I agree that there's not a predictable correlation with the equity markets. The crypto-currency market moves on current news. At that time whales use the news to manipulate markets. Small coins are pumped and dumped daily. I try and ride the pump wave and get out before the dump. Easier said than done. News such as listing on Coinbase or Binance causes big pumps.
Pat on point as usual .. Iran announces plan to create a crypto 100 pct backed by gold the way you describe.. why would Zuck try and create a stable coin? for the reasons you stated and also he knows the us gov has also played the "war game" of digitizing the usd , has met with companies that already are further along in distributed ledger technolohy though doubtfull they would adopt someone elses tech..
..
more importantly digital store of value as the only bullish case you see for bitcoin ?
ABSOLUTELY Pat ., =bitcoin is the best use case of blockchain in general and while gov will dick around with stuff like bananas on the blockchain they know people know that using it as a point of sale makes zero sense .. 31 million millionaires in this world and only 21 million bitcoins once fully matured in 2040 .. When every millionaire in the world decides they want 1 .. it wont be possible..
16m in circulation , the "halvening" occurs next spring cutting block mining rewards in half ..
..
more importantly digital store of value as the only bullish case you see for bitcoin ?
ABSOLUTELY Pat ., =bitcoin is the best use case of blockchain in general and while gov will dick around with stuff like bananas on the blockchain they know people know that using it as a point of sale makes zero sense .. 31 million millionaires in this world and only 21 million bitcoins once fully matured in 2040 .. When every millionaire in the world decides they want 1 .. it wont be possible..
16m in circulation , the "halvening" occurs next spring cutting block mining rewards in half ..
appx the 10 largest mining operations in the world are in china .. the chinese gov gave these operations a special rate that is 10 pct of the general public rate to keep the miners in china therefore controlling the majority of the daily supply of btc that hits the open market .. mining bitcoins is very expensive task .. profit margin once everything calculated is 2 to 3 percent .. and by and large they selling all but the 2 , 3 pct of mined coins on the open market to cover operating expenses..
during strategic times mining opps collude ( such as when the price is so low that its silly to sell on open market ) and cover expenses without selling the new inventory to cover the 97 pct .. this allows them to have an effect on the price .. the halvening is next spring .. there is no chance those that are in control of supply are taking a 50 pct pay cut .. therefore you have been seeing for the last 5 months the walk up of the price of a bitcoin to cover the expense costs once the halvening occurs in spring
during strategic times mining opps collude ( such as when the price is so low that its silly to sell on open market ) and cover expenses without selling the new inventory to cover the 97 pct .. this allows them to have an effect on the price .. the halvening is next spring .. there is no chance those that are in control of supply are taking a 50 pct pay cut .. therefore you have been seeing for the last 5 months the walk up of the price of a bitcoin to cover the expense costs once the halvening occurs in spring
and 4 years later , another halvening .... the time to make satoshis is now .. very common dilemma with traders is that their portfolio
goes up in fiat value, but their bitcoin count goes down. on the contrary if the value of their portfolio in fiat goes down ,but they accumalate more bitcoin, then they are happy.
depends on what you believe in , and how long bullish you are on btc .. but if you are into it already , chances are you like most everyone that i know , is in a race to accumalate sats
goes up in fiat value, but their bitcoin count goes down. on the contrary if the value of their portfolio in fiat goes down ,but they accumalate more bitcoin, then they are happy.
depends on what you believe in , and how long bullish you are on btc .. but if you are into it already , chances are you like most everyone that i know , is in a race to accumalate sats
huh? ...may want to tell that to the guys that bought btc at $17,000......... btc isnt backed by taxation/govt, USD is. BUT if you 'believe' the proud US of A is on a cliff?..may want to get some BTC brah...and get out of dodge....
USD not bveing replaced .. btc will be store of value with our without us residents and or wether usd is strong or not ..
there are some mis concpetions out there .. btc can stand on its own and dosnt need a catastrophic financial event .. btc not going to be a
point of sale currency .. some vewrsion of a stable coin will .. my bety is on a digital us dollar juist dont know logistically how or when that happens but it would happen even if btc . never established
the author was very lazy, eye catching headline tho;
this article looks into the correlation a little deeper. Keep in mind BTC is still in its infancy, and NO 2 assets are 100% correlated.....does BTC and equities have a clear inverse relationship? how did BTC do in the equity crash of late 2018?
https://www.bitcoinmarketjournal.com/bitcoin-and-stock-market/
Is Bitcoin Correlated with the Stock Market? The Answer, in Charts and Graphs
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<time class="entry-date published updated" datetime="2019-01-03T08:00:35+00:00" style="box-sizing: border-box; font-size: 14px; font-family: "Roboto Condensed", sans-serif; color: rgb(139, 150, 160); border: 1px solid rgb(223, 224, 224); margin: 0px 10px 0px 0px; padding: 0px 10px; border-radius: 3px; display: inline-block;">January 3, 2019 8:00 am</time> by Lucas Hahn
3,476 Investors read this
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How are digital currencies like bitcoin correlated with traditional assets, such as stocks and bonds?
When stocks rise, does the price of bitcoin tend to rise or fall?
The consensus is that the correlation between bitcoin and stocks is weak.
In May, Bitwise Asset Management stated that bitcoin’s correlation with bonds was just 0.25. Bitcoin’s correlation with stocks was even lower, just 0.12.
There was no clear relationship between bitcoin and stocks in 2018. Bitcoin’s correlation with stocks, 0.07, is very close to zero.
Looking Ahead
What will the relationship between bitcoin and stocks look like in 2019? Will Bitcoin remain uncorrelated with the stock market?
In recent weeks, bitcoin and stocks have moved in opposite directions. The S&P 500 is down 9.5 percent since December 13, while bitcoin is up 16.4 percent.
Bitcoin’s low prices might attract investors looking for uncorrelated assets in 2019.
Furthermore, bitcoin might do well in a downturn. In October, a Fundstrat survey found that 72 percent of institutional investors think the price of bitcoin could rise during a recession.
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Hello Everyone,
I am new to this forum and i would like to share my experience with you guys on these online currencies. As I have been into Crypto trading from the past two years.
As we know a time came in the past few years when crypto crashed and many people suffered loss, but when the trading resumed, it created a hype in many people and it's one of most successful online currency in the history.
I am new to this forum and i would like to share my experience with you guys on these online currencies. As I have been into Crypto trading from the past two years.
As we know a time came in the past few years when crypto crashed and many people suffered loss, but when the trading resumed, it created a hype in many people and it's one of most successful online currency in the history.
