At this stage it seems pretty easy for Musk to manipulate the price (of any token). When he buys in, the price surges. When he sells, the price collapses.
We are only a few weeks in
Still trying to get his bitcoin back:
Must be soo frustrating every time he is 5p short in the factory canteen 
Feel for the guy.
$0.1 million
Crypto concerns me hugely for the future.
I’ve only just started investing in bitcoin and I’m already up it seems the rise is unstoppable.
If crypto is an easy way to get high returns why would you invest in anything else? Why would you invest in business and recruit staff when you can easily make 10-15% just buying digital coins?
At what price point will Bitcoin get to before it’s so expensive that no one will be able to buy it and if it’s going up so quickly why would anyone sell their coins?
I’m not expert but I understand there is usually a 4 year cycle with bitcoin and other crypto that ties closely to other economic factors. I wouldn’t be surprised if it drops significantly below $100k again soon and it’s an incredibly volatile asset. You could see a sustained period where you lose money, more so then the stock market.
It’s no problem. Hard money existed before. It was called “The gold standard”,
The period from 1880 to 1914 is known as the classical gold standard. During that time, the majority of countries adhered (in varying degrees) to gold. It was also a period of unprecedented economic growth with relatively free trade in goods, labor, and capital .
95% of people will find any excuse to not invest in Bitcoin and will stay in their cages, don’t worry about that. See, this thread is an example. Mostly negative views and fear.
Why people fear Bitcoin and don’t fear to be forced to live in a eternal growing debt and fiat currency debasement system? Why will people work for peanuts the day inflation has made them all poor?
It’s very volatile, but volatility is a feature of price discovery, it’s reducing constantly (on the upside as well)
Anyway, it’s been probably answered a million times. If you can’t afford to stay invested at least 5 years and go through a 80% drop, stay away, or reduce the position accordingly. Same goes for any kind of volatile asset. Also past volatility is not equal to future volatility. Wait and see what happens, next decades with Gilts and such (or what happened in 2022 to all those “safe haven assets”)
LOL, concurrent replies. Thanks, I believe you explained it better
Out of interest what’s your view on other crypto outside of Bitcoin? I know there are the more “stable” coins but everyone still maintains Bitcoin is the only true option.
I would only trust Bitcoin. Depending on the timing. For holding any amount 5 years/a decade, BTC only.
I have despicable amounts in other cryptos, for gaming, etc. I’ve experimented with a few of the new shiny things that come and go (NFTs, stacking in DeFi pools, etc) but is not worth the hassle and the risk. A few months in and out with gambling money and never look back.
I’m the same I’m sticking to Bitcoin. I’m buying a small amount every month and building up a small stockpile as I go.
If bitcoin hits the big figures great if not oh well it’s a small loss.
What platform are you using to buy and how are you storing?
Id like to start buying regularly as well.
Strike is the best. They have a recurring buy option with 0 fees and free cold storage withdrawal option.
Take custody of your coin, look into hardware wallet. Buy from official website (Jade, coldcard, etc)
Anything else other than bitcoin is basically buying fiat currency on a blockchain - which is highly inefficient and mainly enrich the founders.
I’m using Revolut. I know it’s quite expensive but it’s a lot cheaper now with Revolut x. I wouldn’t even know where to start setting up my own wallet
Don’t need to worry too much short term, but in the long term, it is a must that you learn how to set up and use a personal wallet. There are many “software options” that are not that difficult to set up: Cake wallet for example, but there’s a lot more. When you master that, and if you plan holding a significant amount in BTC, I would advise a hardware wallet later.
I would strongly advise against leaving your Bitcoin in some exchange, or Revolut or whatever 3rd party. It’s going to be trouble at some point. If you feel uncomfortable, buy a small amount any AAA shit coin with low fees (Solana, for example) and use it to practice. Even a couple of them,Losing a few quids on any mistake you make is well worth it, long term.