Bitcoin

[rocky_warrior]

Any other investments recommended for the next week or so? Looking for not insanely risky stuff, but still a decent pathway to hefty growth. halp

LAC

As long as you're willing to hold for a couple years while they get the mine up and running.

[Hards Alumni]

There's no bumps when you're free falling

Oh, I meant everything soon.

[Hards Alumni]

I have some cash to invest now. Have no Bitcoin. Is it something I should consider at this price point? Wouldn't be more than 5% of my total holdings.

Any other investments recommended for the next week or so? Looking for not insanely risky stuff, but still a decent pathway to hefty growth. halp

This is not financial advice, but eventually BTC will bottom out somewhere.  IMO, in the 59ish range.  If you're willing to look at it going nowhere for a while then buy in.  I haven't bought in years.

But what do I know!  I just ride the roller coaster at this point.

Or you could just short the market entirely.   

[MUBurrow]

I have some cash to invest now. Have no Bitcoin. Is it something I should consider at this price point? Wouldn't be more than 5% of my total holdings.

FWIW, I invest in COIN as a proxy for BTC without having to actually deal with a crypto wallet.  Its obviously not a perfect proxy because its still a separate company and is trying to get involved in everything (prediction markets, etc.).  But I think it has the benefit of some regulatory protection and its price more or less tracks the crypto markets.

A personal benefit is that its also a standard deviation away from actually owning crypto, which I purport to oppose on moral-environmental grounds.  So the plausible deniability as the planet broasts is an off label benefit.

[JWags85]

This is not financial advice, but eventually BTC will bottom out somewhere.  IMO, in the 59ish range.  If you're willing to look at it going nowhere for a while then buy in.  I haven't bought in years.

Bingo.  Well done.  I'm personally not invested in crypto, my wife's company's compliance officer is a bit of a Luddite when it comes to it and structured their reporting/holding requirements for their company, as an investment firm, to prohibit it.

But speaking with friends recently and told them that buying at $100K, much less above that level by $5-10K above it, was not smart, just for psychological price level reasons.  Do I think it gets back above $100K and stays there?  Probably, but I can't tell you when or what timeline...at the very optimistic, I think it bounces around $100K for quite awhile before it properly breaks and holds that level.

But $60K looks like a pretty glaring/important technical level.  Played around there in 2021 multiple times, then consolidated there in 2024 before running, so that makes a TON of sense for that level where it retreats to in this drop.  My friend has big buys at $65K and more at $59,200 optimistically.

A personal benefit is that its also a standard deviation away from actually owning crypto, which I purport to oppose on moral-environmental grounds.  So the plausible deniability as the planet broasts is an off label benefit.

Love this 

I have a very good, very intelligent, very measured friend who is currently a risk management/business continuity exec at one of the biggest hedge funds in the world.  He's currently being recruited VERY hard by Ripple/Hidden Road.  If he ends up accepting the role there, he will have very interesting inside baseball perspective and insight on crypto, the landscape, and its potential runway/use cases.  That insight would be intriguing to me because I hear all the arguments and understand the perspectives of crypto advocates, but I think we are so far away from crypto being anything but a speculative investment vehicle on any real scale.

[jesmu84]

Take out the Mag7 and check your charts.  And then remember they're all sitting on an enormous ticking time bomb of "AI".

Buckle up everyone, its going to be a bumpy ride. 

No matter what is done based on social issues, I continue to believe the actual downfall of our republic will be the result of short term profit seeking + commodification/financialization of everything + corruption.

[Hards Alumni]

Bingo.  Well done.  I'm personally not invested in crypto, my wife's company's compliance officer is a bit of a Luddite when it comes to it and structured their reporting/holding requirements for their company, as an investment firm, to prohibit it.

But speaking with friends recently and told them that buying at $100K, much less above that level by $5-10K above it, was not smart, just for psychological price level reasons.  Do I think it gets back above $100K and stays there?  Probably, but I can't tell you when or what timeline...at the very optimistic, I think it bounces around $100K for quite awhile before it properly breaks and holds that level.

But $60K looks like a pretty glaring/important technical level.  Played around there in 2021 multiple times, then consolidated there in 2024 before running, so that makes a TON of sense for that level where it retreats to in this drop.  My friend has big buys at $65K and more at $59,200 optimistically.

You should check on him lol

[JWags85]

You should check on him lol

Oh he's thrilled.  Added buys at $55K and $50,500 in case it truly gets hairy.  His overall basis is in the high 20s, so he's just stacking at this point.

[rocky_warrior]

Oh he's thrilled.  Added buys at $55K and $50,500 in case it truly gets hairy.  His overall basis is in the high 20s, so he's just stacking at this point.

[Hards Alumni]

Oh he's thrilled.  Added buys at $55K and $50,500 in case it truly gets hairy.  His overall basis is in the high 20s, so he's just stacking at this point.

IF I buy more it will be when there is an established bottom.  If it bounces and I miss out, that's fine by me.

[jesmu84]

Texas Becomes First State to Buy Bitcoin https://share.google/RIGM7pux7cD5ijtld

Good timing from hot wheels

[MU82]

Richard Farr, chief market strategist and partner at Pivotus Partners, has issued a stark prediction for Bitcoin (BTC-USD), setting a price target of zero for the cryptocurrency.

"Our BTC price target is 0.0. That's not just for shock factor. It's where the math takes us," the strategist said, noting that Bitcoin (BTC-USD) has failed to function as a dollar hedge and instead operates as "a speculative instrument correlated to the Nasdaq."

https://seekingalpha.com/news/4547997-bitcoin-s-price-target-at-zero

[forgetful]

Oh he's thrilled.  Added buys at $55K and $50,500 in case it truly gets hairy.  His overall basis is in the high 20s, so he's just stacking at this point.

I know nothing, but if it doesn't stabilize around $50k, I think it is going to flirt with $20k. Then the question is at what price does it collapse?

[MU82]

There's no way to even guess.

With a stock, you can look at its P/E ratio, dividend yield, P/S ratio, etc, compare them to their 5- or 10-year norms, and make a reasonable, "Its fair value is $X" determination.

With Bitcoin ... "uh, maybe $50K is too low ... or not."

[Hards Alumni]

There's no way to even guess.

With a stock, you can look at its P/E ratio, dividend yield, P/S ratio, etc, compare them to their 5- or 10-year norms, and make a reasonable, "Its fair value is $X" determination.

With Bitcoin ... "uh, maybe $50K is too low ... or not."

Rubbish comparison

[JWags85]

I know nothing, but if it doesn't stabilize around $50k, I think it is going to flirt with $20k. Then the question is at what price does it collapse?

To collapse, even retreat all the way to $20K, I think there needs to be a significant vanishing of demand and I don't see that yet.  You can't value/benchmark it like a stock on "underlying fundamentals" but its still a supply/demand speculative vehicle at the very least.  And I don't suddenly see the demand for it to be completely gone.  There are WAY too many people licking their lips to add more on pullbacks, IMO.

[JWags85]

Actually a pretty solid and interesting read on the pullback/greater implications going forward for BTC pricing

https://x.com/portfolioxpert/status/2019180840958529601?s=46

[Hards Alumni]

That's funny, I read the same tweet earlier this morning, Wags.

[Skatastrophy]

Yeah my buddies working at HFT firms love messing around in the crypto derivatives market because it's basically unregulated. Holders are chumps