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Bitcoin is down ~40% from its all time high in October 2021. It may still be in a bit of a bubble, but there's also an argument to be made that gone down enough
by cableshaft 5y ago
Bitcoin is down ~40% from its all time high in October 2021. It may still be in a bit of a bubble, but there's also an argument to be made that gone down enough that it's now oversold (or nearing oversold territory). And when bitcoin goes down, it takes pretty much the rest of the crypto market with it, with very few exceptions. I personally don't think we're currently in a bubble for crypto.
The rest I do think are in a bubble and are probably overdue for a nice correction. I'm not sure what will trigger it, though. Maybe if/when the Fed raise the interest rates? I don't know if that'll be enough by itself, though.
- seaman1921 5y agoOversold implies there is some intrinsic value in the first place to set some baseline. This is just wishful thinking.
- azth 5y agoHedging against government induced inflation. Easy money transfer across borders without a 3rd party. Those are two pretty strong values.