Bitcoin surpasses $50K as major companies jump into crypto

Re:Bitcoin surpasses $50K as major companies jump into crypto by Cthulhu_ on Tuesday February 16, 2021 @08:39AM (#26153736)

Kind of. But it's a thing with a lot of investments; if one invested in Apple ten years ago their investment would have been 10x now. If one invested in Tesla ten years ago it would be worth 100x now (I think? there was a split at some point. Yahoo Finance's chart indicates it's gone up 10x in a year).

Jumping in now is a bad idea because it's at peak hype; never buy at peak hype. It MIGHT go up a bit more, but it won't be a 10x increase at this point - you should've bought a year ago in that case.

But a year ago, nobody could have predicted it would go up 10x.

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Re:Bitcoin surpasses $50K as major companies jump into crypto by sky_rw on Tuesday February 16, 2021 @05:49PM (#26159794)

Judging by the sentiment in this thread it is definitely not at peak hype.

That's what everybody said when it was $17k and crashed to $5k. I loaded up on it, now its $50k. I bet there were a lot of similar comments saying that it would never be 10x. I also seem to recall a lot of people 10 years ago saying TSLA was overpriced and they would never hit their production goals. Time will tell.

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Re:Bitcoin surpasses $50K as major companies jump into crypto by seibelj on Tuesday February 16, 2021 @07:23PM (#26160892)

If everyone agrees with an investment then it no longer has the potential for high returns as everyone is already in. You need to look at what others don’t and decide for yourself. No one can know the future, you need to have personal beliefs, ideals, and investment theses. Not listening to the HN groupthink helps for investment decisions. The people here are super smart about many things but money is not one of them.

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