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by bluedevil2k 2018 days ago
You sound like you think Bitcoin will only go up. The last 4 years have shown that to be WILDLY incorrect. Bitcoin price history has shown 0 correlation to the market or macroeconomic conditions.

Gold, as well, is not a safe haven either. The US Government keeps printing money, yet gold is nowhere near it's all-time high (adjusted for inflation).

You shouldn't offer these statements as inevitabilities when history has shown them to be completely wrong.
2 comments
diegocerdan 2018 days ago
I'm just reasoning why it will happen. Macro markets do not always react fast to these kind of trends.

I agree with your description of the present and close past, thus calling an imminent bull market.

The more time this present situation holds, the bigger is the buying pressure.

I'm guessing you have a computer tech background and still don't share my view: imagine all the macro-investors not having this knowledge. They can't predict magic-internet-money eating their lunch.

Cool thing about free markets: they find out the correct solution out of the greed and collective inteligence of the group. <3

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rjknight 2018 days ago
"Zero correlation to the markets" is one of the things that makes Bitcoin desirable. Diversifying your portfolio is all about having things that do not move in the same direction at the same time.
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ineedasername 2018 days ago
It is important to have a variety of uncorrelated assets, but in the case of Bitcoin it's still quite volatile, not always for clearly apparent reasons. It seems to be developing a place for itself, but I think it still needs a few years of less volatility for it carve out the niche many people want it to have.
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joosters 2018 days ago
And yet Bitcoin plummeted in value at the same time as everything else at the start of the pandemic, so it's hardly uncorrelated.

Buying lottery tickets would be uncorrelated. And you've less chance of being scammed or hacked when you do that...

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christophilus 2018 days ago
A lot of things were correlated then that aren’t always / normally. Bonds, stocks, gold... basically everything was sold to move into dollars. That doesn’t mean that those assets are all correlated over the long haul.
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