Bitcoin crashing


#1

The price is now below £4300. I wonder if it’ll keep falling or bounce back from this. I don’t own any Bitcoin and wouldn’t touch it in all honesty. You could lose your entire investment, or double your money, the future of this currency is too uncertain IMO.


(Dave Smith) #2

I think it’s dying a slow death personally. Just my opinion though, don’t take this as advice


#3

The future of all cryptos feels as uncertain as it has ever been: very :slight_smile:

The related interesting question for Freetrade might be whether trading cryptos should be de-prioritised. Obviously the last 6+ months have seen prices fall over, weirdly low volatility, and imho no astonishingly good new use cases emerge, and but I don’t know if any of that means that interest in trading is cooling off.


#4

A crypto ETF on the stock market might be of interest but I don’t think one of those even exists.


(Emma) #5

Funny you should say that


(Vladislav Kozub) #6

Whilst not explicitly expressed, it seems that Freetrade has put much more emphasis on other key brokerage functions rather than Crypto (the latter used to be one of the top priorities in the past).

And it is great to see that the priorities are better aligned with the overall mission - sustainable accumulation of capital; not day trading.


#7

Would Freetrade be able to add this to their Stock Universe? If so, this might be one to recommend. An easy and quick way to get involved in the crypto space for those who are interested.


(Emma) #8

Only being traded on the Swiss exchange at the moment, so no.


#9

“Tokenised Securities” are getting a fair amount of attention and investment.

In theory they could provide a “secondary market” for unlisted securities, or a way to offer fractional shares in investments, such as properties, or diamonds etc.

Although you would need a central authority for AML/KYC so they would not be fully decentralised.

But it’s still crypto.


#10

It’s now below £3800. I wonder how low it’ll go :open_mouth:


(Alex Sherwood) #11

Yes it’s arguably not the best time to launch cryptocurrency ‘investing’ -


(Chris) #12

Conversely you could say it’s the perfect time. If you think they’ll bounce back.


(Alex Sherwood) #13

If that’s the general consensus & it’ll help drive sign ups etc…


(Viktor) #14

The number of community members who asked for crypto in the past about nine months is around zero. We entirely stopped getting emails, tweets, etc - virtually overnight. The sentiment change is one of the big stories that the media, with a few exceptions, missed in my view.

Our ops team will check when they get a chance. :+1: Definitely not soon, as it sounds like it will be in the Swiss Exchange.


#15

How interesting! It would be interesting to see if there is a correlation of market performance to excitement/wait list signups/something for other things like, er, stock markets.


(Kenny Grant) #16

If they were being widely used as currency, not investment assets, I’d agree they probably would bounce back, as it is I’m not sure many of the current crop will survive as the mania dies. I think Freetrade should put them on the backburner for now.

I think the world needs and wants currencies separate from nation states, and their time will come, but I’m skeptical that Bitcoin or derivatives will be the answer. They solve the wrong problems (distributed trustless consensus and how to bootstrap a currency) in ways that make it hard to solve the essential problems (trusted counterparties, stable value, low fees, independence).

For stock markets I’ll bet there is a correlation with nobody wanting to invest when they are down. Freetrade’s task over the next year is to persuade people this is the ideal time to invest.


#17

I think they shouldn’t be dismissed in terms at least speculation / risk appetite (small portfolio % for adventurous investors). The main 5-10 assets that have volume and are widely supported IMHO.


(Tommy Lowe) #18

Bear in mind that it’s made up of 50% Bitcoin, you’ll have to decide if you want that much exposure. Oh and it’s got a rather high 2.5% annual management fee.


#19

The price dropped below £2900 overnight.


(Big Boss) #20

This tweet is pretty insightful…