BITCOIN Discussion..........

[ktollinche]

maybe not 10K but sub 50K (high 30's) for sure.

That is assuming ai trade fizzles out

 

[JDS]

Will XRP follow Bitcoin in the dumps ?

 

[send_it]

Doesn't Bitcoin and other major indices like S&P 500 have some level of correlation to follow each other? If bitcoin plummets, then I think many other things would, but at this time economy is doing well in US at least so hard to believe it can plummet so far

 

[ktollinche]

I am talking short term. I am a long term believer but in the short term BTC will always be susceptible to sizeable crashes.

Even if it goes to really lows, I dont think (at least I am hoping) that it will stay there very long.

Yeah there is a correlation, till there isnt. What BTC doesnt have is automatic buyers like the main indexes. And its the most levered and the first source of emergency funds, if someone needs funds quickly

 

[send_it]

I am talking short term. I am a long term believer but in the short term BTC will always be susceptible to sizeable crashes.

Even if it goes to really lows, I dont think (at least I am hoping) that it will stay there very long.

Yeah there is a correlation, till there isnt. What BTC doesnt have is automatic buyers like the main indexes. And its the most levered and the first source of emergency funds, if someone needs funds quickly

I see. I don't understand bitcoin enough to invest in it or use it. I follow Buffet's rule (I think it was his) to only invest in things you understand, use and see potential in

 

[ktollinche]

what you can do (is actually what I am gonna do)

I have money set aside to buy the dip and will do so at 75K, 65K, 55K, 45K and 35K and then ride it back up (hopefully) and sell at 100K. And then wait for the next opportunity.
Wont buy in one shot, cause it can always go lower. And if it doesnt go all the way down...well that is life

 

[jjgold]

It’s a good strategy buying dips as any stock if you really believe in it

 

[homie1975]

Doesn't Bitcoin and other major indices like S&P 500 have some level of correlation to follow each other? If bitcoin plummets, then I think many other things would, but at this time economy is doing well in US at least so hard to believe it can plummet so far

Yes bitcoin and nasdaq about 70% correlated these days.