Off Topic Does anybody understand bitcoin?

What is something worth that you cannot see, touch, or really do anything with other than sell it to the next person? Hopefully for more than you paid for it. That is the only source of growth in its value.

 

It's gambling. If you can get your initial stake back, even better if a bit of profit too and still leave some in then you've won.

 

Eth is still 50% off it's former peak and Chain link 100% off it's October 2021 price although briefly earlier in the year it was over 209% higher than now .

 

You can actually spend it so a spike will increase your spending power

 

I don't and (almost certainly won't) hold any, but Bitcoin is flying! A few on here will be smiling, good on you, .....but it's only paper profit until you sell.
That said, my low cost diversified global funds are doing very nicely too. I had a pleasant surprise when I just checked up on them (one of the good things about this approach to investing - I don't have a need to look that often).

 

Some of the Alt coins are on the tear .
Xrp up over 300% in a month .
Chain link just pumped 31% today .

 

The experiment £1,000 is doing well. Up by 188.07%.

 

Hit $100,000 / £80,000 .
Up 140% this year.
When you hear some of the crazy predictions they turn out not to be crazy .
I thought they were bonkers predicting this price when it was at £30,000 earlier in the year

 

I've had stuff go up 300% so took original stake out and the rest can ride on their own now.

 

In that situation I think I'd take out the profit and leave the original stake in.

 

Agreed

 

Plenty of life left in them yet.
There's a key date of 20th January to wait on which should have a bearing on taking any more profit.

 

I personally people are taking profit to early.

But I get everyone's appetite for risk is different.

I've used the 4 year cycle theory to work out a profit taking strategy.

The Bitcoin high happens around 540 days after the halvening. This works out as 12th October 2025.

I'm going to start taking profits around 1st September 2025.

 

Nice dip on alt coins tonight.

Most are 20% down. Decent buying chance.

 

All part of the game.

 

How can a "4 year cycle theory" apply to something that's only had any value for just over 10 years ( and is so different to the past, is so volatile, is impacted by unexpected / unknown events, etc etc)

 

Exactly, it's a market not a finite science.

 

Bitcoin has had two full four year cycles and is the data we have. You can only go on what you have and I think it's a reasonable plan. It's not perfect but I think it's important to have some sort of plan.

 

Back to over $100k now. The dip didn't last long.

 

Bitcoin and the Ftse100 both hit new highs today.