IT BEGINS !!
- Thread starter SilverSale
- Start date
The hard part is deciding whether to buy the metals dip or chase the BTC dragon...
metalzzz
Well-Known Member
I was looking at this yesterday and it makes no sense for it to decline. Not trending anywhere on social media or google search and institutions are buying more than the daily mined supply for at least the next two weeks. I don’t particularly trust google or Twitter with being genuine with trending subjects (especially with BTC). Dorsey could hold off a lot of new buying by suppressing trends likewise with google.
nicotineandcaffeine
Active Member
Open interest in gold and bitcoin contracts is suggestive of money that might have gone to gold instead going to bitcoin.
Personally seeing the value of my crypto recently flipping greater than my metals suggests the same: crypto taking metal's market share.
I haven't had a bigger laugh in the two years I've been on the forum. Thanks for making my Sunday morning!
nicotineandcaffeine
Active Member
You're welcome.
I can't say I'm as confident in metals as I once was. Normally this is the week I would buy but the opportunity cost of holding metals is too high.
I can't say I'm as confident in metals as I once was. Normally this is the week I would buy but the opportunity cost of holding metals is too high.
It's all about diversification. If your entire portfolio is physical metals then you've just tied yourself to a literal boat anchor. If you're looking for safe harbour, there's no lost opportunity in metals.
nicotineandcaffeine
Active Member
Are metals really a safe harbour? This type of asset inflation is usually followed by deflation.
Will btc cross 20k tonight? I'll be dreaming of what happy dance I will do.
You got skin in the game?
It's looking like it wants to. If not tonite, then this week.
I have been asking myself the same question about how I will mark the occasion but it's more about what substance to abuse than what dance....but I won't rule out the possibility I will break out into some kind of spontaneous jig
All of it, hopefully. If it breaks 20K it's unlikely to immediately reverse. More likely it will take the broken resistance at 20K as an uber-bullish signal and shoot straight up to 22K.
What I am looking for is the 2021 equivalent of crypto-kitties. That was my signal of obvious market mania in late 2017....but at the moment we barely even hear a peep out of the MSM about BTC so it seems like it's possibly still mid-cycle to me.
What I am looking for is the 2021 equivalent of crypto-kitties. That was my signal of obvious market mania in late 2017....but at the moment we barely even hear a peep out of the MSM about BTC so it seems like it's possibly still mid-cycle to me.
Nope. It's a sideshow that I don't believe has really fed into the BTC rally. Most alt-coins are still way down on the previous peak and if DeFi was going to be the driver of the next mania cycle then I'd expect the ETH price to be leading the charge, not BTC