What I hate about Bitcoin is that I have absolutely no idea if this is 1) a good dip to buy, or 2) the start of a much bigger crash. Everything I understand about the topic and the world at large tells me it should be #2, but in retrospect it always winds up being #1. Am I passing up free money today? Or am I smart not to gamble in such an obviously rigged game? Will I look back years from now longingly and wish that…
How is that different from the stock market ? Maybe you have 'more ideas' but that would not prevent you to be wrong. In both case nobody can predict what will happen next
It could be up to 100k in a week, could be down to 20k or anything in between. I honestly have no idea which one is more likely and wouldn't be surprised by any price, high or low. I'm also very skeptical of anyone who claims to know what's happening in the cryptocurrency market and why.
Zero to infinite.
Good arguments all around.
If governments decide it’s a threat I imagine it’ll go to near zero.
Much to my personal shock that doesn’t seem to be happening.
What I hate about Bitcoin is that I have absolutely no idea if this is 1) a good dip to buy, or 2) the start of a much bigger crash. Everything I understand about the topic and the world at large tells me it should be #2, but in retrospect it always winds up being #1. Am I passing up free money today? Or am I smart not to gamble in such an obviously rigged game? Will I look back years from now longingly and wish that…
Spread your chances. Buy some now, buy some again later when it crashes even further. If it doesnt crash further, at least you profited from the current dip.
You conveniently left out the scenario where it continues to crash, and OP looses money twice by following your recommendation. It's a casino.
What's interesting about this is I could see it coming a few days ago. Funding rates on FTX were super high, so you could see people were getting reckless with leverage leading up to this.
It’s interesting and a little surprising to me that people selling almost $8 billion in BTC found ready buyers such that the market clearing price only dropped 10%. That’s a lot of money to move, and implies that a lot of other people saw this as a chance to buy a dip.
What I hate about Bitcoin is that I have absolutely no idea if this is 1) a good dip to buy, or 2) the start of a much bigger crash. Everything I understand about the topic and the world at large tells me it should be #2, but in retrospect it always winds up being #1. Am I passing up free money today? Or am I smart not to gamble in such an obviously rigged game? Will I look back years from now longingly and wish that…
Buy a ticket, dont put in much. Adjust over time. I think the foolish point of view is to look at it as black and white. And whatever you do, don't rob yourself of participation in a meme, fun is not a zero sum game.
What I hate about Bitcoin is that I have absolutely no idea if this is 1) a good dip to buy, or 2) the start of a much bigger crash. Everything I understand about the topic and the world at large tells me it should be #2, but in retrospect it always winds up being #1. Am I passing up free money today? Or am I smart not to gamble in such an obviously rigged game? Will I look back years from now longingly and wish that…
Spread your chances. Buy some now, buy some again later when it crashes even further. If it doesnt crash further, at least you profited from the current dip.
Sure that makes sense, but why? By that I mean, if I'm evaluating stock in a company, or a commodity, I can reason about the investment in terms that I understand, or at least convince myself one way or the other enough to not lose sleep over it even if I lose money. But crypto? I've got nothing. Total shot in the dark. Completely blind. I can make arguments either way, and both seem equally valid, and both based on pretty much no reliable data. Not looking for an answer here, just venting really.