I met my accountant yesterday. She said a client of hers was trying to 1031 one cryptos to another.
Is $6000 the bottom? $5000?? $1000???
My guess is 5k
“Momentum is actually something simple,” he says. “If things go up, they continue to go up on average, and if things go down, they continue to go down,” at least in the short run. Momentum has been documented in mainstream assets like stocks, bonds and currencies, and Tsyvinski says the pattern holds true in cryptocurrencies.
In fact, the best historical strategy would have been to buy bitcoin after its price already had a sharp increase — 20 percent in a single week — and sell just seven days after buying, Tsyvinski and Liu concluded.
Following that strategy, “the investor would have made an 11 percent [return] during the periods we looked at,” Tsyvinski explains. The momentum effect was stronger for bitcoin than for ether or XRP, although still statistically significant, according to the report.
Hell no. Has it flatlined yet? It’s not going to pop back up all of a sudden.
The real winner in bitcoin:
Crypto mining giant Bitmain on target for $10B revenue this year | TechCrunch
Bitcoin market cap is only 222B. In 20 years, all the bitcoin value will be consumed by the mining equipment. This company has a limited lifetime
I have a feeling the founder doesn’t care much for your opinion.
Omg, will this politically incorrect tweet get his IPO cancelled?
It will get him elected president.
Ether Tumbles as Concern Increases That ICOs Are Cashing Out - Bloomberg
Ether, the cryptocurrency of the distributed-ledger network, tumbled by as much 17 percent Monday, the biggest drop since March. The price slumped to as low as $285, pushing it below $300 for the first time since November. The digital coin is down about 60 percent this year, compared with Bitcoin’s 54 percent slide.