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21
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Economy / Economics / Re: After 1 year of Covid 19 Virus
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on: March 29, 2021, 03:03:53 PM
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in fact the past year (2020) was a terrible year, we are more than a year of pandemic and lockdown and things do not seem to improve at all, of course the vaccines have arrived but are they really safe? then for vaccinated people almost nothing changes they must continue to wear the mask and do the lockdown because they could be equally contagious
Even they already take the vaccine that didn't exempt them, Covid can still penetrate and hit them if they put down their guard, this virus is really hunting everyone, It's needed to have a much careful lifestyle, every health protocols should continue it's not you alone that you are protecting but also those people who are encircling you in your everyday life. COVID-19, Coronavirus has been good for bitcoin and a lot of cryptocurrencies because during Coronavirus lockdown many people are looking for investment opportunities and they found bitcoin. So, Coronavirus lockdown has opened eyes to many people to invest in bitcoin and other cryptocurrencies. The current bitcoin bull market started in the mid-2020 at the middle of the coronavirus lookdown and still, the bull market is much alive. |
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22
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Economy / Economics / Re: You want to make money with Bitcoin ? Here is a Tip ...Psy...
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on: March 29, 2021, 02:39:44 PM
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I think the best way to make money with bitcoin is by investing in bitcoin for some period of time 3-4 years minimum. Also, you may buy the dip and sell high just like many bitcoin traders do. I always prefer HODLing bitcoin for a long period of time because that way you will make a huge amount of profits. Bitcoin mining, gambling are ways to make money with bitcoin as well, if you are interested. For me, I always prefer bitcoin mining than gambling because bitcoin mining has more guarantees.
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23
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Economy / Economics / Re: Im big fan of stable coins and this is what I think
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on: March 29, 2021, 01:51:05 PM
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For me, I'm not a big fan of stablecoins because they are dollar-pegged coins. I don't think the government will ever support any of the available Stablecoins because the government wants total control over its own cryptocurrency. Unless if they can fork one of the available stablecoins based on certain agreements. I'll only use the stablecoin to get out of the market when I feel like the market is not looking healthy.
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24
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Economy / Economics / Re: Did tesla's $1.5 billion bitcoin purchase negatively affect their stock price
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on: March 29, 2021, 12:07:43 PM
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There's no guarantee an over-pried stock like Tesla will recover from the mania-induced highs. Tesla is worth more than Ford, Honda, BMW, GM, Daimler, Volkswagen, and Toyota combined and yet produced a tiny, tiny fraction of the cars. Tesla's revenues was about 30 billion last year while the revenue of the other 7 car makers was 1.1 trillion. There's absolutely no way Tesla is worth this price, or will ever grow into this valuation. It's still priced like it will be the only EV producer forever.
As of now, Tesla is having a virtual monopoly in the mid-range and high-range EV sector and that explains the high valuation. There is no doubt that a P/E of more than 1,000 looks hyperinflated. Even during the dot com boom during the late 90s, most of the tech stocks had a P/E ratio of lower than this. But those who invest in Tesla believe that EV sector will replace gasoline-run vehicles in the near future. As per their expectations, Tesla revenues are going to jump by 10x-20x during the next 10 years (if I am not wrong, then they had ~80% growth in 2020). No way. What was actually happening to Tesla stock was the normal market correction after the price pump. If you look at the Tesla stock price chart for the last 6 months you may notice a huge uptrend so why bother with the little downtrend? just because they invested in bitcoin? That's is a bad call. Even before Tesla invested in Bitcoin they have uptrends and downtrends, so what do you expect? you expect Tesla stocks to go up all the time just because they invested in bitcoin? Oh, come on, you need to think again. the stock market doesn't work like that. |
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25
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Economy / Economics / Re: How do you explain NFT to a 5 years old child?
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on: March 29, 2021, 11:57:42 AM
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The best to explain NFT to a 5-years old kid is by explaining what is blockchain technology is. Once the kid has a good understanding of blockchain technology then you may give him/her an example of blockchain applications and how they work in different fields. I think the first example you should give to the kid is how bitcoin is transforming money using blockchain. After that, you may jump to Ethereum and smart-contracts, the kid must have a good understanding of smart contracts as well. Then, you may introduce the kid to Non-Fungible Token "NFT" and how digital arts are minted on the blockchain with a unique identity and limited supply.
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26
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Economy / Economics / Re: Nigerian Banks To Close Accounts Involved with Crypto
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on: March 29, 2021, 11:41:45 AM
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Yes, it's old news already. The government is changing its position towards bitcoin. Recently they said bitcoin trading wasn't banned in the country, just banks aren't allowed to keep accounts from customers who are traders. The statement is ridiculous, but it's the first step in order to change their opinion without saying they were wrong at first point.
I don't care much about the policy flip-flop as long as Bitcoin benefits in the end. Anyway, congratulations to the Nigeria government, for realizing that they need to adopt a more friendlier approach towards cryptocurrency. I just hope that the idiots in my country (India) understands this. The problem in many of the third world countries is that the governments depend too much on bureaucrats to make policies on sectors where they don't have enough knowledge. And that is the reason why they sometimes come up with stupid laws such as this one. If that is the case in Nigeria, I think Nigerian people should look for alternative options such as peer-to-peer marketplaces e.g. Paxful, LocalBitcoins, Binance P2P, OKEx P2P, and other places to buy and sell cryptocurrency. The Nigerian government is ordering all the banks to stop dealing with cryptocurrency. I believe that is not a ban but a sanction from the central bank which instead they should regulate the cryptocurrency. |
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28
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Economy / Speculation / Re: Damn, I should've bought bitcoin earlier!
