a fool would use a message board of strangers for sound financial advise. Regardless, bitcoin just had its worst 2 day performance in over 3 years. I’d be a tad anxious if I had a position in it considering the futures.
 
You guys realize that the "bubble" has not "burst", correct? Do you know how many times bitcoin has lost 70%+ of its value and recovered?

And do you realize that even after the "bubble burst" that it's still up over 1000% in the past year? That's at the current price.

It's not a traditional asset and honestly a 50% drop means very little. Other than a buying opportunity could be presenting itself.
If a 70% drop in an investment is not a bubble burst, then i’m going to have go with a butt plowing, but it’s just semantics I suppose. Most times there has been a bubble burst in other markets, equities or real estate or whatever, there has been a subsequent recovery, but it is still known as a bubble burst.

And looking at the price history, it looks to me like it’s never lost 70% of it’s value, unless it was back when it was so inexpensive such a loss would be hard to see on the chart.

Crashes are sneaky. Tough to know when they begin or when they end.
 
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And looking at the price history, it looks to me like it’s never lost 70% of it’s value, unless it was back when it was so inexpensive such a loss would be hard to see on the chart.

It's done it 5 times, certainly with a much lower price.

The price is not as significant as most people believe. Unlike traditional fiat currency, the number of bitcoins in circulation is capped. If there was some governing body that could automagically create more notes and inject them into the economy, they could easily drive the price down to triple digits, and it would therefore not be as "outlandish" and people wouldn't scoff at it as a bubble because it's so "expensive".

The fact that supply is capped is what makes price seem so ludicrous. If gold were capped by ounce to the same number of BTC in circulation, the price of gold would be over $2 million per ounce or $2 billion per bar - does that make it a bubble all of a sudden? I don't think so. Price is relative to supply, and at current prices, total bitcoin marketcap remains ~$200 billion.....which honestly, if you ask me, ain't that much. About 1% of our country's debt. There's a whole lot of money circulating in this world and BTC isn't even a flash in the pan - even at $20,000 BTC/USD
 
It's done it 5 times, certainly with a much lower price.

The price is not as significant as most people believe. Unlike traditional fiat currency, the number of bitcoins in circulation is capped. If there was some governing body that could automagically create more notes and inject them into the economy, they could easily drive the price down to triple digits, and it would therefore not be as "outlandish" and people wouldn't scoff at it as a bubble because it's so "expensive".

The fact that supply is capped is what makes price seem so ludicrous. If gold were capped by ounce to the same number of BTC in circulation, the price of gold would be over $2 million per ounce or $2 billion per bar - does that make it a bubble all of a sudden? I don't think so. Price is relative to supply, and at current prices, total bitcoin marketcap remains ~$200 billion.....which honestly, if you ask me, ain't that much. About 1% of our country's debt. There's a whole lot of money circulating in this world and BTC isn't even a flash in the pan - even at $20,000 BTC/USD
Good luck with it, sincerely. I hope you're young or have lived through crashes before. At the least, I hope you're really well-diversified. This kind of stuff can ruin you if not. Best of luck, hope it retires you!

The number of shares of Worldcom, "The CIA's Communication Network" were pretty capped as well.
 
It's done it 5 times, certainly with a much lower price.

The price is not as significant as most people believe. Unlike traditional fiat currency, the number of bitcoins in circulation is capped. If there was some governing body that could automagically create more notes and inject them into the economy, they could easily drive the price down to triple digits, and it would therefore not be as "outlandish" and people wouldn't scoff at it as a bubble because it's so "expensive".

The fact that supply is capped is what makes price seem so ludicrous. If gold were capped by ounce to the same number of BTC in circulation, the price of gold would be over $2 million per ounce or $2 billion per bar - does that make it a bubble all of a sudden? I don't think so. Price is relative to supply, and at current prices, total bitcoin marketcap remains ~$200 billion.....which honestly, if you ask me, ain't that much. About 1% of our country's debt. There's a whole lot of money circulating in this world and BTC isn't even a flash in the pan - even at $20,000 BTC/USD
And, by the way, price is relative to both supply AND demand. Econ 101.
 
I have a small % of my investments in Coinbase mixed with Bitcoin cash, Bitcoin, Etherum, and Litecoin. At one point I was up about 40%. Now I am only up about 10%. I have a certain amount I am going to wait for it to hit and then cash out my initial investment and play with house money. At this point, I may be holding on for quite a while. I am going to set a "break glass" loss point where if the value dips to a certain amount I'll bail out completely. As others have said, not for the feint at heart and wouldn't advise putting anything in unless you can afford to lose it all.
 
I have a small % of my investments in Coinbase mixed with Bitcoin cash, Bitcoin, Etherum, and Litecoin. At one point I was up about 40%. Now I am only up about 10%. I have a certain amount I am going to wait for it to hit and then cash out my initial investment and play with house money. At this point, I may be holding on for quite a while. I am going to set a "break glass" loss point where if the value dips to a certain amount I'll bail out completely. As others have said, not for the feint at heart and wouldn't advise putting anything in unless you can afford to lose it all.
Great, smart, and fun plan, imo.
 
If a 70% drop in an investment is not a bubble burst, then i’m going to have go with a butt plowing, but it’s just semantics I suppose. Most times there has been a bubble burst in other markets, equities or real estate or whatever, there has been a subsequent recovery, but it is still known as a bubble burst.

And looking at the price history, it looks to me like it’s never lost 70% of it’s value, unless it was back when it was so inexpensive such a loss would be hard to see on the chart.

Crashes are sneaky. Tough to know when they begin or when they end.
This is common. If I’m willing to take a 1300% percent gain, I can handle a 70% correction. This is the future.
 
I don’t know much about Bitcoin but a 90% drop will erase a 1300% gain posthaste. Very squirrelly investment. Always been a rule of thumb for me that whe the govs start piling on, time to head for the high grass.
 
I don’t know much about Bitcoin but a 90% drop will erase a 1300% gain posthaste. Very squirrelly investment. Always been a rule of thumb for me that whe the govs start piling on, time to head for the high grass.
Yep. That’s why at 18k you take initial investment and 25% profit off the table and then play with the houses money. Nothing different than any other investment.
 
Yep. That’s why at 18k you take initial investment and 25% profit off the table and then play with the houses money. Nothing different than any other investment.
So, you caught it at the top. Great call! And, if "nothing different from any other investment," I assume you mean you can catch any of them at the top. You must be very wealthy.
 
So, you caught it at the top. Great call! And, if "nothing different from any other investment," I assume you mean you can catch any of them at the top. You must be very wealthy.
Nope. Just got lucky with this one. I do well, but I work in the tech space. Not an investment banker.
 
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