It's still very cheap. But not an investment for timid little pussies who don't strongly believe in the underlying premise and will get shaken out if there is a bit of volatility.
Here's the thing guys if you want to be investors, you should have a sense of history, and your market knowledge should include some history, check out Tulips, Holland , 1636-7. Learn the signs of an overheated market and understand the original bubble. Not saying bitcoin is a bubble, just imparting some knowledge
History and putting investments into perspective with regards to history is very important for a good investor to understand. When i was buying houses 10-15 years ago I thought I was smart because the values were rising. How ignorant of me to misconstrue my intelligence correlating with luck in rising equity value in my homes.
My smartest decision after the markets collapsed 10 years ago was to dump as much as I could shelter from taxes. My normal 30% that could have gone to Uncle Sam and the IRS stayed invested while the tumbling stocks had everyone heading for the exits. It's today 10 years later I find myself not thinking I'm intelligent, but thankfully I planned.
There is no profit in prognostication. Plan ahead and you will be wiser instead of trying to catch the next big wave. Hot stock ideas are more for gambling than getting your shit together.
They just pointed out on CNBC that the biggest users of Bitcoin are in Nigeria. Kevin O’Leary said he won’t invest in Bitcoin until there is an 800 number to resolve issues.
Really Dougster, zero? I sold my entire stake when it first started to drop, around $5700. Then realized the coinbase.com fees are ridiculous and now that it's not dropping fast I put half my stake back in (if there weren't any fees I would have traded differently. I'm probably gonna move to GDAX). But, looking at the current RSI, it's pretty damn high.
Of course... there is that $20 trillion dollars that the USA can't pay back, and the DXY is dropping, so....
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I sure could go for some Bitcoin and a Chackin Torpedo about right now.
The RSI is very high right now. It’s basically the highest it’s ever been all year, which indicates a good time to sell, not buy.
My smartest decision after the markets collapsed 10 years ago was to dump as much as I could shelter from taxes. My normal 30% that could have gone to Uncle Sam and the IRS stayed invested while the tumbling stocks had everyone heading for the exits. It's today 10 years later I find myself not thinking I'm intelligent, but thankfully I planned.
There is no profit in prognostication. Plan ahead and you will be wiser instead of trying to catch the next big wave. Hot stock ideas are more for gambling than getting your shit together.
Step2 profit
Of course... there is that $20 trillion dollars that the USA can't pay back, and the DXY is dropping, so....