Holding On for Dear Life

Tim Knight from Slope of Hope's picture

From Slope of Hope: Checking the Bitcoin chart has, for me, become kind of like watching a huge auto wreck. Even though I have nothing to do with it, I just can't stop looking. In the past 24 hours, three milestones have fallen away - - $13,000, then $14,000, and $15,000.

slopechart_$BTC (2)

Let's just say $BTC owners have had a not-too-awful year (unless they sold).

1207-bi

And the experts have been offering up superb advice the entire way (this is from January 2014):

GartCoin

I guess if the experts were asked for a place as a "flight to safety", they might suggest, oh, gold. And we can see how THAT has been doing lately too:

gold

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rsnoble's picture

Its a conspiracy to keep you out of gold when shtf.  Haha

ultraticum's picture

Who says you have to stay out of gold?  Anti-Statist money is a big enough tent for all of us:  gold and crypto are brothers from a different mother.

AyatollahOfRockandRollaaa's picture

I find it interesting that many of the folks who believe the Deep State monitors all communications and basically controls our culture through subterfuge and manipulation also believe that Bitcoin and other "crypto-currencies" are beyond the reach of that same Deep State.  I'll just keep stacking physical gold.

mvenalli's picture

cliff high bots buying 6 figure RVs on youtube hhaha theyr not hanging on i got news for you; putting aside the hacks; whats the current % of major holders vs the rest?

 

no one knoooowwws....

 

but we do know that%  before korea/japan/china opened up...

 

 

GodSpeed_00's picture

Gold is a joke, this isn't the dark ages. This is 2017, give me my magic, electrical, intagible, internet computer money please.

mvenalli's picture

/sarc

id cashout and put 40% back in, 40% in pms and oil, 20% debt

Mustafa Kemal's picture

"Gold is a joke, this isn't the dark ages."

Gold is definitely no joke, but we are headed into dark ages.

BTC is no joke either.

Long BTC, Au, Pb

maxblockm's picture

Gold is no joke. Now you can buy gold for BTC, but soon metals exchanges will figure out that they can send payment in BTC too.

Then you will be able to use gold to buy BTC.

 

JibjeResearch's picture

Gold?

Bawhah ahahahahahah

aardvarkk's picture

Gold WILL outlast any cryptocurrency, just as it's outlasted anything else.

However, right now, CCs are hot, and I'm the type of person who is willing to chase that.  I have PMs, but I have more in Bitcoin at the moment, and win or lose, I'm glad I do.

This Bitcoin ride reminds me a lot of the 2016 election with all the ups and downs.  If in the end it turns out as gloriously as that election did, I will retire independently wealthy into the Caribbean, never to be heard from again.

adr's picture

Wow, gold lost $50.

It was just over $200 when I bought $2000 worth.

 

Have you ever seen the normal Magic the Gathering card player?

That was your Bitcoin investor prior to 2013. Some guy traded 10000 Bitcoin for a single game card in the early days. I hope he became the envy of the basement fold up table with that purchase because imagine what $160 million would have bought.

douglas's picture

Since 2013... In fact I was one of the few that partialy agreed with fonestar (was that his knick? ). I´ve converted profits to physical Gold & Silver and even foreign real estate so many times along the way (I now have MANY times what I had 4 years ago)...  Yet no matter what I do to keep BTC at no more than 25% of my portfolio (when I started my target was only 2%), it rises so quickly that it´s become an almost imposible task...  I´m excited, yet I´m nervous and even scared...  I´m no longer sure of what to do... What a shame this did not happen when I was 20 instead of 50...

Honest Sam's picture

What I would give in limbs and dignity, to be called a complete and total fool, cryptard, or other jiggy epithet to have bought, with my go-to-hell fund in 2009, betting it all on the completely insane, foolish, screwball, notion of an ether based, 0 and 1 thingie, called Bitcoin. 

I think if it had a more sophisticated name, that gave it gravitas, I would have succumbed. 

