- Sackie's NEW crypto prediction -- to reach 20k.

Not gospel. Take it with a pitch of salt and a dash of vodka...or maybe 2 or 3..


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You bull you!

Mine is for $US10k.. right back to where it started before this cycle. May take a few months to hit that bottom.

Investing 101 - whatever goes up extremely hard and fast, comes down extremely hard and fast too. Seems millions forgot that class . Many will lose their life savings, and their life, a bit sad also.

 

Oh lawdy I would love to see 20k, 10k BTC would be a dream but unlikely. The buying opportunities...

 

Guess they may have deleted this link from any bookmarks.

Cryptocurrency Market Capitalization

 

It really is sad. I know 2 people personally who asked me late last year my views on crypto. Nice folks but very financially naive.

They told me their 'plan'. Basically to put most of their money they have in crypto. I told them regardless of my views, your plans are insane and totally financially irresponsible!

1 of them I know didn't buy (much). The other one went all in.

 

It's bloodbath in the crypto world right now.

 

Unless you know what you're doing, that's crazy, and basically, gambling with life savings.

 

I don't have the cash to speculate in Bitcoin, but I like to monitor it out of interest.

 

Like many parts of human endeavour, successful investing takes training, skills, judgement, experience, time and patience. The internet has given a lot of people the ability to cut corners, with results that more experienced investors predicted. Peter Lynch said to invest in things you understand. Buy a property, renovate, rent or flip. Woolworths, supermarket. BHP, digs up dirt. NAB, holds funds. Crypto ... I have no idea what this is about except that it's volatile.

Gambling is a good word. I've seen property values fall, rent go down, ASX companies go bust (one took seven years before I could claim the tax loss), dividends fall or cease ... and I'm miles ahead compared to cash. Spending $500,000 on a property is quite okay. Spending $2.00 on a scratchie horrifies me - it's gambling.

 

Honestly, I'd be surprised if it was above US$20k by Christmas!

I just can't see where the new entrants (which you need for a Ponzi scheme) are going to come from in the current global economy.

For something with almost no inherent value, perception is everything and that's getting a massive crack right now. Plus rising interest rates mean that there are secure investments available with an attractive return (maybe not for investors like us, but a 4.05% zero-risk return fixed for 5 years in Australia is actually pretty good).

 

Judo bank is already offering +4% TD for 5 years.

Wonder if there is some arbitrage play here.

While I do thik rates will increase, there is some chance it may stop at +1.50% from today.

As for bitcoin, $20k is definitely likely in next 12 month and possibly $10k

 

BTC, ETH etc are crashing hard today... red all over...

 

Well said.

Ok My 2c here. Over the years I've been investing and in business....I feel I've seen so many people make decisions which really makes you wonder....do you know how to assess risk? Eg you see a dead street corner with no foot traffic anywhere in sight...and a small shoe shop opens.....you just know they are dead before they begin.

Same thing with folks going all in, be it property or stocks etc. Where is the risk management relative to your net worth?

The worst deceiving outcome is when somebody does something totally financially irresponsible, has a good profit outcome...then concludes their decision making was sound.

They'll eventually get bitten very bad if they keep making decisions in that manner.

 

Great take @Sackie

Good outcome does not = good decision process.

 

I’m also hearing of more ‘life savings’ horror stories.. sadly more to come in all likelihood

 

Is Crackto dropping really a surprise.....???

 

Tether is now struggling.

This is UST (Terra) stablecoin and the crash that took it out:



And this is USDT (Tether) today...



If Tether depegs... the whole crypto market is at risk...

 

Its extremely sad to hear people losing life savings, but this downturn is what alot of people needed to see.. a bit of a reality check. Its not all rainbows and butterflies....

 

That is sad. Investing does not have to be complicated. here's an easy one - diversify. Hold properties and shares in companies is diversification. Another one - have cash as a buffer and to snap up opportunity. People that have nothing but crypto have broken the first rule. Even when I started buying shares I was diversified with cash and a day job.

If they could wake up without losing it would be nice. I went to a presentation about investing and it was all BS. The bloke giving the talk painted investing as foolproof, glossing over crashes and the like. I walked out. People are sucked in by these easy wealth stories. There should be a law.