2020 Collapse

Discussion in 'Markets & Economies' started by TreasureHunter, Dec 8, 2019.

  1. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Just think of all the thousands of variants that they miss out there.
    Im surprised everyone isnt dead by now!

    Have a great Sundaycron!
     
  2. TreasureHunter

    TreasureHunter Well-Known Member

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    Bitcoin will go down to 30 k $, Watch!
     
  3. sammysilver

    sammysilver Well-Known Member Silver Stacker

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    AUD or USD?
     
  4. TreasureHunter

    TreasureHunter Well-Known Member

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  5. heartastack

    heartastack Well-Known Member Silver Stacker

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    Once it's done bleeding like a stuck pig it could drift far below 30k.
    Unless you're a well informed active trader I would think about sitting out for a bit and working on an accumulation strategy once it consolidates into a sideways accumulation pattern.
     
  6. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    How's your flu going? :)
     
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  7. heartastack

    heartastack Well-Known Member Silver Stacker

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    100% now mate! Put me out of action for 10 days (feeling rubbish) and + 4 days to get rid of the cough. Smell and taste loss came at the end of the fight and were the worst symptom imo, made it feel more alien than other viruses since it infects the neurons associated with olfactory senses so it is not the typical sensory loss from congestion alone. For Delta anyway.

    Felt like something that could definitely kill Grandma. On the fence regarding how much the jabs helped in the end, but I wouldn't want to think about it hitting worse than it did.

    Bring on Omicron, gotta catch em all !!
     
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  8. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    That's great for you! I was a bit surprised when you mentioned about it being bad because I've thought you would have gotten the virus (whatever the strain) in Idaho (or was in Oregan)?
     
  9. heartastack

    heartastack Well-Known Member Silver Stacker

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    Yes Idaho - Oregon was for weekend trips to the weed dispensaries at the border - 40 mins drive (miss those essential services...), and I certainly wasn’t being overly cautious on top of being surrounded by it (but being a single guy at that time I didn’t spend huge amounts of hours indoors with people except at work which was very corporate-covid strict). I had a few notable colds there and never got tested.. might have got the original strain in the early days without symptoms? The whole thing confuses me… I was back in Melbourne by the time Delta took off. Either way I keep reminding my friend that dodging it around the world only to get it from him on Xmas day makes him a special cnt! The two other mates living with him also got it but my GF who I spent the following 3 days with was fine.
     
    Last edited: Jan 11, 2022
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  10. alor

    alor Well-Known Member Silver Stacker

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    mining bitcoin, no way
     
  11. TreasureHunter

    TreasureHunter Well-Known Member

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    So, you believe it could drop below 30 k. I also think it MIGHT go as low as 10 k.

    Picking the bottom is almost impossible. But I think what we are seeing now is just a bounce. It is going to test the 30 k level soon.

    The bottom might be lower or somewhere there. After the bottom is reached, the sideways trading might not take long. And this market is faster than the PM market, so I expect it to climb steeply next time.

    So, you need to be lucky and have nerves for picking the bottom.
     
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  12. heartastack

    heartastack Well-Known Member Silver Stacker

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    The only thing picking bottoms is good for is getting smelly fingers...
    The pattern will just be short squeeze -> dump -> short squeeze -> dump etc until the market is sufficiently deleveraged and gamblers are burned out. Then fundamentals should take over again. It's still a multi-year process.
     
  13. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Yep onto bigger and better things now. That was fun while it lasted.
     
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  14. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Same thoughts as me, I might buy some crypto linked stock like coinbase if the price of bitcoin falls to 10k. Have to do some research on what other stocks. Microstrategy?

    Nerves are not needed, just patience. Same like platinum, need patience....
     
  15. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    The incoming death cross for btc looks ugly and no strength.
     
  16. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    History repeating?

     
  17. TreasureHunter

    TreasureHunter Well-Known Member

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    If it goes to 10 k, I think it will not take many years until it slams through 100 k. People have already gotten used to the oscillations, so I think it might bounce back up faster than we think.

    10 k will probably not last for long. There are too many players in the game right now and the adoption rate has accelerated.

    This is not 2014.
     
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  18. heartastack

    heartastack Well-Known Member Silver Stacker

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    This kind of speculation requires Bitcoin to hold the throne as it always has. I'm curious this year to see how the market cap of competitor alts go as a % to BTC, and it should become clear this cycle what kind of alts will survive or not. I think the risk to BTC is that alts could erode the % dominance by alts optimising and filling niches in the market, so the total crypto market cap keeps climbing but for BTC it becomes death by 1000 cuts - or BTC settles into it's own niche which doesn't fuel explosive growth. OR the demand for a digitised sound money overwhelms the market in favour of BTC.

    I see a lot of cognitive dissonance and confirmation bias on this forum by members who think they have sophisticated knowledge of crypto that transcends traditional market wisdom. And whilst I agree many of the successful crypto investors here do understand the mechanics better than most, it is still within an insulated 'bubble'. Look at Raoul Pal, a mega-rich crypto socialite with his fingers in just about every pie. And he made some of the most tragically stupid calls in December '21. ETH should be 10k this week and 50k plus 'the flippening' happening right now. He should be hiding in shame for this nonsense, but no he fronts up to his YouTube audience pushing NFT's for $4k a pop and looks as drunk on excitement as he ever has been. And he's probably got it in the bag again, because all we will hear soon is how those early-bird adopters made absurd sums of money flipping them. Ignoring the fact that plenty of Mum & Pop investors just threw little Johnny's college funds into ETH based on one of his YouTube videos.

    Given the unpredictability and volatility of today's markets, it just pays to be diversified. Buffett's advice of having just a few investments that you understand completely might not be the ultimate strategy for these times, where markets just don't make sense and the leverage is insane. Just have your surfboard ready for whichever wave starts to swell.

    This is beer talking.
     
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  19. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    Beer making good sense there.
     
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  20. heartastack

    heartastack Well-Known Member Silver Stacker

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    Saison Dupont 075.jpg
     
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