Posted on 03/23/2021 8:05:22 AM PDT by aMorePerfectUnion
'Goldman Sachs said that Bitcoin’s 2021 returns had eclipsed that of the stock market’s best performing sector
Investment bank Goldman Sachs revealed that it had started tracking Bitcoin’s performance at the beginning of the year, and so far, the leading cryptocurrency has outperformed the stock market. According to Goldman Sachs, Bitcoin’s year-to-date return is double that of Wall Street’s best performing sector.
...
As of 4 March, the leading cryptocurrency’s year-to-date returns are around 70%.
The ROI is double that of the energy sector (35%), which occupied the second position.
Bitcoin (BTC) began the year close to the $30,000 mark and quickly rose to reach an all-time high of $58,300 in February. BTC has experienced a tumultuous two weeks, dropping below the $44,000 mark last week, but it is rebounding and currently trading above $53,000 at press time.
The energy and financial sectors are enjoying excellent year-to-date returns thanks to the recovery in oil prices and real yields so far this year. However, despite the rejuvenated performance of these sectors, they still lag behind Bitcoin.
The cryptocurrency’s market cap surpassed the $1 trillion mark earlier this year as BTC, ETH and others rallied.
Amongst the asset classes tracked by Goldman Sachs, Gold was the worst performer since the start of the year.
An increasing number of investors are gaining exposure to Bitcoin and other cryptocurrencies...
A recent survey had revealed that 40% of Goldman Sachs clients have exposure to cryptocurrencies. More than half of the clients (54%) believe the cryptocurrency will top $100,000 by the end of the year.
(Excerpt) Read more at coinjournal.net ...
Projections in November 2020 from two different Cybercoin financial experts had one projection at $220,000 and the other at $270,000 in 2021. At just over $50,000 Bitcoin and other cryptocurrencies are at barely a quarter of projections.
or buy....depending on one’s objectives :)
check out coinbase
it’s not difficult at all
the more cardano I buy...the more it drops :(
good thing I’m a HODL
I almost bought back into OMG yesterday. Missed it by a few cents. ETH is struggling today. I may have to lower my sell price, or just be more patient.
Will do crypto-friend!
I’m giving you bonus points for even knowing what Cardano is...
The projections are astounding to me.
I’ve read how they were were arrived at and based on their logic and approach to the valuation are reasonable.
I have no idea how high is high at this point.
I will say that the institutional demand for BTC, ETH, etc is amazing.
I think only the gov’t can shut down this movement and it seems hard to believe they would shut down the DeFi movement.
But the administration is led by a foolish man.
Try doing a head fake, and if it drops, buy! :-)
Gotta have limits... I.E., budget.. money manage, etc. :)
I set buy orders by what I'm willing to live with if the price drops drastically. I have the ETH orders at about $50 levels or 3% price differences both for buying and selling, with at least 25% loss or price gain covered by both orders.
I watch how the orders are stacked and try to place my orders just inside large blocks of orders, even if it means a bit of a price adjustment sometimes.
Usually the only time I modify my orders is if the large buyers/sellers move their orders (I like to check this at least twice a day) or on news. If news is very good or very bad, I double the margins/percent of price level between order blocks.
As soon as an order fills, I place another in the opposite direction if the price margin is there 2.5% or greater. I don't make a lot on each trade, but I usually make a little something.
The danger is getting trapped on top, but even if I have to take a haircut/loss, it's not that much due to the small blocks I work with.
The psychological benefit of this type of swing trading is you don't stress too much over which way the market is trading. The less you stress the better job of trading you are able to do.
Stick with one, or two, or at most three, whatevers. Watch trade volumes. If you don't know what the average daily volume is, in your head, you probably shouldn't be trading that particular whatever.
This is mostly about news and money flowing in. I think the recent spike was in part due to stimulus money.
Directing this at inexperienced traders... :)
Everything said, I'm still a partial holder too.
Just what works for me. YMMV...
I like that approach....
a disciplined approach, for sure!
I learned the hard way.
yep, I understand that. sorry, I don’t know of a peer to peer way to work with bitcoin....hopefully others in this ping list do.
What is the consensus on dogecoin around here? I bought 500 last week just in case. Might buy more.
My understanding is that doge coin is unlimited in number…
But I really don’t know and have never purchased.
I think Elon Musk has promoted it recently.
“ I had to provide them with my BANK LOGIN ID AND PASSWORD as a funds verification step.”
Hard to transfer $ to buy or back into your account after you sell without it.
Couldn’t you just change your bank password after verification?
That's one I haven't owned. They're a fad. They go up when they're in the news and down when they aren't. Elon Mush recently gave them a big push by just a tweet. Of course, he can do the same for anything. Tesla announced it was accepting BTC for car purchases, and the price went up many hundreds of dollars, today.
Those that I trade have something going for them that I believe sets them apart, except for ones I receive due to a fork, etc.
One very much unappreciated crypto is LTC, BTC's little brother. It's silver to BTC gold. I mined several hundred. There are four times as many LTC as BTC. Transactions are smooth, blockchain is efficient, and many firms accept LTC. But they've always struggled. LTC is $200 to BTC $56,000, today.
Best to research and understand whatever you're planning to trade. I think many get in a bind when trading something they aren't too familiar with. That would be Dogecoin for me, and I'd have to totally rely on my limited ability to read the tea leaves (chart analysis).
Maybe look into the number of A.I. algorithms which automate trading. Some have impressive returns. Machines can't be beat playing chess now, so the same may be applied to trading, but that's not my style, yet. :)
Make sure of the site by checking the address. Watch out for spoofing or fishing attempts if you decide to proceed and change your password immediately after you've connected your account. Also use two-factor identification.
There are other ways to move funds. Maybe a wire transfer would ease your fears? Or perhaps fund your trading account using a credit card to purchase crypto through coinbase, then move the crypto over to their trading platform.
Driving this is the KYC laws. I've had a coinbase account for a long time, and don't recall the need to do this to link accounts.
You're wise to be cautious these days!
But if it somehow takes off...wooohooo
It looks like the bloodbath continues today.
I bought a couple DOT last night when it got below $30. Just a few.
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