They arent correlated in any way. Btc will follow the nasdaq and s&p like always and gold is playing out its own long term patterns and will still be going up when btc bottoms. Slow and steady.
Btc better hold that 29k support when it gets there but i doubt it will. I think it will break lower. Its sucking a fat one right now.
I also think it will break lower. Probably there will be a bump around 28-30 k, but due to the economy-related trends, I think it will go lower probably even this year it will land around 10 k. What is bad is that gold seems to be making humps and bumps. Quite a bit like in 2012-2013, before it crashed.
I'm backing up the truck at 25k. If the economy goes into recession after a few more rate hikes, they'll have to lower rates and fire up QE
Watch how BTC and ETH are dropping, but many of the "cr*pcoins" that wanna be big aren't drooping. Just go through the prices and the charts. Some seem to have bottomed already (also on the charts). Prolly the next bounce back will occur at around 30 k.
Is 'back up the truck' at a low price target really a good strategy - or is it based on something technical? Why not dollar cost average? When we get to 25k the technical might be pointing to 15k etc and the market environment could be totally different at that point in time.... Hey, 25k could be a great entry point don't get me wrong just want to understand the basis for it other than being happy to dump cash into an arbitrary number - to be honest it's this kind of thinking that makes me comfortable sitting on the side till it's all washed out.
I subscribe to larry lepard's way of thinking. Buy as it falls, if it crashes, sell some gold to buy more
I could see this working well for a 5-10 year time horizon with a mindset that isn’t fussed about paper value volatility and more focused on QTY owned. Good luck with it - pretty sure you will have your truck license soon!!
It also goes the other way, sell btc when it's peaking and pick up some gold. I wasn't experienced enough in 2021 to know that
That's a risky and dangerous way of thinking, you could easily lose the shirt off your back and end up in the poor house doing that. Better to sell the craptos and buy gold instead of the other way around for those with more than a couple of brain cells rubbing together, instead of trying to pick your bottoms
^ Warning: the above post contains investment advice. The author is also an expert on subterranean cities, Draco reptilian alien princes and the subway system that connects Pine Gap Military base to Canberra.
I'd also put warnings after your comments but you'd delete them. For a moderator who's meant to be impartial, you sure do like to make things personal.
Theres a floor at 29k but its not that strong and will probably break down through that with the markets hemorrhaging. Down more than 50 percent now and still tanking. Btc and gold forming opposing patterns at the same time.
What are your opinions on these? Are they worth paying attention to? JobChain - very little serious info on this Amp SafeMoon - dodgy name, might be a ShibaInu category... Viberate Constellation (some of these might be in the Doge/Ravencoin category, I think)
I do get a bit of a laugh at the 'exuberance of youth' on here regarding the cryptos and the price action going forth from here. Those of us who have been around the block a few times more than you youngsters know that this price crash in cryptos (and other assets) is only just beginning and will play out over a number of years as it did in the great depression 1929-1939. And it will take nearly a generation for the decimated asset classes to regain their lost values as happened back then. All this talk of being near the bottom already and backing up the truck is premature ejaculation, based on nothing more than the previous few years of price action history in cryptos. We are entering uncharted territory here and we will see as many crypto investors go from riches to rags, as we saw go from rags to riches in the early years.
Could this be the "road to hell"? When countless cryptos go to zero or near zero area and collapse forever. Then, no-one would ever trust cryptos again. Peter Schiff will be given the Nobel-prize and Michael Saylor will work at Burger King for a living.
^ Warning: the above post contains investment advice. The author is also an expert on subterranean cities, Draco reptilian alien princes and the subway system that connects Pine Gap Military base to Canberra.