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A comment on Bitcoin breaks above $20k for the first time ever.

Re:Bitcoin breaks above $20k for the first time ever by wolco2 on Wednesday December 16, 2020 @10:19AM (#25443563)
Just a warning based on the past.. those who buy now will see huge drop in value. Setting a record usually is a good time to cash out a bit.
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Re:Bitcoin breaks above $20k for the first time ever by intotheabyss on Wednesday December 16, 2020 @10:23AM (#25443622)
This would have been terrible advice in 2017 when BTC broke past it's previous ATH of $1300.00. Not saying BTC is going to 10x from here, but a true warning from the past would be not to sell.
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Re:Bitcoin breaks above $20k for the first time ever by mcguire on Wednesday December 16, 2020 @10:29AM (#25443718)
Because there's no upper limit to what someone will pay you for a random number backed by no assets.
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Re:Bitcoin breaks above $20k for the first time ever by beamatronic on Wednesday December 16, 2020 @11:05AM (#25444183)
You just described the entire financial system. Everything other than gold or a house falls into this category.
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Re:Bitcoin breaks above $20k for the first time ever by mcguire on Wednesday December 16, 2020 @02:20PM (#25447164)
That is a false statement. For one thing, gold is not a productive asset; for another a house is not spectacular investment.
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Re:Bitcoin breaks above $20k for the first time ever by wolco2 on Wednesday December 16, 2020 @02:48PM (#25447569)
It would have been when it hit 10,000 and dropped below 5,000 for awhile. Depends on when you cash out.
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Re:Bitcoin breaks above $20k for the first time ever by arc0 on Wednesday December 16, 2020 @11:16AM (#25444307)
The whole "you can't use the past to predict the future" thing goes both ways. It's pretty poor form to give unwarranted investment advice based on ignoring one of the few steadfast principles in finance.
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