yuppp. so i had a bitcoin alarm set back in like, 2013 or whatever, but i set it too sensitive and it was forever going off and i ignored it. anyway one weekend in the middle of the night everyone thought china banned bitcoin and also everything bitcoin related got ddos'd
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BITCOINWISDOM IS DOWN, ALL IS LOST
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anyway i ignored the alarm same as always and missed out on some craaazy trade movements. no further casualties, just opportunity loss. still tho
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but yeah i'm with you. i looked at my manually-managed etrade portfolio since everyone was panicking and i'm just like, hmm wow yep, that is a lot of red
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which means absolutely nothing to me really, same as it being up quite a bit a few days before in intraday meant nothing. i mean i *noticed* it but i don't daytrade this portfolio—that's not what it's for. it's not supposed to be liquid so its value is just a smoothed upward line
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More like a coffee break
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With stock I'd say "The stock is on sale, it's a great time to buy." W/ Bitcoin there's no inherent value (compared to a company w/ revenues, products, etc.) other than the idea that "crypto is the future". All just currency i̶n̶v̶e̶s̶t̶i̶n̶g̶ speculation right now.
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Even if bitcoin lost or gained 90pct value, it is a buy. Always a buy. Remember Amazon 20 years ago.
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5% is normal for the Dow also. Historically, it's happened every 90 to 120 days.
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