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Note that it hit a new all-time high last night, but it's been in the ~$70ks since last March. The election results may have pushed it over the top, but it's be
by karaterobot 2y ago
Note that it hit a new all-time high last night, but it's been in the ~$70ks since last March. The election results may have pushed it over the top, but it's been way up for a while.
The people who predicted it would collapse appear to have been wrong, and the people who predicted it would come back appear to be right. My own position was that it's so volatile that it will always be a roller coaster, which is why I don't invest in it anymore. I'm sure it'll crash again, and come back again, and I don't like drama when it comes to my money. But to me, this is more evidence against the Ponzi scheme narrative, which was always a lazy description that didn't match the history of the coin. BTC is something else entirely. Still scary to me, but something else.
- paulpauper 2y agoIt cannot even get to $100k despite endless predictions over the past 5+ years it would. Each cycle is getting subsequently smaller. If anything, it's reached the final stage in which the supply of new buyers to prop up the price, let alone new highs, is exhausted.
- tim333 2y agoGive it time. They've only recently launched the ETFs.
- rrrrrrrrrrrryan 2y agoI suspect it's going to become increasingly normalized for people to put some fraction of their retirement accounts (perhaps 3% - 10%) into crypto, now that there are ETFs. I'm not saying the supply of new money won't eventually get exhausted, but there's still a ton of untapped boomer wealth out there that has yet to flow in.
- karmakurtisaani 2y agoSo cryptos are rediscovering pension funds? Younger people financing retirement of older people.
- npoc 2y agoNo the open-minded young see the potential, buy the asset while it's cheap and the slow pension funds in the legacy financial system eventually catch on and buy in with much larger quantities, pumping the value as they do so. The boomers' pensions will effectively fund the pensions of the young who will be living off the 0.1BTC that they bought at $3000 but which is later worth $1M by the time they retire.
- npoc 2y agoThis comment won't age well.
- hshshshshsh 2y agoYour entire personality and idea of you is also a ponzy scheme. Does that make your life any less real ? Here you are pretending to be a somebody commenting so seriously on why Bitcoin is a ponzi scheme. Also go and short Bitcoin if you believe it is a ponzi scheme.
- karaterobot 2y agoEven though your reply contradicts itself, you've given me much to think about today.
- deleted 2y ago[deleted]
- hshshshshsh 2y agoI would love to know what you come up with after the thinking :)
- olalonde 2y agoParent said that Bitcoin is not a ponzi scheme: "more evidence against the Ponzi scheme narrative".
- hshshshshsh 2y agoAhhh. I missed that. Thanks for correcting.
- olalonde 2y agoNitpick but it was mostly in the ~$60ks.