Yesterday a bitcoin was worth $57,000. Today it is worth $43,000. Sharp drop don't you think?

But its actually worth nothing with the clic of a mouse.

It's happened before.

Seems logical to me with the Fed threatening to tighten

What is going to happen to other markets if the fed takes away unlimited liquidity

I think we are already seeing some of that. Hopefully it will be a gradual process. Fortunately, there are a lot of Wall streeters who are all in favor of tighter monetary conditions.

If Congress would just fail at everything they attempt, it would help a lot too.

My prediction and I hope I'm wrong is that there FED will try and tighten and then deflation will set in. Then they blow the doors off of everything.

Right or wrong thank goodness for Manchin.

I think the Fed is afraid to tighten too quickly because of the impact on debt service on the federal debt. They for sure will accelerate the reduction in bond buying but no actual rate increases until mid year 2022 I think.

Yes. Kudos to Manchin as long as he doesn't cave

If they can reduce bond buying the market will set the rates.

If I was ballsey I'd go borrow a couple hundred grand

Banks don't like to hear that...

consider it was selling for about 18K a year ago.

Oh no 49 er why haven’t you pulled up my old post prediction of this ? You quick to mouth off when it goes up

What would you put it into if you did?I wish I understood how all this worked or how to invest.

Its all a ponzi scheme.In the end a few win,Most stay in cause they are told they are winning.Most lose in the end.Its all about timing in and out.

Your old predictions of this? Pffft. I've made flat-out made several statements on this and other forums I fully expect this kind of volatility. The difference is you think it's the beginning of the end. I think it's part of bitcoins natural market movement.

In the context of bitcoin, this current drop isn't anything even remotely close to new. In December of 2015 bitcoin set a then all-time high of 19,500 depending on which exchange one looks at. December of 2018 it was down to approximately $3200. Without doing the math, that is a 70 percent drop. If bitcoin were to drop the same percentage at today's all-time high it would go sub $20,000. When it first broke 60k it went back to almost 30. You said it was dead then and it ran to 66.

You don't even have any idea why it dropped so much this go around.

Your right I don’t know why plus I don’t care !!!

I didn't mean to borrow money for the express purpose of investing in bitcoin. I mean to borrow money at a low rate while expecting rates to climb in the near future thus making money on the spread.

I don't ever try to convince people to buy bitcoin. If one wants to invest with the express purpose to make money this isn't the vehicle for most, its volatility will rip the guts out of most people and leave them selling before it has a chance to reach its potential.

To explain how it works would be a 2 part discussion. There is the technological side that I am not even remotely qualified to explain and then there is the monetary side that isn't much easier to convey. Personally, I think if an individual is looking at it as an investment it's not the product for them. If an individual is looking at it as a monetary hedge against inflation and government mismanagement well then it might just be something for them to look at.

Another example of its price swings. December of 2013 it was 1100 and change, January 2015 it was 200. If it dropped that much today it would be around 14,000.

What will really be important is what happens in 2024. If demand is the same or more as today. Well.

Just don't understand why they want greenbacks to buy it??

To go with what 49'er said. If you aren't one that likes volatility in your investments it will do 1 of 2 things to you.... Put you on blood pressure medicine, or really test out the BP meds you're on.