/biz/ - Business & Finance

Dont's waste the next five years like you've spent the last 6months
its literally over

Bitcoin will look exactly like this silver chart.
Don't waste your life on this thing any longer anon
accept and move on

>>10025095
take a look at other commodities like silver for instance. usually it just trades inverse the dollar, but when things get crazy, a lot of money can flow into these precious metals. and pump it up to insane heights. once the greatest foll has bought in, it turns right back around, and everyone who bought it to store value or make money will sell at a loss. the people left with the bags then sit there for years until something changes in the market that causes people to want it.

i say silver is a good comparison, as unlike gold, which has useful applications in electronics and interesting properties like not corroding, silver kinda just looks pretty and has a tradition of being a "store of value".

but look what happened to silver spot price. silver didnt suddenly become 5x more valuable, just a lot of libertarians buying it at the same time in a panic. and then as it became clear that holding silver wasnt gonna yield 100x their money, everyone panic sold at the same time.

the difference HERE is that precious metals have a long standing rep as a store of value (even if its not as a very good one). BTC was something most of these normie speccs had never even thought of before. they jumped in w EVERYTHING and sold at the bottoms and lost EVERYTHING. they will not be coming back to save you. this market needs a new batch of greater fools, and the scars are too fresh to jump back in for them. people do not see it as a way t store value they see it as a way to get rich. and since its not going up anymore, the only reason people were holding it for the most part is now out the window

>>10015821
he right though.
take a look at other commodities like silver for instance. usually it just trades inverse the dollar, but when things get crazy, a lot of money can flow into these precious metals. and pump it up to insane heights. once the greatest foll has bought in, it turns right back around, and everyone who bought it to store value or make money will sell at a loss. the people left with the bags then sit there for years until something changes in the market that causes people to want it.

i say silver is a good comparison, as unlike gold, which has useful applications in electronics and interesting properties like not corroding, silver kinda just looks pretty and has a tradition of being a "store of value".

but look what happened to silver spot price. silver didnt suddenly become 5x more valuable, just a lot of libertarians buying it at the same time in a panic. and then as it became clear that holding silver wasnt gonna yield 100x their money, everyone panic sold at the same time.

the difference HERE is that precious metals have a long standing rep as a store of value (even if its not as a very good one). BTC was something most of these normie speccs had never even thought of before. they jumped in w EVERYTHING and sold at the bottoms and lost EVERYTHING. they will not be coming back to save you. this market needs a new batch of greater fools, and the scars are too fresh to jump back in for them. people do not see it as a way t store value they see it as a way to get rich. and since its not going up anymore, the only reason people were holding it for the most part is now out the window