RE: SegNOT2x - Bitcoin Is Basically A Shit-Coin Like Bitconnect Now - (I Told You They Were Liars)
I'm pretty much with you Lexi, but I think it best to not attempt to label crypto markets as rational ones. It's even possible to defend bitcoin from the stance that it's name gives it it's power.
It's probably another case of strong branding, do I believe the McD's has the best burgers, not really, but everybody goes to the clown and recognizes the arches.
One day of course this could change, and its impossible to know when it would, but one thing I do find interesting when comparing Bitcoin's quirks to those of the .com era is that when the tech bubble exploded we were in the vicinity of 33 trillion. So, there might still be quite a bit of runway before the first castles start to fall.
Maybe.... or maybe Tomorrow we will wake up to people burning their laptops on their grills smoking oregano laced with cyanide.
"I think it best to not attempt to label crypto markets as rational ones."
You'll certainly get no argument from me there. I'm pretty sure I make this clear most of the time:
"There's no way to reliably predict short-term price movement. Bitcoin could continue to go straight up, in either real or nominal terms."
Obviously, if you took my anti-Segwit advice 3 months ago, dumped BTC and bought Bitcoin Cash (or something?), you're probably not looking all that great.
Investing in this market currently is to be done not on fundamentals or logic, but on hype.
"when the tech bubble exploded "
I don't expect crypto to go down the same way. I wouldn't be surprised to see single coins go down, even BTC, with rapid market recoveries after.
With the Tech Stocks, that money could easily go to a bank stock or something. Does crypto money really want to go back to fiat? I think a lot of it is going to want to stay in crypto, for tax or ideological reasons.
We'll see!
Thanks for the rapid (and best so far) comment.
You do know that markets are oblige to the law
To inform the share holder to sell their stocks and get paid
within months.
But i think buying bitcoin right now is the worst idea because of the sudden boost in price!
however the events that you proposed are funny
#meno: tomorrow we will wake up to people burning their laptops on their grills smoking oregano laced with cyanide.