Quote:
Originally Posted by BWillie
Taco John did the exact opposite you needed to do in crpyto. During periods of crypto recession, you want to move your crypto portfolio to almost solely the big boys such as Bitcoin and Ethereum. They lost their value the least in the last year. While alot of alt coins burned up or lost way way more of their value compared to bitcoin.
I do expect Bitcoin to be back. I think Monero is a good coin as well for a successful alt due to it's privacy features but by far and large most alts are just a gimmick. What you saw was Bitcoin being manipulated in price one Wall Street guys got involved. The true price of bitcoin probably lies in between the price it was before the bull run and the top ($19,800). There is no reason to believe it won't become 10k again someday.
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It was a classic speculative bubble. While some assets regain value, many are revealed as eminently worthless. The dot-com bubble is proof positive of that.
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"When the Know-Nothings get control, it will read 'all men are created equal, except negroes, and foreigners, and Catholics.' When it comes to this I should prefer emigrating to some country where they make no pretense of loving liberty – to Russia, for instance, where despotism can be taken pure, and without the base alloy of hypocrisy.”--Abraham Lincoln
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