Crypto thread

I think 7500 or high 6’s lowest but who knows. I like that you’re getting ready! 

What alts do you like? 

I have not been investigating what alts could be the next if there is a next and might be undervalued. I have always liked Lite and Ether but I need to get back to trying to uncover what could reasonably unseat or replace BTC in the future.

My issue even with BTC is the whole premise and reason for it existing isnt coming to pass, it has too many issues and constraints and it is not an ultra cost effective way to transact. I also really do not like that they went forward with futures trading on it...that was a very bad move and can/has led to price distortion and manipulation. When they let the market and big money push it around that tainted it a bit for me.

Bitcoin is king and I don’t think that’s changing anytime soon. 

I could see something like ALGO gaining traction and making a run for the top ten. 

I think after the halving BTC will see a new ATH and altcoins will start running then.

Tezos and Link are hot right now.

Cardano isnt being talked about much. They’re finally releasing the mainnet in April or May. It’s my biggest bet.

Ethereum will do well. XRP is centralized, they shouldn’t even be a crypto. 

I dont get what path XRP is taking...they came out and said they were going to try and be institutional and large scale, then they let it rip to 3 bucks and all the way down to 20 cents...I cant name many businesses that want to transact with an alt like that.

XRP is awful. 

I think people like the Winklevoss twins and Draper will be viewed as the best investors of our generation. 

They have $100’s of millions worth of bitcoin and through all of the noise and volatility they just hold and keep going. 

They believe in Bitcoin now more than ever. 

Warren Buffet is in a massive cash position 

Bezos sold billions worth of shares 

CEO mass exodus 

Looks like the Dow Jones has some support around 18,000 

Markets down 14%. Bitcoin down 14%. I will not pretend to know when this will end, but I would guess that we see a relief rally in stock markets next week. Yields are getting juiced and are looking very attractive across all sectors. The world is not coming to an end and 4-6% dividends are going to look very attractive compared to other options when this carnage is finished.

I make fun of Schill because he is selling his book..he owns gold and is pumping it, has for a LONNNNGGGG time. I have no respect for biased cheerleading.

Gold selling off some again today, bonds getting bought like no tomorrow. Time to get a REFI done if anyone needs to lower rate. I emailed my broker and usually this guy is an insta-reply but today no response...mortgage brokers must be going crazy. 

Goldman is referring to this as a "dip" ?   Buy the dip has been going on for years, with floods of buyers coming in with as a little as 1%, 3% drops, etc.  This isn't a "dip".   This is the quickest correction on record.    Seriously, anyone that has allocated a cash position to their portfolio should have been doing SOME buying today (if they hadn't already earlier in the week) .  That is just irresponsible to say this is too soon.   Allocate SOME money, not all.  Average in. 

Also, any reference to charts is not very helpful when dealing w fear in the market.  Those levels of "support" are an absolute joke.  Show me a 200 day moving average of the s&p, and I'll show you a knife going through butter.  Charts are only helpful when there is any semblance of a rational market.  This is not that time.  

Take advantage of irrational markets , and allocate capital.   It's very hard to do if you're not prepared, but people need to check their emotions at the door, and have their allocations and strategies set up BEFORE panics.  Write it down, then refer to it in times of madness, like this week. 

My take was the market forced the hand of the FED and the bond market shows it. The bond market is screaming 50 bps cut and that is what those evil idiots at the FED will do.

Enabling the casino will not bring a cure to this virus nor will it bring GDP to higher than 2.5, but hell it will grease the wheels for hedgies and private equity to pump buybacks and leverage S&P futures contracts.

Hey! I thought this was a Crypto thread? LOL. Thank god this week is over! Hopefully the big institutional buyers will take advantage and start buying next week. Individual investors are like tiny row boats in the sea and the ocean liners are the institutional buyers...….we are forced to ride whatever waves they create.  

The smoke is still smoldering from the carnage of this week.   

To answer you  DETOX, I bought on Wednesday w increasing amounts on Thursday.   Averaged in probably 10 or 11% down from market peaks on  mutual fund purchases.  That is just fine w me... Stock wise, I started a position in Disney (down 15% from their recent high),  bought more of Exxon and Chevron , and my gambling stock PENN.   These last three have been obliterated irrationally IMO, and willing to step I.   Long term , I think each of these will be fine, but this market has the potential to get much , much worse before it gets any better soon.  Next trigger point is 20% down if we get that bad.  This is why I keep a cash position in the portfolio

The death today in U.S. from Corona virus, and these additional "community spread cases " is sure to keep  rattling the markets big time.   We will get an idea of the continued panic in the futures market Sunday night.   

I agree, Wall.. dropping rates will do nothing to address the source of the problem.   How does dropping rates make the individual more confident going out in public, or the business manager more confident in that next investment,  when there is contagion everywhere.  

Dow futures swung more than 1,000 points overnight. 

Interested to see what happens this week. 

Did Eric Trump call it or did Eric Trump call it