ChartBuddy is about to post a $43K! I’m impressed with how fast the market recovered. All thanks be to the Fed it seems as they signaled rate cuts are in the near future and analysts are saying that they nailed a soft landing. I think it might be a little early to declare victory on the economy but I’ll take the stock market and Bitcoin gains.
Well stock market (and perhaps properties and other non-bitcoin places that people store their value) is probably going to end up more or less matching cost of living increases, so I doubt that you can really call such things gains (in real terms), which is similar to some of the claims that some of us had about investing into US Govt IBonds, and sure the nominal "gains" look somewhat decent compared to a bank account, or cash under the mattress, but in the whole scheme of things, none of these things are really as correlated to bitcoin as the innuendos like to suggest.... and there is importance when it comes to magnitude...
Sure, keep some money in stocks, bonds, properties and commodities, but where is the likely performance? Many of us here know the answer and many of us know it is both not guaranteed, but at the same time, there is a bit of an insult to be comparing them as if they were the same thing.
There may well be some stocks that outperform others and maybe even come close to beating or exceeding bitcoin in their performance, but this is not going to be any kind of likely general observation that is going to apply to stock indexes. Yeah, I have some stocks and indexes, but I question how much time I want to be trying to figure out which stocks might be the better performance or having to invest into the property that is going to hold value more than other properties.. including the liquidity issues and maintenance costs.. and yeah if I am living there. and/or already have good tenants lined up then maybe there can be ways that some of these properties are not as burdensome.. and we have to live somewhere and spend time in some places.. nothing wrong with relationships.
But what does it mean?
She looks like fun and all of that, yet it doesn't look good in terms of symbolism... .. unless we just interpret the movements as temporarily bouncing around at what seems to be a temporary top, that may well not end up being a top.. so then where would that take us?
I am not going to say that I know.. and maybe you are leading me into having to start to solidify myself more in terms of proclaiming $35k to $55k to be our new "don't wake me up zone".. whether we call it a top, some kind of reflection of the bottom being in or maybe the bouncing around ends up playing out as a mere middle....
By the way, there are some people who still consider current prices to be quite a bit below fair market price, and for me it does seem a bit better to be bouncing around 40% higher than the 200 week moving average, and surely a 40% or more price above the 200-Week moving average seems way more stable.. even though king daddy no does not do stable, and least in these here times, so it would seem to be quite fantastical to be either expecting or seeing king daddy as "stable".. not here.. this seems like bat country.. and not really very comfortable to be stopping.. . unless we go up first.. so if there is more UP and then we come back down to here. .then I could see possible stability around here.. but just going up and then stabilizing around the top of a recent price move (right around 60% up if we start at $27k).. I don't see it.. I just don't see it. Call me blind.. if you like.
Even though my wife knows that bitcoin rebounded today she doesn't understand this post the way I do.
At least, someone here can relate to it.
Poll
