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Gold is a very rare Earth material, all the Gold in the entire world including what we haven't found would only fill one Olympic swimming pool. Gold is used in so many electronics. It is an extremely important thing.
Gold has lost 8% of it's value while Bitcoin has gained 500,000+% over the past decade.
I hope you’re right. Got money in both. We’ll see which will outperform over the long term. Even penny stocks can outperform in the short term
Last time I checked a decade isn't short term...and BTC will likely be closer to a million in 5 years than $100K.
A decade is very short term in the grand scheme of things. But yes let’s see what happens
A lot of great insights in this post and hope all relatively new entrants who came into this market will take note. We have a difference of opinion on Bitcoins long term viability risk at this point but I certainly think it very much applies to the majority of other projects. We are most likely entering the final leg of this cycles uptrend, it is going to be incredibly euphoric and most of you will make massive returns. As someone who has been doing this for a while and know many people who have large positions, I will be looking to take considerable percentages of my portfolio off the table over the next few months. The majority of long term holders who have been through these cycles are too. Any new money coming in now should proceed with caution. It doesn't mean you can't participate but just take a more measured approach. If you have made a lot of money, consider taking some off table over the next few moths. You will never be able to time tops and bottoms so my preferred method is to cost average in and out of positions. Deeply learn about what you are investing in so you can have true conviction in what you are holding though the volatility. Understand if we do get a blow off the top end to this cycle your positions could be underwater for a decent amount of time. At some point BTC will have a 50-85% extended correction and many of these other projects will lose 90%+, even the more solid ones. Many will never recover. Most have to learn these lessons the hard way at some point in life, myself included. Just make sure the damage isn't too much that you can't recover.
Not sure how many more dips you are going to get...one of these times it's going to run fast and hard and melt faces on the way up.
I definitely won't be panic selling, I know that's a rookie mistake a lot of guys make.
LTC to $1,000 most likely
We are going to get a 10K+ candle sometime soon
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Yup...gonna leave people in disbelief.
It's painful. I still prefer a gold backed currency.
I own a lot of physical gold but there is real risk of bitcoin demonetizing it. The main issue with a gold backed currency is it is stored at a centralized source, usually central banks. Because this there is a lot of risk with manipulation and other issues. Humans always find a way to screw things up
I don't really get too much involved with those types of projects(meme coins). Clearly some of them are very viable and can make a lot of money, I actually had some $DOGE and $SHIB for a while and made some profits off of those, but in general I tend to prefer tokens with viable use cases behind them.
