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Anyone else watching bitcoin?

By: Decomposed in BAF | Recommend this post (0)
Mon, 10 Jan 22 5:24 PM | 48 view(s)
Boardmark this board | Bash-a-Farter 		Msg. 06011 of 06530
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Re: “Anyone else watching bitcoin?”
- clo2 #msg-1197929  

I expect you'll find that I'm the only one.

Catching the bottom of 'a falling knife' is always a challenge. That's why you figure out what you want to spend and buy repeatedly. The question isn't so much whether such a purchase is going to go lower as whether it will EVER go higher. IMO, bitcoin will. I think that its ~$700 billion current valuation is small compared to the coming worldwide demand for cryptocurrency. But I could be wrong. That's why my three purchases (of ethereum, not bitcoin) total up in dollars spent to just 1 of my standard initial purchases of a stock.

With $40,000 breached - albeit briefly (less than 20 minutes) - $35,000 is thought by pundits to be the next support point. I expected $41,000 to hold, so I'm not going to weigh in on what I now think. I thought $41,000 and I was wrong. I will point out, though, that bitcoin was $67,000 in November and I figured it would test support in the $41,000 to $49,000 range before going higher. At least I got the "needs to test support" part right and didn't begin buying when it was already sky high. Some, of course, will argue that bitcoin is sky high at ANY price. You could say the same about gold. Or about the dollar. None of them are priced by inherent merits.




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Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months

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