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Bitcoin price discussion and analysis
- Thread starter greggles
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I been using pepperstone (forex cfds). they give you leverage too . but i'll likely convert to real bitcoin later if it works out
there are some gaps over the weekend, but one contract is like 18k usd. and if you buy a mini-lot that's 1.8k ... it's not like euro and currencies, where the gaps can put you in serious trouble (debt). unless you're using leverage and going for it.
last weekend there were some big gaps compared to friday. went from a profit to a large loss. and its with cfds .... so they are obviously leveraged. fxcm does 1 lot = 0.1btc (or maybe its 0.01btc, i can't quiet remember). i dont over leverage and backtesting obviously takes into account gaps from weekend. its ETHUSD that has been hammering me right now. i actually stoped that EA today as I don't think its acting the way it should be. BTC EA is working fine though.
i wouldn't place myself into an expert. i don't know a hell of a lot in some regards. i will likely trade ripple too. from my backtests its not as profitable for me with what i currently have and thats the only reason. BTC is more of a standard. also, other cryptos tend to move in step with BTC. not exactly. ETH wont always go up and breakout when BTC does. but obviouly a correlation. spreads would also be worse with ripple. the spread is kind big with BTC for me but its worth a lot more than ripple, so relatively speaking its not an issue (at least i dont think and happy to be corrected!)
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Bitcoin soars skyward as 'fund managers are panic-buying to keep up' with Paul Tudor Jones
BITCOIN's current sprint is fuelled by "huge fund managers panic-buying to keep up" with influential billionaire-turned bitcoin bull Paul Tudor Jones.
Speaking to Express.co.uk bitcoin pioneer Max Keiser said: "Once Paul Tudor Jones fired the starting gun, huge fund managers are panic-buying to keep up. Now rumour has it that Paul Tudor Jones has upped his fund’s allocation from one percent tofive5 percent bitcoin."
Mr Keiser added: "Every time a smart hedge fund guy puts aside their ideologies and dogma and takes a close look at bitcoin, and sees it for what it really is, a superior version of gold, they start buying."
The news comes as Mexico's Ricardo Salinas Pliego has become, "big into bitcoin".
Mr Piliego is a Mexican businessman, the founder, and chairman of Grupo Salinas, and the third richest person in Mexico.
About Mr Pliego's recent adoption of bitcoin, Mr Keiser said: "His reason is that he agrees that all fiat money eventually goes to zero and Bitcoin is better than gold for protecting wealth."
Even billionaire hedge fund manager Ray Dalio, who has been anti-bitcoin for years, has recently admitted he "might be missing something about bitcoin".
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Investment bank with over $35 billion assets plans investing in bitcoin
Mariner Wealth Advisors disclosed it is partnering with Eaglebrook Advisors to give its clients access to Bitcoin.
Mariner Wealth Advisors, a leading regulated investment advisory (RIA), with over $35 billion assets, disclosed it is partnering with Eaglebrook Advisors to give its clients access to Bitcoin.
The crypto-focused investment firm Eaglebrook revealed Mariner Wealth was partnering with its BTC separately managed account (SMA) in allowing financial advisors to allocate Bitcoin on behalf of clients who want to include the king coin in their investment strategies.
The report elaborated more on their new synergy, “We are excited to offer this new solution to clients of Mariner Wealth Advisors, where bitcoin fits into their overall wealth plan,” said Marty Bicknell, CEO and president of Mariner Wealth Advisors. “Our desire to find new solutions is always driven by client need and we are looking forward to working with Eaglebrook on this new endeavor.”
Demand for bitcoin from financial advisors and their clients has accelerated due to current trends, including the growth in investment demand from millennials and institutional investors, bitcoin’s potential as an inflation hedge in response to monetary stimulus and the asymmetric upside of the investment.
“We are thrilled to be working with Mariner Wealth Advisors,” said Christopher King, CEO of Eaglebrook Advisors. “Our investment solution, designed to meet the unique needs of firms such as Mariner Wealth Advisors, makes it easy for their advisors to allocate to bitcoin. We expect cryptocurrency adoption to continue and the market to mature, driving even greater demand.”
well yeah sure, you lose profits e.g. for 1 BTC, not long ago, that's like 16k to 15k. it's tolerable. but don't short it ... .
main thing is you're not getting a nasty debt.
with currency 1 lot is 100k UNITS of whatever ... vs 1 BTC (one lot).
i'm long only. but i have no issue with shorting.
Value Collector
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it’s a bit like when the tulip boom was happening, some people tried to create other markets for other flowers, hoping to get rich off convincing others that daffodils were the next to boom, and would be just as big as tulips one day.
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$100k bitcoin next year: why 2021 will shatter all records - OKCoin CEO
20 November 2020
Bitcoin is becoming 'digital gold' and there is a case to be made for the recent price surge to continue to $100,000 by 2021, says Hong Fang, CEO of OKCoin, one of the largest cyrpto exchanges in the world.
Fang argues that should bitcoin catch up to even 25% of gold's global market capitalization of $9 trillion, that figure would amount to a price range for BTC of $80,000 to $100,000.
sounds enticing
maybe there is a point to those other crypto currencies?
maybe bitcoin will fit in with a global order
Value Collector
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Or maybe there isn’t.
wayneL
VIVA LA LIBERTAD, CARAJO!
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Yeah, long vol, bitcoin... It's all bull****.
With bitcoin uptake is key.
And it certainly seems to be uptaken by key players
With bitcoin uptake is key.
And it certainly seems to be uptaken by key players
Value Collector
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Yeah, long vol, bitcoin... It's all bull****.
With bitcoin uptake is key.
And it certainly seems to be uptaken by key players
I just don’t get bit coin I guess.
As far as I can see it’s just somethingthat has no real value or use outside people buying it hoping that they can sell it later for more.
I mean very few people actually use Bitcoin for purchasing goods, so it’s not a real currency.
It’s not like real commodity that has real underlying uses out side of being used to store value.
and it’s not like a company Share that represents ownership in a real business producing products or services that can be sold.
As I said maybe I just don’t get it, but I can’t see where bit coin gets it’s underlying value outside of being used as a gambling ticket.
wayneL
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Just like anything, by agreement of the participants.
I regularly have discussions with people who don't see the value in it.
Why are Nicola shares worth what they are, they don't even have a product, same with all of these companies that have no actual tangible intrinsic value at all, just some idea, yep are trading at seemmingly ridiculous values.
I mean, what is the underlying value of a zucchini? It grows all by itself and once harvested only lasts a couple of weeks before it's no longer useful.
Value Collector
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The ultimate value of a Zucchini is obviously derived from its ability to sustain human life by providing calories, vitamins and minerals, and from the enjoyment some people find in its taste, and it’s market price will be determined by supply and demand, and when that real value decays so will it’s market price, so it’s all linked to real world value.
The demand side of zucchini price is driven by its real world values that I mentioned, if it did t have those real world values I would be questioning why people are buying them hoping others would pay more too.
———
As for Nicola or any other stock, their value will ultimately be based on what products and services they produce and what profits they make.
In the mean time their stock price is based on hope that these products and services eventually materialise, if they don’t their stock price will eventually collapse.
But where does Bitcoin fit in?
we can’t eat it like a zucchini, if doesn’t represent ownership in a factory or factory idea such as Nicola, it’s not even a commodity like gold that has a real world use, and its not
My question remains, Where does Bitcoin derive its value?
I am not trolling here, this is a genuine question, I simply don’t understand it, if people had asked me 5 years ago my FMG stock was valuable, I could explain that in simple terms.
So far no matter where I look I can’t see anyone that can explain why Bitcoin has value.
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