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Re:Bitcoin Breaks $60k by m3kw9 on Saturday March 13, 2021 @10:54AM (#26447363)
The amount of FOMO and The fear of 1.7T flooding the system is a big factor in the run up. Wouldn’t chase it
Re:Bitcoin Breaks $60k by disruptalot on Saturday March 13, 2021 @10:59AM (#26447397)
You wouldn't chase a store of value asset when money is being flooded into the system at record levels? Doesn't sound like very good advice. Indeed stocks, real estate etc. are being bought up for the same reason. Some people use Bitcoin for that purpose.
Re:Bitcoin Breaks $60k by elmerfud on Saturday March 13, 2021 @11:30AM (#26447620)
I don't buy in to this. People aren't buying due to the helicopter money fallout from the sky. If that was the case you'd also see gold going up. That's your classic value store and hedge against inflation.

This is more interest rates driving speculation. If I can borrow money at less than 3% it makes sense to borrow and lock it in to an asset for 20+ years. It's a good return on the investment for people who have an excess of wealth. Conversely the helicopter money is placing yet another squeeze on the poor and middle class. They're wanting to take advantage but not from their excess wealth so they can't ride out the shifts when it turns on them.

Re:Bitcoin Breaks $60k by dkjaudyeqooe on Saturday March 13, 2021 @11:15AM (#26447515)
You've got that the wrong away about. People buy stocks and assets because interest rates are low: the leverage of borrowing easily overcomes what people holding cash are doing.

Since the stimulus has passed the dollar has strengthened, and will probably continue to. People are assuming that interest rates will be going up due to increased spending and employment.

As interest rates start to bite the value of stocks and real estate will slow down or reverse since they become more expensive to buy (with leverage), so it's not a great bet going forward.

Re:Bitcoin Breaks $60k by alphabettsy on Saturday March 13, 2021 @12:24PM (#26448064)
Store of value? Lol. It’s a speculative investment. Stores of value don’t often change 100% within the span of a few weeks.
Re:Bitcoin Breaks $60k by core-questions on Saturday March 13, 2021 @10:55AM (#26447369)
1.7T? Can you elaborate?
Re:Bitcoin Breaks $60k by sharedfrog on Saturday March 13, 2021 @10:56AM (#26447375)
USA stimulus package.