Bitcoin

Bonsai Nut said:
I set the school record at my graduate school making markets in FOREX - US dollar versus the Yen. That's why I don't touch bitcoin :)
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So what would be your expertise on the current price usd/yen, drop back to 108?
 
Djtommy said:
So what would be your expertise on the current price usd/yen, drop back to 108?
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I haven't followed it heavily in several years. I actually had a FOREX account for personal trading until the financial crisis - at which point I pulled out all my money because there was just too much action by the central banks to be able to guess what they were going to do next. Also... to trade FOREX means you can't leave your keyboard. I didn't want it to be a full-time job. Now I am a long-term value investor... much easier on the stress level.

As far as a quick glance at the Yen goes, I think both the US and Japan want to keep it at 110. I wouldn't expect it to trade below 105 or above 115 in the next year unless something shocking were to happen - like the Fed announcing a surprise rate increase that shocks the markets, etc. We'll see if I'm right :)
 
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Waking up to BTC at 6250 to the USD. 20% increment in the last 4 weeks.
Over 50% in the last 6 weeks.
 
Bonsai Nut said:
24 Hour Bitcoin Unit Trading Volume: 58,813
Total Bitcoins in Circulation (as of today): 17,679,400
Daily Trading Volume %: 0.33%
24 hour price appreciation: 6.7%

LOL! You have an asset that trades 0.33% volume and it swings the value by 6.7%?
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Where did you get those figures? Perhaps for one platform?
If I look at coingecko, I get:

19B USD trading volume, at a total market of 112B. That is about 17% trading volume. Do I miscalculate?
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Djtommy said:
dont get to greedy, maybe you can partial out
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Na, I invested less than I netted in the big run 2 years ago. Now I am in to see where the top floor is.
Dead cat still bouncing btw. 1btc = $9,559 :

248223
 
It's amazing what a trade war with China will do :) It's all about capital flight... and Yuan leaving the country.

www.forbes.com

Bitcoin Is All About Chinese Capital Flight

As liquidity sources for Chinese citizens to respond to potential devaluation in the yuan.
www.forbes.com www.forbes.com

Better hope the Chinese politicians don't drop the hammer on it. They have threatened in the past, and every time they do the price drops 20%. Check out this chart - 12 month Bitcoin/Yuan. Up like 300% in the last six months.

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It will be very interesting to see how bitcoin responds to the Trump/Xi meeting at the G20 summit this week. If they announce positive news, expect the price to fall. If the meeting is contentious, with no agreement in sight, expect bitcoin to hit new record highs.
 
My $75 purchase of bitcoin for fun in August 2016 is sitting at $1470. Could be $14 tomorrow.
 
Bonsai Nut said:
how bitcoin responds to the Trump/Xi meeting at the G20 summit this week.
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Personally, I doubt the summit will influence it. I have not been able to find a link between what happens to the prices and news in the world. Explanations for the upward swing range from big investment banks starting to play to a new fear of missing out developing. I suspect we are in for a correction soon again though. So far, the growth has been less up-up-up than in the 2017/2018 cycle.

But considering I got back in at around 4K and have been in most of the run (I think I missed one 200 usd jump), I am not unhappy. I think I will play the sitting duck game to see how far this goes.

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Brian Van Fleet said:
My $75 purchase of bitcoin for fun in August 2016 is sitting at $1470. Could be $14 tomorrow.
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I'll buy it off you for 150. That is a 100% guaranteed win against your investment! Better than loosing most of it tomorrow when it hits 14? :)
 
Going with the flow. Decided to not look too often and hope it does not evaporate. For now, back up again. Tomorrow down?

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