Huh?
Anchoring leads to a bias in behavioural finance. It happens when people create mental anchors.
For example:
"Bitcoin was 68k a few weeks ago. Now it is 34k. Therefore it must be cheap and it will have to bounce back up"
People anchor their opinions on the fact that it was at 68k, rather than looking at it objectively. If enough people do the same, it can become self fulfilling. The music might stop though
Bitcoin is going nowhere though. People who bought at the top will not be at a loss long term. Buying now is still good if you have a long term outlook, but I think we have some more to fall.
Bear is when most Alts die.
But ignoring that, and assuming the bear is running until maybe February or even November, If I was planning on buying alts, I would be stacking now getting ready for later. But I wouldn't be buying this early. That is just imo.
And. Coincidentally. The phrase still ringing in ears, it is being repeated here
This could all end in tears like the Dutch tulip mania of 1634-37
Is their nothing else only tulips
Bitcoin down 45% over the last 12 months. Not the kind of year we had been hoping for. I'd say we're heading for €25k.
At What level does Saylor need to liquidate?
It's utterly pointless. A waste of computing power fuelling the dreams of get rich quick prospectors.
$21,000 according to Microstrategy themselves.
No. That is the level at which he gets margin called for one specific loan which is not a large part of his holding. It would be more of a psychological impact than anything. He could likely just pledge more of his unencumbered ones rather than paying over cash.
Still, he does have shareholders to keep happy!
The schadenfreude in me wants to see this happen
The UST peg is breaking. Even though it’s meant to be a DAO, the “boss” lender 1.5 billion in Bitcoin to OTC desks to support the peg. Not working so far. Algorithmic stablecoins are an absolutely horrible idea. At least Tether can just operate out of the BVIs and have an nonexistent CEO who doesn’t answer questions.
Same as Uniswap, smaller market cap.
Nvm
BVI?
British Virgin Islands. Where Tether and Bitfinex are registered
Lol I googled BVI and that's what came up. I assumed it was wrong. I thought BVI was some finance acronym
An elaborate pyramid scheme of sorts for a finish, people who got in early did well, and many had life changing financial experiences, more power to them.
For every winner there must be a loser though.
All new buyers are doing at this point is locking in profit for others.
How does this differ from any other financial product? (stocks, pensions etc) Even keeping your money in a bank account holds risk.
If you think bitcoin is the same as your savings in the bank or shares in Diageo or Ryanair etc. then all I can do is wish you the best of luck with your bitcoin investments.
It's better. (Over a long period of course, don't cherry pick time frame that suit your narrative).
If no one wants to buy your Ryanair stock what's it worth?
I see the same argument all the time. It needs new investors. What happens the dollar if people stop buying it, what happens shares if people stop buying it, what happens house prices if people stop buying it.
That's the market. Things only go up in value if someone is consistently willing to pay a bit more.
As for saving in the bank. As Eddie Hobbs says every 1 out of your 8 euro in the bank will be gone by the end of the year through inflation.
A stopped clock is right twice a day. Don't listen to that clown Eddie Hobbs.
It was better over the period since it started, no guarantee it will be any better going forward.
You could give that 8 Euro to Eddie and he could go and buy foreclosed properties in Detroit for you and he'd go even better. All 8 would be gone by the end of the year!
High quality commercial investments in Germany became an uneducated gamble on derelict houses in a city that was being allowed to rot
Bitcoin will continue to trend up with time. We can come back here in 3/5/10 years and I'm confident I'll be right and we'll be at multiples of what we are now.
Want to buy some property in Detroit as an investment?
Difficult times.
Never be afraid to take profit off the table.
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