 

aardvarkk's picture

I would have plowed every cent I had into it.  I'm ashamed of the comments I made to Fonestar (even if my comments were far from the WORST that were directed toward him in this venue).  Dude was right.  But at least I wised up before the current shot to the stratosphere.  At least I get to ride PART of the tornado.

Mango327's picture

So cute how all the Stock guys call Gold a useless mineral that does nothing, Goldbugs call BTC a useless token that does nothing. Crypto devotees call USD a useless piece of paper that does nothing. Round and round we go, to the moon!!!

aloha_snakbar's picture

I find it positively adorable how the cryptards think that their gaming tokens are so special that they are immune to human nature, common sense and physics....

aardvarkk's picture

Human nature is to buy things that are rising in value.  People are buying Bitcoin.  Seems only natural that Bitcoin will rise in price.

I find it positively adorable how people who oppose something without any real argument against what they are opposing find it sufficient to append the suffix "tard" to their opponent in order to defeat them.

Doesn't work that way, cupcake.

Mustafa Kemal's picture

" immune to human nature, common sense and physics...."

immune to physics? I dont get it.

My common sense told me to pick up a few a couple of years ago. Now, Im converting tops into Au. Its sure making sense to me.

Blue Dog's picture

I'm laughing at you all the way to the bank. My $2100 Bitcoin investment is now worth $5600. Once it's worth $10,000 or $20,000 I'll take out my original investment and play with house money.

Bitcoin is going higher faster than anyone has predicted. I thought a few days ago that it could hit $20,000 before the end of the year. Now I think it'll hit that in the next day or two.

maxblockm's picture

I don't know whose predictions you were following, but this is about what I expected following the analyses I read. 

Possibly 100k by the end of the year. If not, next year for sure. If this year, then 1 mil by end of next year.

aardvarkk's picture

Your words to God's ears.  I will have cashed out by then and have a life of luxury beyond dreams.

aloha_snakbar's picture

LOL...the bank? Do the banks in your quantum parallel universe transact BitCons? Because the ones in my reality do not...

Oh... and dont forget to factor in the 30% you will owe Uncle Scam in capital gains tax..

Mustafa Kemal's picture

aloha, 

long term cg %15. and you know what? Im reporting $0 cost basis to not have to do the bookkeeping

At these profit ratios uncle scam can keep my $15. Happily.

No, banks dont, but buying Au at Apmex and JM Bullion.

 

Its really not to late to change. You dont have to sell the farm, just pick up 1BTC - while you can afford it.

LawsofPhysics's picture

Yep, just be sure to pay your taxes on those capital gains!

DrData02's picture

Exactly what don't you pay capital gains taxes on?

Solosides's picture

The better question: Why are you stupid enough to report capital gains in the first place?

bottom_line's picture

Good thing the crowd doesn't know how to interpret a chart.

quadraspleen's picture

it's an even better thing that the crowd listens to Gartman

ConfederateH's picture

Listening to that warmist Tim Knight and giving Musk $3000 in deposit on your Tesla 3 is far more foolish than investing in bitcoin.

MonetaryApostate's picture

How about you invest it in....

AND... IT'S GONE!

Fake money, fake debt, fake value, fake news, fake investments, fake markets, fake history, fake leaders, fake events, fake elections, fake foods, fake medicines, yes fake everything!  https://plus.google.com/collection/QorNbB

atomic balm's picture

FAKE FAKERY!  everything jewish is fake. . .

Erek's picture

Now is the last good chance to get in because Gartman says it's gonna bust!

Gartman is the 180° wonder. Whatever he says, the opposite happens.

LawsofPhysics's picture

as soon as you buy Gartman will say "bitcoin is the future"...

ReturnOfDaMac's picture

Gartman going long BTC WILL make me sell.  Just the thought made me $hit my pants.

Automatic Choke's picture

what happens if you put Gartman in a round room and tell him there is a Bitcoin in the corner?

IH8OBAMA's picture

I like how the chart time frames are always cherry picked.  It would be nice to see a chart that has the entire story instead of just the story to support the author's point of view.

 

DownWithYogaPants's picture

Golden toilet paper!  

I need that for sure for my golden bungole.