OOF BTC, insert reason here...! Then start stacking more!
Well that's not pretty...
HBD at $0.85 and Hive at $0.15, but then you check the BTC price and, oh, it's just following BTC....
And then the analysis as to the reasons....
Imminent wider war in the Middle East... Israel to go hard on Lebanon and then Iran to attack Israel....
So that means a shock to the world economy, possible recession and so a RISK OFF approach to investment.
The FTSE 100 is DOWN hugely as well already and it's only Monday morning as I write this, I guess BTC can just react earlier, and obvs harder because it is one of the assets investors regard as riskier....
Another apparent cause is the hype bubble on AI bursting, I actually wrote about that, kind of the other day, in relation to Windows PCs.
Perhaps people are beginning to realise that AI is useful but we've already been living with the benefits for a decade (basically search, mapping and translating algorithms and some other bits and bobs) and everything projected in the future is just refining that, rather than AI being anything truly groundbreaking....
What to do.... buy more Bitcoin...!
So we're facing another possible economic down turn, possibly restrictions on goods that are routed through the middle east, that'll probably be inflationary, wars are generally inflationary anyway.
So possibly a lot of these BTC liquidations are due to people thinking short term gains and buying assets that are going to go up in price in the short term (Oil?).
But overall, I see these sells as a good opportunity to pick up a little more BTC.....
Note that we'll feel that here in the UK, and the entire next five year's economic policy is based on NO SHOCKS which was always patently ridiculous, and that's gonna be mean the pound being worth less, people and companies struggling to get by.
And all the while BTC remains scarce and not only that a great way of moving assets about independent of these crazy nation state war machines.
As usual, news about BTC comes in and the not financial advice is do not panic, and if you can, start stacking!
It'll be back up above $70K at some point in the future, probably!
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HBD is still standing $1. And you have to wait for HIVE for $0.06 before HBD becomes cheaper than $1. But for $0.06 I'll probably buy HIVE.
Hopefully there will be a bit of demand before it hits that point!
I think it will eventually climb back up to 70K. I took the opportunity to invest a bit more into Hive. I’m confident it will go back up, but if it doesn’t, I didn’t invest anything I couldn’t afford to lose.
That's the key thing there@ don't remortgage yr house@
I've thought about it before, and naturally, I remember the times when I would have won and been set for life. But I know for sure that if I ever remortgage my house to make this bet, I'd end up losing everything.
Probably for me too, I'm not that risk-on, not by a long way!