Posted on 01/03/2021 3:48:21 PM PST by Presbyterian Reporter
In relatively heavy trading on Saturday and today, Bitcoin prices soared higher.
Friday closing price = 29,432
Saturday closing price = 32,615
Sunday current price = 33,411
Bitcoin reached a high of 34,800 today.
Gold and silver are also up in the Sunday evening markets.
Bitcoin sales were many times higher than that produced. Units are being taken out of circulation, so the available trading supply is shrinking.
ETH, and LTC are also moving much higher.
I own gold & silver but have no clue what a bitcoin is, so here I sit out of this loop.
To put the Bitcoin prices into perspective-—
Tuesday Dec 15th = 19,364
Saturday Dec 26 = 24,892
Right now = 33,411
Bitcoin is telling us that the emperor dollar has no clothes on. The dollar is becoming vapor paper.
So, can I buy a 21 Ford Mustang for a single bitcoin?
“””I own gold & silver but have no clue what a bitcoin is, so here I sit out of this loop.”””
I am in your camp. If I do not fully understand something, I do not put my money into it.
Why is this concerning to some?
But what happens when nations go to their own cryptocurrencies that are controlled by banks?
Will it even be recognized as a legitimate currency?
If not, people will have worthless nothingness, as it only exists in cyberspace.
Dont buy Bitcoin now, its about to go down again, probably most of the year. Wait until it bottoms out around $13k or so, then buy.
“””So, can I buy a 21 Ford Mustang for a single bitcoin?”””
If you own a single bitcoin.
The same can be said of every currency, nowadays.
“””Why is this concerning to some?”””
When alternative forms of money are rising (gold, silver, cryptocurrency) it means that many folks are concerned that the greenback and other currencies throughout the world are weak and subject to decline.
Can You Buy a Car with Bitcoin?
The answer to the question "Can you buy a car with Bitcoin?" is "yes." You can buy practically anything with Bitcoin.
It does tend to fall after the New Year. Maybe I should lower my buy order another $10K?
Don’t feel bad or left out. It’s value is only what others make of it, some are making bank and others losing their shorts. Unlike the stock market, there is no company tied to the value.
If the economy crashes, it does no good. Physical metal and other desired goods are the only tangible bargaining items at that time. No one will be interested in bargaining digital 1s & 0s if they have no power or guarantee/idea of future value for trade.
I broke even on my cryptos a few days ago, after holding 3 years. trying to decide if I should liquidate them now.
“I broke even on my cryptos a few days ago, after holding 3 years. trying to decide if I should liquidate them now.”
You can’t say you broke even until you liquidate.
You hear me to that 😁
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