Crypto Sackie's crypto prediction - to reach 30k.

Discussion in 'Other Asset Classes' started by Sackie, 21st Sep, 2021.

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  1. Noobieboy

    Noobieboy Well-Known Member

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    And you can’t take silver. Amend it and creat gold. Value stores are usually not substitutable
     
  2. Trainee

    Trainee Well-Known Member

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    yes it has uses, but the price of gold isnt based on what it is worth in industrial uses. Is the price of a house based on the intrinsic value or what it can rent for?

    dont understand the value of crypto either. Just saying that a lot of gold’s market value is also not ‘real’ but based on opinion.

    But money itself is all opinion anyway. Our whole system, gold or not, is based on a level of shared delusion. Sort of works tho.

    maybe i just think i understand the delusion behind property and shares. But belief in the delusion is what keeps everything going.
     
    Last edited: 22nd Jan, 2022
  3. bamp

    bamp Well-Known Member

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    I was persuaded on the technology, but funnily enough, didn't buy anything because the process to buy and store coins is quite confusing.

    So once again, my incompetence saves me
     
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  4. spludgey

    spludgey Well-Known Member

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    Electronics, catalysts, teeth, etc.
    Its price would drop significantly, but it would definitely still have a value if people stopped seeing it as a commodity and stopped using it in jewellery.
    So unlike crypto, it definitely has an inherent value.

    Personally, I won't invest in something with little or no inherent value.
     
  5. Michael.Knight

    Michael.Knight Well-Known Member

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    Humble pie for what exactly? I've been investing in bitcoin since 2019 and 2020 when bitcoin was $3500 - $6000 USD. If your timeframe is years, not days, you haven't lost anything. Corrections are normal in markets. Just look at Netflix, down nearly 30% since November.

    Clearly what you're trying to achieve by shorting bitcoin, is to time the market for a profit, over a period of days / weeks. Not a great strategy for any investment. For the Netflix example above, it's still 100% up since January 2019.

    And for digging up a post 3+ months ago? Crypto clearly is on your mind more than you realise.

    I know you love to see it go down haha.
     
    Last edited: 22nd Jan, 2022
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  6. Sackie

    Sackie Well-Known Member

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    If you've made a killing then good on you. I'll take your word for it mate. It's in the realms of possible so more power to you.

    Re digging up 3 months old post well....it's a prediction thread....kind of the point to check back in over time.
     
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  7. Laker

    Laker Well-Known Member

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    No not “cashing out”! At the moment I only spend bitcoin if I absolutely need to for living expenses and if I need a supplement income. The bitcoin I hold will last me the rest of my life and what is left will be passed on to my children. I will use the bitcoin as collateral for loans so as to minimise any selling.
     
  8. standtall

    standtall Well-Known Member

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    I have a friend in London who recently got ‘rich’ trading crypto. I am only judging by his family trip photos showing him and family travelling first class to Maldives and staying in a suite next to Bangladeshi prime minister.

    He is a very critical of certain coins and quickly points out ‘speculative greed’ behind but gets very personal and defensive if someone pointed out the same ‘fundamentals’ for Bitcoin or couple of other coins he is invested in. He threatened to block me once I sent him a Tulip bubble graph from 1700s.

    His extent of social activity is directly correlated with bitcoin price movements. He is becoming very quiet lately and has changed his twitter account into a private account.
     
  9. Sackie

    Sackie Well-Known Member

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  10. standtall

    standtall Well-Known Member

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    Sackie likes this.
  11. Sackie

    Sackie Well-Known Member

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    If he does.......prices will plummet even faster.
     
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  12. Laker

    Laker Well-Known Member

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    No it’s not! All equities are down!
     
  13. Laker

    Laker Well-Known Member

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    Tesla won’t sell. Even if they did 1.5bill with my significantly impact the price which has 35bill of daily trading volume. Maybe a few % like it did when they bought.
     
  14. Noobieboy

    Noobieboy Well-Known Member

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    You are saying daily volume of Bitcoin is 35bil?
     
  15. standtall

    standtall Well-Known Member

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    It’s the perception of Tesla ditching Bitcoin that will do the damage. I seriously think Tulip bubble has now burst for good and it will be a quick downward ride.
     
  16. Ruby Tuesday

    Ruby Tuesday Well-Known Member

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    I think some people value morals greater than bitcoin or TSLA. TSLA is dragged down because of concerns over TSLA not complying with Joe Bidens's forced labor bill, TSLA's association with Xinjiang and the morality of doing business in Xinjiang.
     
  17. Ouga

    Ouga Well-Known Member

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    "Trying is the first step towards failure" Homer
    There is no denying crypto is a volatile space, has been and will be for the forceable future.
    What would be interesting to know is what you believe lies ahead @Sackie - do you think Bitcoin is going sub $30k and not going back up ever again? Do you see this as the end of the space altogether?

    No one has a cristal ball, so it's anyone's guess I suppose.

    Personally I do not think this will be the case - at all. These moments have already been lived through repeatedly. I still remember 2013 seeing the prices surge all the way to $1300 only to crash back down to $100. There has been many crazy ups and down since of course. On a longer timeframe however, the trend has been up and up. I think a few years from now, the prices will have surpassed the all time highs we've seen here, just like it's done in the past. With each pop there is lots of frothiness in some sectors. Here I think we've seen lots of **** coins getting pumped ridiculously and NFTs seem to be the latest craze. I have no doubt some of these will crash down to nothing and soon be forgotten about (remember crypto kitties?). In the end it all flows back into BTC and ETH.

    But yeah, curious if you all think this is the end of the space, because unless you are into trading this stuff, I think the risk/reward ratio is still great over a medium to long term timeframe (5-10 years) hold.
     
    Last edited by a moderator: 24th Jan, 2022
  18. standtall

    standtall Well-Known Member

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    Oh no it has all the features of a Tulip bubble or South Sea investment. Firstly, there is no inherent value or use other than for the purposes of speculative gain, no ongoing yield or income producing ability, unregulated trade and massive trading costs.. if you could use bitcoin to pay for all your expenses today, you will be paying a massive chunk of your income in fees.

    Tulip bubble had lots of mini crashes too and then had a massive crash.

    A friend investing in one of the emerging markets always defended his investments saying there already had been multiple corrections hence there was no value gap.. he is worth 40% today of what he was worth in 2016.

    There is a greed element in every investment including real estate but there has to be some usefulness as well .. Australian real estate prices aren’t going up just because of speculation, there are people in desperate need of houses closer to employment and schools which is driving all the demand .. no such inherent demand exists for crypto, tulips or south seas trading companies.
     
    Last edited: 24th Jan, 2022
  19. Laker

    Laker Well-Known Member

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    Bitcoin use case is a currency/store of value with a fixed supply that is free of government control and therefore can’t be hyper inflated as is always the case with government controlled currency. With bitcoin I have 100% control of my wealth and can transfer value to anyone, anywhere, anytime near instantly and extremely cheaply.
     
  20. Gen-Y

    Gen-Y Well-Known Member

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    I would only hold BTC and ETH for the long term.
    Everything else is just pump and dump projects.
    Is this the right time to jump in if this is your first time? Answer is NO.
    I would think in the coming 12-24 months would be the time to dip your toes in.
    When QE in 2013 was finished by the FED - all crypto went into winter hibernation for many years.
     

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