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Well it couldn't quite reach $100,000 this year


haroldshand
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haroldshand
9 hours ago, goldbug9999 said:

Bitcoin always defies predictability in the short and medium terms. 

Always was a big ask IMO..

I am getting a feeling $40,000 is the new $10,000 , remember that?

Seemed to stick to that price for ages and then once it broke with nobody expecting it went mental

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Don Coglione
On 03/01/2022 at 09:20, haroldshand said:

I thought it would be a tall order but not impossible, have a feeling it will get there in 2022 though

I will put my balls on the block and state that Bitcoin will be closer to $0 than $100,000 at the end of 2022.

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haroldshand
7 hours ago, Don Coglione said:

I will put my balls on the block and state that Bitcoin will be closer to $0 than $100,000 at the end of 2022.

Are you going to elaborate?

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Pretty much a call that sounds ballsy but actually contains loads of arse-covering.

It basically means that Bitcoin has to be $49,999 or under to be correct.

I'll make a prediction, I reckon that by percentage, gold and silver will gain more than BTC this year. I wouldn't rule out BTC exceeding $100k but I think a big player cashing even a tiny bit would lead to bearish sentiment for months and the highs will be shortlived. 

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Don Coglione
17 hours ago, haroldshand said:

Are you going to elaborate?

No.

17 hours ago, Boon said:

Pretty much a call that sounds ballsy but actually contains loads of arse-covering.

It basically means that Bitcoin has to be $49,999 or under to be correct.

Indeed.

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Green Devil

https://inews.co.uk/news/politics/cryptocurrency-and-nfts-could-face-uk-regulation-crackdown-in-2022-amid-fears-young-people-risk-losing-money-1370008

 

Ministers are weighing up a regulatory crackdown on digital investment crazes such as cryptocurrencies and non-fungible tokens (NFTs) in 2022 amid growing warnings they could prove dangerous for vulnerable young people.

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Frank Hovis

Bitcoin is today up 4.9% over the past year.

If you look through all the fluctuations through that period is has done what it should do: acted as a hedge against inflation.

It sure beats 0.1% on a cash deposit.

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Don Coglione
19 minutes ago, Frank Hovis said:

Bitcoin is today up 4.9% over the past year.

If you look through all the fluctuations through that period is has done what it should do: acted as a hedge against inflation.

It sure beats 0.1% on a cash deposit.

It's a hell of a messy-looking hedge!

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Frank Hovis
Just now, Don Coglione said:

It's a hell of a messy-looking hedge!

Yup.

It's always worth taking the long view though and not fretting over missed buying / selling opportunities.

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1 hour ago, Frank Hovis said:

Bitcoin is today up 4.9% over the past year.

think u need to check your ZX spectrum data feed dude....it' started the year at circa 30k and finished about 47k? ie 2021

Gold? I think it was down a bit xD

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Frank Hovis
32 minutes ago, nirvana said:

think u need to check your ZX spectrum data feed dude....it' started the year at circa 30k and finished about 47k? ie 2021

Gold? I think it was down a bit xD

 

One year, now 6%

39.5 to 41.7

 

 

 

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3 minutes ago, Frank Hovis said:

 

One year, now 6%

39.5 to 41.7

 

 

 

well the fact it's just had a massive shit is helping your figures :P

it also went from 29k to 68k in the same timeframe :Geek:

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haroldshand
1 hour ago, nirvana said:

think u need to check your ZX spectrum data feed dude....it' started the year at circa 30k and finished about 47k? ie 2021

Gold? I think it was down a bit xD

Funny thing with Bitcoin you can play how well or good it's done using past data and come up with whatever you like, if you look at the last 18 or so months you can say it's gone up 700%, not bad.

But what is factual Bitcoin in it's 11 years only passed $40,000 last year and anyone in all those years that invested at that price or under  are well in profit, some in mind boggling profit

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6 hours ago, nirvana said:

think u need to check your ZX spectrum data feed dude....it' started the year at circa 30k and finished about 47k? ie 2021

Gold? I think it was down a bit xD

Weird it always seems to be stylised as a great big gold coin with a BTC symbol on it then

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7 hours ago, Loki said:

Weird it always seems to be stylised as a great big gold coin with a BTC symbol on it then

it was always the anti-bankers coin, the ultimate hedge against fiat....which it has proven rather successful at...

