We may be in the second half or later stages of a bull market

davids355

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Very interesting article from the glassnode newsletter. It's a week old but very good read still.

 

WarningExpert

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I always take these articles with a grain of salt as no one truly knows the market, but thank you for the share!!
 

ragnarson

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thx but it's almost impossible to predict market movements. Only time will tell who was right
 

davids355

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I always take these articles with a grain of salt as no one truly knows the market, but thank you for the share!!
thx but it's almost impossible to predict market movements. Only time will tell who was right

Yes I agree, its impossible to predict and as my dad always says; there will always (or at least often) be an event that occurs and one which nobody could have forseen. I've seen it personally before where people have seemingly bullet proof systems using trading bots and then guess what, something different happens and it all goes wrong.

Having said all of that, I still find this stuff very interesting and in particular, something I didn't really appreciate much until now is how much transparency there is when it comes to bitcoin and how much insight you can get into whats going on.
 

Raysor

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Yes I agree, its impossible to predict and as my dad always says; there will always (or at least often) be an event that occurs and one which nobody could have forseen. I've seen it personally before where people have seemingly bullet proof systems using trading bots and then guess what, something different happens and it all goes wrong.

Having said all of that, I still find this stuff very interesting and in particular, something I didn't really appreciate much until now is how much transparency there is when it comes to bitcoin and how much insight you can get into whats going on.
I always say, rightly or wrongly, that there are three things you need to get it right: insider dealing (illegal), knowledge and luck.
 

gopal1783

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Yes we are in bull market place. Except crypto everything is on its way...
 

blackbeans

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Make no mistake, bitcoin has taken a bit of a beating that’s why it fell from the sixty thousand range to flirting with the $30,000 price point-although it's recovering lately.


What people fail to realize is that there is a “hard limit” to how far bitcoin will drop. There is a serious problem with government fiat money.


You can see this playing out in the United States with all the stimulus money being pumped out. Remember that money is being sent directly to the public.


The US has always been playing games with its money but for the longest time, it was doing it through the equity and bond markets.


The phrase quantitative easing was based on that strategy and it worked because the money didn’t leak out to the general public.


Well, thanks to the pandemic, that is no longer the case. Now you see monthly inflation figures hitting almost five percent.


That’s unheard of because inflation in the United States and many places has been tamed for decades now. This is bad news.


If you want to get a good idea of how bad inflation can be, you only have to check out news videos of the US in the 1970s.


It was not pretty and was way worse in the developing world. So based on this reality, there is a hard limit to bitcoin because it has a hard cap.


There can only be 21 million bitcoins so this ensures its value. The only question is what the value will be.


Even with uncertainty it still stands as an awesome alternative to government-issued money. It would be great if the bull market materializes but I’m more of a pragmatic investor.


I focus more on the floor instead of the ceiling. If an asset that I own shoots up, that’s a nice bonus but I’m more concerned about how far it can go down and make my bets accordingly.


So far bitcoin hasn’t disappointed me.
 
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