Loser Araysar
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Investing General Discussion
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Sanrith Descartes
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I got busy near the bottom of the dip.
Wrote GIK $12.50 strike 2/19 expiry puts
Wrote RTX $60 strike 2/19 expiry
Wrote PSTH $22.50 3/19 expiry
Wrote GIK $12.50 strike 2/19 expiry puts
Wrote RTX $60 strike 2/19 expiry
Wrote PSTH $22.50 3/19 expiry
Sanrith Descartes
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Furry
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Jysin
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Loser Araysar
Chief Russia Reporter. Stock Pals CEO. Head of AI.
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Rajaah
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So uh...when's a good time to buy into Bitcoin? I feel like it's going to surge under Biden while everything else drops, due to being disconnected from the banking system that they can now ban people from. Unless they're going to go after it for that very reason. And maybe I'm wrong and it's going to decline just like the stock market is.
TL;DR: I want to buy some Bitcoin right now before anything else happens, is this a bad time
TL;DR: I want to buy some Bitcoin right now before anything else happens, is this a bad time
Fogel
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Loser Araysar
Chief Russia Reporter. Stock Pals CEO. Head of AI.
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i spent a month buying and swing trading BTC and I talk to my brother about it all the time, he has owned a bunch for years and is very bullish on it. so bullish in fact, he bet me $500 this morning that BTC will hit 100K this year
here's my impression after spending a month dicking around on the investment side of it.
if you want to buy bitcoin this is as good time as any. i think $30k is the new floor, it might dip into the 20s a few more times but it will quickly climb back to the 30s. having said that, 40k is also the new ceiling. it needs another major event specifically favorable to BTC to break past that, i dont think the biden presidency is that event. i dont know what it will be, or if it will be soon. i'm talking the type of event where a major retailer like amazon or walmart will let you buy product with BTC, or either one of them holding cash reserves in BTC.
swing trading it is pricey but its predictable, right now it seesaws from 38k to 32k back and forth fairly regularly. but depends on whom you use as a broker/exchange, you have to pay for every buy and every sell transaction. i was trading through coinbase and racked up $500 in fees, but walked away with $2500 profit. there is probably cheaper options. but swing trading it works. if you can reduce costs its even better.
my 2 biggest gripes with BTC is that it basically stays stagnant for 50 out of 52 weeks of the year, and then theres 2 weeks where it might shoot up dramatically. its kind of boomer investing. and the lost opportunity cost is massive. my other gripe is that to see a 3x gain from the current price, you'd need BTC at 100K. Now some are saying BTC will go to 250K, 500K or 1M. if you assume that at some point in the future, BTC will actually reach 1M/coin, thats still only a 33x gain from its current price. even on the most ambitious, optimistic and crazy prediction, you're looking at 33x max gain in its entire lifespan. thats it. However, i dont believe it will even hit 100K this year, so at best you're looking at sub 3x gain for 2021.
having said that, i pulled all my money out of BTC in the past week and couldn't be happier.
Right now i'm ~40-50% up this month alone trading stocks. i take profits and roll them right back into bigger investments. BTC is a solid hedge strategy, but you wont make much money on it this year. you'll make way more money in stocks for the foreseeable few months.
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Loser Araysar
Chief Russia Reporter. Stock Pals CEO. Head of AI.
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