The Bitcoin Thread (price and other bitcoin related topics)
(03-12-2020, 07:27 AM)Contrarian Expatriate Wrote: I am surprised that BTC is still tanking in lockstep with the stock market.  It is almost as if BTC holders are moving to cash in order to position themselves to buy up stocks on the cheap which would not be at all a bad strategy.

Whatever the case, no one knows what BTC will do in either the short term or the long term.  I am still hoping it goes down to my entry point of $2000.  Will it ever get there?  Perhaps not.  But "black swan" events like this virus tend to pull frothy markets back down towards the mean which would be the $3000 to $4000 range in my estimation.  That would be a good place for those on the sidelines to jump in but $2000 just makes it a much more compelling point for me to get skin back in the game.

I am not going to rule anything out, but still seems that your odds for $3k to $4k are even quite improbable currently.  If we go below $6k, then your odds would at least be approaching 50/50 to get somewhere into the $4ks.. one step at a time, and in the meantime, I just continue to buy on the way down... that has worked pretty decently for me, so far, and I have no reason to believe that it does not continue to be a viable and prudent strategy forward, at least in regards to bitcoin...
Reply


Messages In This Thread
RE: The Bitcoin Thread (price and other bitcoin related topics) - by JayJuanGee - 03-12-2020, 07:34 AM

Forum Jump:


Users browsing this thread: 11 Guest(s)