Australia's largest stock trading and investment forum Australia's #1 stock forum

I do agree with a lot of that psycology and it has had its 50%...

First 699 Last

Share
Profile

Follow
Bruno81

2,412 Posts.

225

08/12/19

20:13

Post #: 41859100
Share

Originally posted by verce ↑

This would suggest to me that we are closer to the bottom than people realise. Everyone thinks it is going to plunge further and is now waiting on the sidelines, which is when the opposite tends to happen.

We’re seeing media headlines aplenty about how “it may never recover” and Bitcoin having “no unique value,” a refrain repeated during every Bitcoin downturn. The boom/bust cycle is simply part of the natural adoption process.

When a very scarce fungible asset faces increasing demand over the years, its price will rise over repeated phases of accumulation and redistribution. There is also a supply shock coming in the form of a halving around April 2020, which will see less supply and more demand. The % inflation rate of BTC at that point will actually be below the inflation rate of most developed economies. Food for thought.

Expand

I do agree with a lot of that psycology and it has had its 50% pullback from its high, but if it goes back up I don't think it would be straight back up. It should trend sideways for a bit then start heading up and I'll get back in then, still bullish on the whole crypto thing but been burnt too many times on stocks riding them all the way down, I do think 2020 could be big for crypto but will it be the first or second half.
1 Upvote

Reply

There are more pages in this discussion • 2,481 more messages in this thread...

First 699 Last