You can speak for yourself about that. I wouldn't be ballsy enough to bet the ranch on bitcoin popping back up to its last ATH within 3-5 years (though it certainly could happen, and I hope it does).
really? in trading, it usually pays to keep betting the trend. betting against the trend, on the other hand, is usually a dangerous proposition. that doesn't imply anyone should bet the farm on it, but IMO it's a good bet.
There seems to be a mood in the stock market that I can't quite put into words, but if I had to choose one it'd be "pessimism".
that's one of the reasons it's not that bearish, and why we've already seen a 6% gain from the lows last week. sentiment is overly pessimistic, commentators and emotional traders shaken out of their longs have been screaming to short the market. based on what? initial reports that the economic growth
might be slowing down? both the economic data and lack of bearish momentum in this drop imply that early bears will be punished.
i also think bitcoin and gold
are direct competitors. sure, bitcoin doesn't compete with gold in industrial usage, but the vast majority of the gold market is store of value.