Is Bitcoin maintaining its value at the 30-40K range? Will It Reach $100K or Head In The Opposite Direction? Most people I know are still in The Negative with Bitcoin Investment – May 6, 2022,
There are only 2 currencies I watch with Bitcoin, the U.S dollar and the Canadian dollar value. I was shocked to learn that over the span of the last 2 years that family members I have one of whom is deeply in debt are Bitcoin speculators. They’re all working-class people, hard-working, but let’s just say they have more liabilities than assets.
For them from what I know, they got into Bitcoin when it reached about $55,000 USD, they fell for the hype that Bitcoin was destined for $100,000 so they said wth hell give her a go, well, since they made those investments Bitcoin has been hovering around $30-$40K sure Bitcoin has reached $45K a few times, but it has reached that $50K mark in a while.
But what has surprised me is that Bitcoin has remained at the $30-$40K level which is good and bad. Good in the sense that it’s been there for quite some time without government spending, bad in the sense, that Bitcoin trading volume is, well, look at it for yourself
Some people argue that Bitcoin is a pyramid scheme, well, if it is, it requires no new investors, and the only way to get people with limited experience to invest in Bitcoin is for the price to go up. For my family members who bought Bitcoin at maybe the peak? they’re bitter, telling me that they don’t want to talk about it. I’m a boring dividend investor and to date, my boring investment are doing better than Bitcoin, while at the same time providing me with a monthly, quarterly, semi-annual, and annual cash flowing income.
The arguments people make against dividend investors is that dividends only pay a few cents, well, they’re right, but those few cents and a few dollars add up, most of my new stock buys come from my dividends, I’m basically playing with the house’s money. Where’s at best it appears Bitcoin investors, especially the ones who got in late, may have to wait for the Federal Government to get the green light to send Americans free checks in the mail.
I have to remind the reader that the Bitcoin boom happened when Donald Trump was attempting to buy votes for the 2020 election. Trump sent money to businesses, to individuals to business hopefuls, he sent money to everyone, and well, a lot of these people put some of that money into Bitcoin imagining that Bitcoin was inevitably headed for $100,000?
So what happened? Well, at the moment Bitcoin is stuck in the mud and it appears to be trading with US Stocks which is terrifying.
Bitcoin moves in lockstep with US stocks as big traders enter market | ft.com
I’ve been saying for quite some time now, how do you value a Bitcoin without the U.S dollar? Gold has a history of value without the U.S dollar, Bitcoin doesn’t. Meaning that if the U.S market crashes, do you think people will feel safe putting their money in Bitcoin? I’m not sure, but if Bitcoin continues to trade alongside the U.S stock market, it’s a signal of market manipulation, or what I’d like to argue is a reality that certain potentially ROBOTIC entities have orders to buy and sell Bitcoins based on what happens in the U.S stock market.
With that said, this would make Bitcoin very dangerous for mom and pop investors, because if these Buy-Sell Robots do exist and new investors either buy the dip or buy once the hype machine tells them that Bitcoin is headed for $100,000, all I can say is be careful folks. We all know the stock market is manipulated, one of the reasons I buy dividend-paying stocks is because I know I can’t beat the traders with more access to capital than I can ever imagine having.
So my investments into the casino, at the very least pay me something, for the time being, and no, all of my money is not in the markets, I remember what happened the last time markets crashed, they had a holiday, so the money I have in the casino I can afford to lose. Those of you who can’t afford to lose any money, make sure, you pay close attention to Bitcoin trading alongside the stock market, because it’s a clear sign, that there are likely trading bots with preprogrammed orders to buy and sell based on certain market conditions.
To those of you who don’t get it, this means they could profit off of people both buying the dip and buying while the price is appearing to ascend. I’ve met some of the people who use trading bots and although they’re nice people, the way they trade is RUTHLESS! I’m a capitalist, but some of these people JUSTIFIABLY take capitalism to the extreme. There is risk in putting money in Bitcoin and I’m writing this post to hopefully enlighten some of you, to make wise investments and don’t believe the hype.
Interesting times ahead!