What's the breaking point for Bitcoin?

[WRasco]

Dang it, I missed the low point again...

[jshouse]

Dang it, I missed the low point again...

check again

[RiverRat1]

LUNA coin went from well over $100 and straight down to under $1

This is not good for any cryptos. May buy the fear if things tank 25% from here

[CTR0022]

I thought crypto was suppose to be an inflation hedge. Lol, not looking good

[SharpEnd]

I thought crypto was suppose to be an inflation hedge. Lol, not looking good

BTC has been way too much in lock-step with the S&P this year. The "institutional investor adoption" meme is more likely reality and they are selling to reduce risk. Still has quite a bit of downside to go, unfortunately. Ultimate bottom should be around 22k, hopefully it won't go that far, but it would be nice to catch a sweep of that low.

[HTXTundra]

BTC has been way too much in lock-step with the S&P this year. The "institutional investor adoption" meme is more likely reality and they are selling to reduce risk. Still has quite a bit of downside to go, unfortunately. Ultimate bottom should be around 22k, hopefully it won't go that far, but it would be nice to catch a sweep of that low.

Facts!

Everything is running like the S&P / SPY. Just need to be PAYtient and start scaling in, buying the the dip, averaging down.

There are too many variables affecting the market right now. Lots of fear and negativity.

[BigL]

I never suggest this with stocks because I can trade technicals but with crypto, dollar cost averaging into it while it's down seems like a good strategy.

Just like stocks though, "the time to buy is when there's blood in the streets." That time could be now.

[okrattler]

What the hell is up with this breaking point bullcrap? If you have a breaking point in anything on this earth quit at life because you don't deserve to be here. I've seen more threads about breaking points than you can shake a stick at lately. I don't get it.

Breaking points are for the weak. Apparently it's some running joke that I'm not aware of but if you have a breaking point just stop.

[HTXTundra]

I never suggest this with stocks because I can trade technicals but with crypto, dollar cost averaging into it while it's down seems like a good strategy.

Just like stocks though, "the time to buy is when there's blood in the streets." That time could be now.

100%
Right now a lot of stocks are on sale (black Friday).

[RiverRat1]

What the hell is up with this breaking point bullcrap? If you have a breaking point in anything on this earth quit at life because you don't deserve to be here. I've seen more threads about breaking points than you can shake a stick at lately. I don't get it.

Breaking points are for the weak. Apparently it's some running joke that I'm not aware of but if you have a breaking point just stop.

Looks like your breaking point is reading too many breaking point threads

[elgato]

Not sure if this relates but I just left a meeting with a buddy that mines bitcoin. When the Chinese outlawed mining he went to Canada and bought $10M worth of Chinese computers and set shop up in Tx. which has low cost elec. he just spent another $1M liquid cooling the computers so he could mine 3 extra coins a month. He is quite savvy in the space. Anyway, just for the curious his break even on mining is $21,500 per coin.

Probably not relevant to the intent of this thread but I thought interesting

[Pedernal]

Not sure if this relates but I just left a meeting with a buddy that mines bitcoin. When the Chinese outlawed mining he went to Canada and bought $10M worth of Chinese computers and set shop up in Tx. which has low cost elec. he just spent another $1M liquid cooling the computers so he could mine 3 extra coins a month. He is quite savvy in the space. Anyway, just for the curious his break even on mining is $21,500 per coin.

Probably not relevant to the intent of this thread but I thought interesting

Very interesting indeed thank you for sharing! I am still not sure I totally understand how all the crypto currency thing works but always interested in reading real world examples of how some folks are making money.

[Mitchell8]

For 21500 a coin mining ill start digging in my back yard to look for them coins. Anyone know what one looks like?

[HogHunter34]

Facts!

Everything is running like the S&P / SPY. Just need to be PAYtient and start scaling in, buying the the dip, averaging down.

There are too many variables affecting the market right now. Lots of fear and negativity.

Not everything
While the equities market is going down in value,
Many things are going up in value….vehicles, housing, gas, groceries, plumbing, electrical, etc…

[HogHunter34]

Forgot to add insurance premiums & property taxes too
Quite ridiculous