BITCOIN
- Thread starter Weather Man
- Start date
Now that’s a not money store of value I can get on board with!
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Crypto is dead. Not sure why you guys won't let the thread die too. Haha
Is there a digital gold in the works, that will really work, like one sponsored by a major bank? I think that would be a no brainer. No one hacks my CC payments that im on the hook for, and that's digital dollars. Seems like gold would run at the same rate globally as bitcoin did if it was secure.
Ok I give up.
Where can I get the rose colored glasses that you wear?
Do you see a 350# fat chick and say wow, she’s hot because she isn’t 351#?
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Tesla, ARKK, bitcoin close to cracking as S&P heads to 3,400 - BTIG
SPY -0.77%Oct. 10, 2022 10:23 AM ET13 CommentsThe S&P 500 (SP500) (NYSEARCA:SPY) will not see a V-shaped bounce off its 200-week moving average like it did in 2018, according to BTIG.
The 200-week MA, which currently sits around 3,594 or about 1.2% below current levels, is often considered a dividing line between a market correction and a recession decline.
"While it may have felt that way after the Monday-Tuesday rally, our sense is we break lower this week and head towards the 3,400 level later this month," chief market technician Jonathan Krinsky said. "We still see zero panic in terms of the VIX curve, but as we have seen throughout history, this can change quickly."
"Despite the ongoing bearish sentiment this year, the AAII stock allocation survey shows a much different picture," he noted. "The total stock allocation is still 63.4%. The spread between the stock allocation and % bulls is ~36%. This compares to -7% at the 2002 lows and ~3% at the 2009 lows."
It's likely that long/short momentum will need to stop outperforming the market before there is a durable bottom.
Tesla (NASDAQ:TSLA), ARK Innovation (NYSEARCA:ARKK) and bitcoin (BTC-USD) are all "somewhat related" and close to "cracking key levels," - TSLA at $220, ARKK at $35 and BTC at $18K, Krinsky said.
TSLA has a big volume pocket below $220, he said.
"ARKK is now threatening the $35 level for the fifth time back to 2018," he added. "The last four tests held, but now we have the biggest component (TSLA), a ~9% weight, potentially breaking multi-year support."
"Bitcoin has remained resilient over the last few months clinging to the prior 2017 highs (~18-20K)," he said. "We think it's close to breaking support, however, which would open the door down to ~14,000."
It ain't stopping at $14,000.
Gold never seems to be worth buying unless it's below 400 bucks an ounce. The only exception being the rare/collectible gold coin market whose prices aren't really affected by the price fluctuations of gold per troy ounce.
The only reason I physically hold silver and gold is for a true everything goes to hell scenario. It's an insurance policy I hope I never ever have to use.
I don't currently own any physical gold but do own a lot of silver coin currency. I think if the whole world goes to shit having a useful/practical skill set is going to be handy as well. I used to work in a very poor part of Vegas and a lot of the families did a lot of bartering. i.e., I'll babysit your kids for a week if you can fix my toilet, I'll repair that broken kitchen window if you will drive my kids to and from school next week, etc., etc.
Small gold, pellets and silver coins are the best.
So CryptoBros are mad that their hedge against inflation, can’t be manipulated, doesn’t follow markets, insulated against government action “ASSet” is in fact driven by markets, not an inflation hedge, being manipulated, and controlled by governments.
I’m shocked!
Driving down the road, tryin’ to blow my load, got seven women on my mind. 4 that wanna screw me, 2 wanna blow me, 1 just wanna eat my ass. I like’em sleazy!
All bets are off if we are reduced to bartering. My plan in that scenario is to use my AR to take the gold and the food.
If you have crypto, you’ll still be able to buy food and water in order to survive.
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No Electricity....No Internet......NO CRYPTO!!
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