Crypto Currencies

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2024/10/17 (looking as though I've had it right so far)

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2024/05/21

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2024/03/04

BTC is King as it is digital gold. My prediction is 80-90k by or before end of this year, by 2030 over 1M$ The mining stocks will benefit nicely. I was once of the belief that it was not going to hold up, but so many financial firms, institutional investors and official entities have adopted it that it has grown to the point of becoming valuable to the masses. There's no longer any doubt that it is the new gold.  If you are new to Crypto currencies, do some basic research.  There are many and not all of them will survive.  If you want to invest in Bitcoin, there are multiple ways to buy it, both out of and in tax free accounts.  You can buy shares of it via for example an etf, one which I own and started with at 3.26$ CAD is BTCC.TO and there are several others out there.  There are also companies which manufacture Bitcoin such as MARA , CLSK , RIOT and others which hold it for investors like COIN.  I own shares of those as well.  Getting back to Bitcoin, if you want to follow its evolution, you can find it on the stock market exchange under the ticker BTCUSD and you can view it on most platforms with a few exceptions where it cannot be found such as within Questrade because it is not traded directly within.  Here are a couple of links :

https://www.tradingview.com/symbols/BTCUSD/?exchange=BITSTAMP

https://www.marketwatch.com/investing/cryptocurrency/btcusd?mod=watchlist_ticker

Here is a chart of how I believe it will play out for the year which I plotted a line for 2024 on since last November :

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Quick update 2021/06/28 :

Just to add to the last paragraph, all the tools I refer to and use are basically indicated on my website pages.  I also share my portfolios lists with live tickers, live prices and average target prices, the potential percentage of profits which can be made with each, as well as proportions in my portfolios.  Since the above post, I have added another 30% + since Oct. 2020 bringing me to 55% + since Oct.  My Oct20-Oct21 goal was to make at least 50%.  Looks like I'm there for now.  If you want to know where I'm invested, check out my Google Sheet.  I am constantly updating it when I sell a stock.  As prices reach near to the average price target on some, I may sell completely unless I believe the company will be more successful than the price targets indicate.  Watch the proportions as they are somewhat indicators of where I'm more invested.

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2021/05/21

I can barely hear what I'm listening to or understand what I am reading sometimes these days, because no matter what anyone is saying, the volatility in the market since February 2021 has been making just about everyone crazy.  While indexes are green, most stocks we love are red and when the indexes are red, those same stocks are often more green than red. There's a huge discrepancy these days, it's just illogical that tech is going down because tech is the future and the reason why I'm talking about all this is because one big reason I feel the stocks are dropping for is because of too much influence towards buying crypto since the beginning of this year.  I have been saying this for almost two months and it seems that certain other people may be thinking the same which is why cryptos took a heavy drop lately.  My opinion is that Bitcoin isn't even an actual currency, it's just a bank account that started out at zero and built up with each deposit. Eventually, it and every other crypto currency will crash.  The only way BitCoin or any crypto will become a real currency is if a Government of any country decide to acquire it entirely! Otherwise, it's (they are) all just a bank account everyone is either depositing in or withdrawing from.  You don't want to own it when people start taking all their money back!

 

My impression is that all those cryptos are doing is fooling people into believing they will get rich and keep making huge profits, and this is hindering the stock market and potentially putting a lot of businesses and jobs at risk of disappearing, because they have no fundamental value, meanwhile people are selling stocks since February and putting a lot of their money into crypto currencies. The only ones really making any profits on crypto are the mining companies and mostly coin exchange platforms who are charging fees. Crypto is not going to gain value of itself, businesses would, except by the looks of the market right now people were selling stocks to put the money into crypto...and ok some money into value stocks...and I think both will eventually turn around again...that's probably already happening as I write this. What good is putting money into crypto for the world? I'm sure a lot if not all people buying cryptos will have a lot of ideas.  Think of this though, when other people put money in banks, my bank for example, my account doesn't go up. Plus, the crypto exchange platforms are lending your money out, putting your money at risk on top of it all without any insurance to you...you may lose and not get any of that back.  So, not only is your money at extremely high risk, but so is the economy if this keeps going.

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Right now, people are believing a lie they cannot see.  Sure, it's overwhelming when you see your money increasing in value.  Here's the thing though, when people put money into a crypto currency, they are putting their money into a one global account owned by all the people who are also putting money into that same crypto currency.  Consequently, the global amount goes up, but not the intrinsic value.  There is no real fundamental value, the coin only exists on a computer somewhere and cannot physically be obtained.  What will happen to your coins if those computers break down, burn, fall into a crevasse during an earthquake, etc.  Ok, ok, real coins could fall into that crevasse as well.  But wait, what happens when people start pulling money out of crypto!?  That's riiiight, your coins will lose value...and likely in the long run go down lower than what you paid if people start fleeing that type of market.  Not to mention, every new crypto currency pulls the attention away from the previous ones...and a vicious circle is growing around it all.  These days a new crypto currency comes out every second week!  Sure, some people will make money if they're in and out fast enough, then again maybe not, but any of that profit is off the backs and out of the pockets of others, not from an actual business producing goods or services and turning a real profit and adding value to the world, because we also have to think about the carbon foot print of these super warehouses with all the needed computers to store cryptos.  They may not be very eco-friendly.  That's all I will say on that subject.

 

Business stocks are where people need to put their money so that the economy can survive, so that jobs are created and in turn make both the business and investor profit while keeping people working and getting paychecks.  Lately, it looks as though nobody realizes that and ignore the dangers in the crypto world, because the curtain of greed is over their eyes...and so long as they keep putting money in crypto, the stock market will suffer and consequently the entire economy in the long term.  Good luck finding jobs when too much money is in the crypto banks and people start pulling it out because that's all they have left to live on... 

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I was up 400% before the correction started in February, now I'm over 200% in about 18 months and every day except one or two for over two weeks now have been only red days. I'm recently retired at 53 and was beginning to see my savings go down because of all this.  It does seem as thought some people have woken this week though. 

 

Stop dreaming people, crypto is not the answer to a market correction or crash and certainly not going to help avoid one if everyone keeps selling stocks to put money into crypto. Long term, stocks will outperform crypto, eventually there will be a crypto turnaround and people will lose big...just no idea when this will happen, but I believe it will and I hope it happens sooner than later so people don't lose more than they should and the market and economy don't crash and we all end up in a huge recession or depression! Businesses need to survive for the world to survive. Keep putting money into crypto and see how that works!  I'm only invested very conservatively in a few mining companies, but I'm putting my money where real profits are and where companies will be able to survive so that our children and grandchildren and further generations still have a good economy.

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Anyone looking for some basic and super tools, take a look at my link for free access to

my entire Portfolios Tickers lists with live prices and average price targets across all analysts, all for free...and each ticker is a link to the stock's overview page on MarketWatch. I managed to pull over 200% in less than 18 months, was near 400% before the correction started, yet still up over 25% and rising since Oct.  Link to lists right here as well as on a couple other of my website pages : https://docs.google.com/spreadsheets/d/e/2PACX-1vS5BxVe9VewuaNVOqDG-CqW9DFxUeWA1SQQQHu8nSSH9XUMDg99A9bijFf-kUW7OVhjJAHRXeBs2qJj/pubhtml?gid=0&single=true

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Cheers!

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