Jump to content

Bitcoin at $100,000 in 2021? Outrageous to some, a no-brainer for backers


Recommended Posts

1 hour ago, OneMoreFarang said:

I am sure someone had a similar idea about the following year in 2017...

So what's that graph of? Not Bitcoin, looks more like the Greyscale trust, but without any information the graph seems kind of useless?

Greyscale sort of follows BTC but very unpredictable at times. Their Etherium trust is even more erratic.

  • Thanks 1
Link to post
Share on other sites
1 hour ago, Hamus Yaigh said:

So what's that graph of? Not Bitcoin, looks more like the Greyscale trust, but without any information the graph seems kind of useless?

Greyscale sort of follows BTC but very unpredictable at times. Their Etherium trust is even more erratic.

Sorry, I apologize. I googled for Bitcoin price over time and that graph came up first. But the header is "Grayscale Bitcoin Trust (Btc)" My mistake

 

Here is hopefully the correct graph. My point is and was obviously that not every high is followed by a higher high. Sometimes it goes down for a long time.

 

Bitcoin1.png.9d240a60602608fd036a37121655d5f0.png

 

 

Link to post
Share on other sites
8 minutes ago, OneMoreFarang said:

Here is hopefully the correct graph. My point is and was obviously that not every high is followed by a higher high. Sometimes it goes down for a long time.

 

No doubt. But looks like a new price plateau was reached.

 

My personal strategy is to hold on to the bitcoin I had (see where it goes...) and speculate in the altcoins and <deleted>coins. The rationale is that bitcoin is at an all time high, but the smaller cryptos are still far away from it, and will eventually have to catch up?

 

Link to post
Share on other sites
On 12/2/2020 at 8:19 AM, impulse said:

Tulip bulbs.

 

Deja vu all over again.

There are likely 2 choices people have. Either guarantee their future financial status by buying BTC now, at just under 20k per coin. Or wait until it is more accepted and pay several times more.

 That Jamie Dimon is fully behind BTC now(after threatening to fire any staff member that bought BTC what 2 years ago?), that Paul Tudor Jones, Micro Strategy, Paypal, Guggenheim etc are all now backers and believers of BTC in its role as the new gold, you would be in a riskier position not having a small % of your wealth invested in it. IMO of course!

Link to post
Share on other sites
2 hours ago, TopDeadSenter said:

There are likely 2 choices people have. Either guarantee their future financial status by buying BTC now, at just under 20k per coin. Or wait until it is more accepted and pay several times more.

 That Jamie Dimon is fully behind BTC now(after threatening to fire any staff member that bought BTC what 2 years ago?), that Paul Tudor Jones, Micro Strategy, Paypal, Guggenheim etc are all now backers and believers of BTC in its role as the new gold, you would be in a riskier position not having a small % of your wealth invested in it. IMO of course!

 

Or the third choice.  Avoid it altogether.  And buy one of the hundreds of other cryptos coming on the market if you really have need for one. 

 

As a speculative gamble, maybe.  As a repository of wealth?  Who can afford to buy gold at $15,000, only to have it worth $4,000 a few months later- like when you need to cash it in to buy a house.  Doesn't sound like any kind of guaranty of future financial status- any more than tulip bulbs, Enron stock, ostriches or Beanie Babies.  All of which had their dedicated followers.

 

And I suspect the names you've mentioned are believers in crypto, and will be coming out with (or backing)  their own versions to compete with BTC.  Seems like a new one is announced just about every week- with some big names behind them.

 

Edited by impulse
  • Like 1
Link to post
Share on other sites

It's definitely not an investment for those who aren't financially secure.   You really should have everything else taken care of first (homes/condos paid off, college funds for the kids in fiat... as that's what you'll need to pay it with, zero debt...), and only then consider having tranches of crypto.   I have some air gapped btc set aside just to see what happens to it, but at the same time... I do see that it is 'just' tech.   Remember when Intellivision and Atari 2600 game consoles were cutting edge 'tech?'

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...