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on: March 28, 2021, 04:32:07 PM
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Damn I should have bought more  Almost cried when I saw the bitcoin price at $61,000 last week myself because I invested my money heavily in agriculture and the wet season last year 2020 was really bad for us as farmers. the rainy season left us in early October where both cotton and beans really need the rainfall. hard luck for us  I failed to stay FOCUS on the bitcoin market and look closely at the bitcoin cycles. I made a huge mistake in 2020 |
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Economy / Speculation / Re: I have a relatives who ask advise to invest, what should I do?
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on: March 28, 2021, 02:55:32 PM
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I think the best advice that you should give here to him or her should in bitcoin for the long-term because the cryptocurrency market is unpredictable. Investing in cryptocurrency for the short-term doesn't pay off most of the time. thus, investing in bitcoin for the long-term is the best idea. Also, he or she should go and learn a bit about bitcoin and the cryptocurrency ecosystem, how bitcoin works, and also how to store bitcoin securely.
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32
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Economy / Speculation / Re: Buy every dip, and HODL!
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on: March 28, 2021, 02:47:05 PM
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Indeed, this is one of the best and oldest bitcoin buying strategies, buy every dip and keep HODLing! it is a very smart investment strategy done by a lot of traders and HODLers as well. If you are looking for profits in bitcoin you cannot just buy bitcoin all the time because sometimes the market is up and sometimes the market is down. so the best way to invest is by buying bitcoin when the market is down, that is what is called "buy the dip"!
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34
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Economy / Speculation / Re: Bitcoin back to $ 10,000?
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on: March 28, 2021, 02:17:46 PM
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Here is ATL each year from 2012-2020 Year Price 2012 $4.00 2013 $65.00 2014 $200.00 2015 $185.00 2016 $365.00 2017 $780.00 2018 $3,200.00 2019 $3,400.00 2020 $3,780.00 2021  I have two predictions... 2021 $7,786.00 <----- average of ATL since 2014  2021 $14,477.40 <----- average of ATL since 2012  You stole that prediction out of my brain! How did you do that? Well simple formula sum of (average of ATL change from 2012-2020) x ATL of 2020 = $14,477.40 sum of (average of ATL change from 2014-2020) x ATL of 2020 = $7,786.00 Why two? well $4 to $65 is a hell of a jump 1625% I will definitely consider the 2nd prediction because it makes more sense to me: 2021 $14,477.40 <--- an average of ATL since 2012. even though I don't actually believe the 2nd prediction will happen in 2021. Perhaps, the year 2022 is more likely to happen. This year 2021, the bitcoin market is still bullish and it doesn't seem like the bitcoin bullish market is going to stop any time soon due to huge "COVID-19 Stimulus Packages" from the government |
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35
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Economy / Speculation / Re: 1 Millioin Bitcoin Strategy
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on: March 28, 2021, 01:58:27 PM
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I think the best million-dollar bitcoin strategy is HODLING! Lots of early bitcoin HODLers are now millionaires, some of them are even billionaires. why? because they are true believers of bitcoin. Being a bitcoin HODLer has a huge responsibility, the HODLing, the waiting, and turning the blind eye on the market regardless of the conditions. God! It's not easy unless you have developed a very strong mindset and also, have other streams of income.
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36
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Economy / Speculation / Re: Cash out or HODL - Bitcoin?
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on: March 28, 2021, 01:24:21 PM
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The year 2021 is a bullish year for the bitcoin and cryptocurrency market. I think it is a very good idea to HODL your bitcoin until the end of the year to see the outcome. Although many people are thinking bitcoin market will start crashing by May, just like what happened in 2018 where the entire cryptocurrency market started crashing in May 2018 but that is just bullocks and nothing more. Perhaps, we might see the bitcoin price reaching $100,000 by the end of the years. I'm so BULLISH on bitcoin!
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38
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Economy / Speculation / Re: The reasons why Bitcoin price drops recently
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on: March 28, 2021, 12:57:54 PM
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Agreed, but I think the bitcoin price was recently dropped due to the market correction. the bitcoin price doesn't always go up, somethings it goes down. If you study the bitcoin or cryptocurrency market in general you would notice the market usually goes up and down from time to time. For me, I see nothing wrong with the bitcoin market going up and down all the time because that is how the market should work as it can't up or down all the time.
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39
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Economy / Speculation / Re: Understanding Bitcoin price as a beginner
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on: March 28, 2021, 12:26:49 PM
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Just 3 days back bitcoin was standing firmly on 60k and right now its falling badly. Price now is 51k. Bitcoin has one of the most volatile pricing model that almost impossible to predict. We may think that its end of bull run while bitcoin may be at 60k in next 2 days. You never know.
Zoom out... see the bigger picture... Don’t trade the 1m charts Trade the 1D or higher charts Or buy&HODL This will show you the pattern... https://www.lookintobitcoin.com/charts/stock-to-flow-model/You may start trading with at least a 4h chart since that is what is so many Scalp traders are doing. I suggest a 4-hour chart minimum to study the market conditions to see whether the market is going up or down. Once you fully understand the conditions then you may decide what to do, long or short. Also, I think the major factor that is driving the bitcoin market uptrend right now is scarcity. And with enough scarcity, we might see another bitcoin ATH. |
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40
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Economy / Speculation / Re: Bitcoin going down $50k soon, what's next?
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on: March 28, 2021, 12:06:26 PM
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Nothing will happen if bitcoin price falls below $50,000 because the bitcoin price will recover very soon since the American government will start giving out the Stimulus checks of $1.9 trillion dollars in the next month of April 2021. I think what you have seen was the normal market behavior, the market is used to go up and down and that's normal because there is nothing wrong with it. You need to remember the bitcoin price will always recover!
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