Unlike gold n silver....you may not like that but that's the story so far :)

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Frank Hovis
1 hour ago, nirvana said:

it was always the anti-bankers coin, the ultimate hedge against fiat....which it has proven rather successful at...

Unlike gold n silver....you may not like that but that's the story so far :)

 

Most people however treat it as just another speculative asset rather than an instrument of financial revolution.

I would have said that all commodities are a hedge against inflation, or FIAT inflation as some have it, with gold holding premier place owing to scarcity, meaning high value for low volume, and tax advantages when also UK currency.

I'm not a cheerleader for gold however; it's always been stocks and shares for me.

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Green Devil
1 hour ago, Frank Hovis said:

 

Most people however treat it as just another speculative asset rather than an instrument of financial revolution.

I would have said that all commodities are a hedge against inflation, or FIAT inflation as some have it, with gold holding premier place owing to scarcity, meaning high value for low volume, and tax advantages when also UK currency.

I'm not a cheerleader for gold however; it's always been stocks and shares for me.

Bitcoin started as a digital revolution. However that has changed recently as wall street got in on the game and launched their derivatives, futures, options, and their stocks, mstr and mara etc. Right now, youre right it is a speculative asset, manipulated by wall street like gold has been for decades. Until there is further real world adoption, ie countries, which may or may not play out. Now its a case of pick your winners and play the volatility. Some stocks right now are as volatile as bitcoin, nas small caps down 60% now of all time highs, its just wall street, play the volatility game.

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20 minutes ago, Green Devil said:

Bitcoin started as a digital revolution. However that has changed recently as wall street got in on the game and launched their derivatives, futures, options, and their stocks, mstr and mara etc. Right now, youre right it is a speculative asset, manipulated by wall street like gold has been for decades. Until there is further real world adoption, ie countries, which may or may not play out. Now its a case of pick your winners and play the volatility. Some stocks right now are as volatile as bitcoin, nas small caps down 60% now of all time highs, its just wall street, play the volatility game.

Even if it is adopted a national currency, as you say it is manipulated in the same way as the traditional reserve asset (What are your thoughts on Tether?)

It's like the banksters always win, or something

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Green Devil
11 minutes ago, Loki said:

Even if it is adopted a national currency, as you say it is manipulated in the same way as the traditional reserve asset (What are your thoughts on Tether?)

It's like the banksters always win, or something

I dont really have an opinion on tether. Its just a coin used transiently to transfer in between cryptos. Whether its backed 1-1 its all fud. But i wouldnt hold it long term, its just how you trade in an out of currencies. Ie to swop BTC to ETH you buy USDT/BTC (that is sell btc for usdt), then buy ETH/USDT (eth with usdt). The reason the volume and use is so high is simply for this reason. (the last one quoted in the pair is always the one you are transferring out of, like FX ). 

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haroldshand
1 hour ago, Frank Hovis said:

Most people however treat it as just another speculative asset rather than an instrument of financial revolution.

And that's just fine with me a mixture of store of value and payments systems with various alt coins having various tasks and 100 times better than what we have to day.  Bitcoin is never going to be a payment system but as store of value brilliant, hard to imagine it just lately in Britain, but imagine being somewhere with a pram load of gold and valuables in the centre of a danger/hot zone and you need to get it and you/family out, much easier if all your wealth is in your head and does not even weigh a micro ounce and then released and spent when in a safe zone.

Even Britain over the last 2000 years has little bundles of valuables buried everywhere in the hope of returning and spending later

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Green Devil
13 minutes ago, haroldshand said:

And that's just fine with me a mixture of store of value and payments systems with various alt coins having various tasks and 100 times better than what we have to day.  Bitcoin is never going to be a payment system but as store of value brilliant, hard to imagine it just lately in Britain, but imagine being somewhere with a pram load of gold and valuables in the centre of a danger/hot zone and you need to get it and you/family out, much easier if all your wealth is in your head and does not even weigh a micro ounce and then released and spent when in a safe zone.

Even Britain over the last 2000 years has little bundles of valuables buried everywhere in the hope of returning and spending later

People tend to think of it as a real store of value with its limited supply. However, IMO it isnt. Its just another speculative asset as stated earlier. The days of astronomical returns ended once it got listed as futures, then it became a speculative asset.

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