Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
People just make believe bitcoin is whenever they get on the profitable side of a pump and dump.
Gold pumped from $400 to $1900, now down to $1255
Silver pumped from $16 to $50, now down to $16.50
Metals a reliable store of value, you say?
I bought silver at $30 so I am a total idiot and I was devastated as it dropped.
I just wish I'd thrown it all in bitcoin early 2013 instead of silver. We can all look back and say what if I guess....
On the plus side I was buying bitcoin up in the 200s and it's not turned out too bad.
Do not feel bad about that. To a certain degree, the metals $ price is irrelevant because if there is a monetary reset one day, metals pricing will end up orders of magnitude higher. Consider it long term insurance instead of an investment.
In 2013 I bought some bitcoin near the top before the last crash. After that I just continued to cost average down to about ~$500 or so. Now things are looking better. I actually bought a little bitcoin @$900 at the beginning of the year.
One lesson I learned is, buy the majority of a commodity or security when no one wants it and sentiment is in the toilet. Metals are pretty much close to that now. Bitcoin, not so much.
