Re:Bitcoin value tumbles almost 50% since record November
by jeffbee on Monday January 24, 2022 @12:05PM
(#30060481)
Falling off a cliff while hodlers hold on for dear life means that BTC is exactly like gold. Gold hit its all-time real-dollar high price in 1980, and never regained that price, but gave birth to the gold bug phenomenon. I imagine it can be the same for crypto: in 2065 the hodlers will still be wistful for that 2021 high price. And let's face it many of the crypto people are the same people who were super into gold, too.
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Re:Bitcoin value tumbles almost 50% since record November
by sgt101 on Monday January 24, 2022 @12:34PM
(#30060931)
The point about gold is that traditionally it's been seen to be inversely correlated with equities, which means that you hold gold and equities in your portfolio to give you stability. If equities and BTC correlate then that hedge won't work.