Posted on 07/27/2020 3:52:25 PM PDT by JHL
Bitcoin prices were taking flight on Monday, pushing the digital currency to the highest level in about two months and ending the long dormancy of the world’s No. 1 virtual asset.
Bitcoin, the largest and most influential cryptocurrency, shot past the key $10,000 resistance marker—all eyes are now on the critical $10,500 level,” wrote Nigel Green, chief executive and founder of deVere Group, a financial firm, advising some $12 billion.
Bitcoin’s BTCUSD, 3.73% recent rally to $10,237 took it to around its highest level since June 1 based on spot prices.
Bitcoin futures BTC.1, 3.81% trading on CME Group were at $10,335, the highest since June 2, according to FactSet.
The move for the digital currency comes as gold prices have surged, amid a rush for assets that considered alternatives to cash and stocks fueled by the COVID-19 pandemic that has driven much of the developed world into a deep recession.
Gold prices rallied to an intraday peak at $1.941.90, up more than 2%, and taking out an intraday record for the most-active intraday at $1,923.70 an ounce that had stood since an ounce from Sept. 6, 2011.
(Excerpt) Read more at marketwatch.com ...
Stocks are scary, you can't tell when it'll severely drop. I have a lot of my worth in stocks, scary because it's like gambling. However, in a couple large crashes where I lost a third of my worth, the stock market recovered and climbed higher. Even the recent plunge has recovered what I lost, and that was mere months ago. My gold/silver has gone no where in comparison.
I mined over a score and bought a LOT of stuff with them over the years. Kept half... I also mined several hundred ETH and LTC, fyi. Somewhere a leak needs plugging...
A friend of my son mined a bunch 8 years or so ago in high school. The kid (the miner, not my son) is in his 20s now, and he's a multi-millionaine, as in tens of millions.
How much was your rig?
Smart Kid!
I had about 6k in four miners. In hindsight, I could have bought 100 at the time, worth a cool million now, 2 mil at the peak a while back. :)
I'd gather you don't personally trade..but have a fund.
I trade for a living...and I'm never scared.
At least with paper money you get a piece of paper.
I figure that eventually block-chains will be looted by AI based systems.
My wife ands I dabble in some personal trades here and there, and we also have investments in funds. One can think they know what they're doing, but can be catastrophically wrong. So I'll say I don't know what I'm doing, but have been really lucky. My bad picks have been greatly outweighed by good picks. There are a couple that went bust to nothing, while others made a 100 times what I paid. I've made many times more money in stocks than I have in bonds, real estate or cash/metals. We're debt free and retired, so we can take risks but we want to leave something for our grandchildren so we don't go crazy on trading. I do agree with you that stocks are better than metals (sitting around doing nothing).
pyramid scheme....eventually some one will end up holding the bag there is only perceived value.
agreed
Turned 100k into 40k..turn 40k into 80k...Got incredibly lucky..on some some trades. Got cocky on many also..!! Ha!!
Shut it all down for a time..and started reading about successful people....studied charts and technical analysis. Paid for some info also.
Long story short I figured it out.....I paid my dues.
Thanks for replying..Good luck!!
Also got around to paying for research and info. Last one was a subscription to Stansberry Investments Research. Lots of technical analysis, reports, charts,... my eyes glazed over and gave up reading it. Easier to throw a dart on a wall and pick stocks that way. Then there's friends. My wife got convinced by friends to invest in a stock that was a sure bet to skyrocket - that was Enron. She said it was cheap, I said that's because it's sinking rapidly. She lost her investment on it. I lost on Palm, sure it would be successful, turned thousands of dollars into pennies. Yes, we all make mistakes! Thank you too for the info.
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