Quote:
Originally Posted by dino7c
I haven't predicted the exact numbers but I have called nearly every major spike in the last 7 years and it wasn't based on spinning a wheel or flipping a coin. When the demand is high and the supply is squeezed it goes up. As more and more of the limited supply is acquired by "stronger hands" the likelihood of a total collapse goes down considerably. BTC started in 2009, if it's a scam or a scheme its a pretty long play. I'm old enough to remember the .com crash and when this whole internet fad was done because the entire world aren't just going to become computer nerds and do all their shopping and conversing online...
Remember we are talking 21M limited supply but some are lost and unrecoverable so it is even less than that, the demand is obvious. These ETFs are taking in BILLIONS.
|
all of this is true but it is still based only on the predictability of the customer base, essentially you are betting on the movement of the crowd
I dropped a mint on the guys that make Ozempic and am making a fortune, I also know it's time limited but my bet was based on the fact they have a viable weight loss drug and cannot make enough of it, the company is raking in money hand over fist, because of that I also know the market has jumped in but it is predicated on a thing, the drug.
BTC is predicated on there just being a crowd of buyers, guys like you that have a hunch, followed by a bigger crowd of greedy lemmings, nothing else, historically this is a bubble and all bubbles have burst historically, maybe BTC is different but if so it will be the first time.
I will say if I was in my 30's I'd probably buy some but BTC is a bad bet for anyone over 50