The Student Room Group

Bitcoin at an all time high. When we hitting $100k?

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when i finish this bowl of pasta
Should've bought some in May. I'm an idiot.
Haha true. I'm always scared to buy as idk how to predict the market and complain about not buying when it goes up.
Probably a day before we hit $1
ETH hitting $10k first
Land, mainly.
Based on its volatility you may as well just play the lottery. Which also pays you liquid funds as opposed to crypto which is not actually that widely accepted for buying anything of value as long term investments that you might want to channel that value into...
(edited 2 years ago)
RC probably does mean with property on it ..alhough even without its hardly unusual. Most of the colleges at Cambridge and Oxford own a lot of land (both residential and otherwise) as part of their endowments...because it's a non-volatile long term investment (unlike crypto which implodes every other month) to grow their endowments...
Typical crypto nonsense response :rolleyes:
(edited 2 years ago)
it will end in tears

:yep:
If it follows the previous cycle, it could hit 100K by December before a mass sell off in February some time. The ETF news is the reason for the latest pump. I suspect there will be less selling pressure come February this time though. Last time it was lots of inexperienced investors YOLO'ing in late 2017. This time, people know what happens if you hold, and everyone who purchased BTC between 2017-2019 has seen anywhere between 3-20X gains. I don't think there will be much selling when the potential for that to repeat in 2.5 years is on the cards (halving hype always begins just before the actual halving).
Bitcoin is insanely volatile, but fundamentally works on same principles as any other currency does. Albeit, it is not regulated, hence it's volatility.

A currency's fluctuations in value broadly depend on the strength of the economy it represents. As the economy grows, the value/purchasing power of its currency does too.

So, what about the black market? All the trade that happens, either illicitly and in direct breach of laws, or just outside of the scope of those laws but not technically illegal?

I believe the rise in value of all these currencies like Bitcoin and other cryptocurrencies, in some way represents the value of these 'hidden markets' and hidden economies. It's difficult to prove, because these markets aren't subject to the same monitoring and measurement by our governments.

There's a slight irony in it, that I know some fairly left-leaning people who are into bitcoin and such things, because they apparently are against our current economic systems, and generally advocate for more government control of private enterprise, whilst simultaneously buying into currencies that represent the most 'free market' type economy that has ever existed on such a scale. It doesn't sound like all their cogs are spinning the same direction.
sigh i am so jealous of your magic beans :h:
Original post by NonIndigenous
Bitcoin is insanely volatile, but fundamentally works on same principles as any other currency does. Albeit, it is not regulated, hence it's volatility.

A currency's fluctuations in value broadly depend on the strength of the economy it represents. As the economy grows, the value/purchasing power of its currency does too.

So, what about the black market? All the trade that happens, either illicitly and in direct breach of laws, or just outside of the scope of those laws but not technically illegal?

I believe the rise in value of all these currencies like Bitcoin and other cryptocurrencies, in some way represents the value of these 'hidden markets' and hidden economies. It's difficult to prove, because these markets aren't subject to the same monitoring and measurement by our governments.

There's a slight irony in it, that I know some fairly left-leaning people who are into bitcoin and such things, because they apparently are against our current economic systems, and generally advocate for more government control of private enterprise, whilst simultaneously buying into currencies that represent the most 'free market' type economy that has ever existed on such a scale. It doesn't sound like all their cogs are spinning the same direction.

Bitcoin itself has become more of a "store of value" than a currency. Of course, an asset can (as has been the case historically with Gold) fulfil both purposes. Bitcoin becomes more rare (approximately) every 10 minutes. Satoshi himself even admitted when he was still active that it is quite probable for Bitcoin to be seen as a "store of value". It is essentially electronic Gold, with the rarity causing the demand/valuation.

For black market purposes, Bitcoin is actually quite a poor choice. It's slow to transact, and only pseudo-anonymous. All of the transactions are public. Black markets now commonly use a privacy focused cryptocurrency like Monero which has untraceable transactions. Only the sender and recipient can see the transaction.
Reply 15
Really?

Like you think Antarctica isn't owned by anyone?
Hard to say. I first expect a new ATH but what that number is is anyone's guess. It will be suffiicient to take out any stop losses placed above the old ATH though before we will see another correction. I think it will hit 100k but I just couldn't say when.
Reply 17
Original post by rayshow053
When I first heard about cryptocurrency I was not interested because my mindset was what changes will it bring to the world but when I began to carry out some deep research of what it’s all about i was more than interested because the opportunities it presents is very wide and can equally make someone wealthy. I read several posts and equally got to know about trad’ing and some exchanges that I can equally get this done. I started to buy some bitcoin early 2018 because the market outburst in December 2017 was more than enough for me to have a belief that yes cryptocurrency is here to stay.

Have you bought anything with it?
Original post by sebking1109
Hard to say. I first expect a new ATH but what that number is is anyone's guess. It will be suffiicient to take out any stop losses placed above the old ATH though before we will see another correction. I think it will hit 100k but I just couldn't say when.

Surely by end of year it will hit $100,000!
$100k? Probably not this year.

My guess is closer to March or April.

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