Member Info for lunq

Asset managers around the globe are losing confidence in the dollar, encouraging them to seek out inflation-resistant investments for their clients. A new survey of global fund managers reveals that Bitcoin has climbed in the rankings of “most crowded trade” beating out traditional investments like gold and bonds.

Bitcoin was third on the overall list of options for the category, named as the busiest trade by 15% of survey respondents. Only tech stocks (52%) and short dollar positions (18%) ranked higher.

Continued:
https://cointelegraph.com/news/bitcoin-the-third-most-crowded-trade-in-global-fund-manager-survey

Mathsman in disbelief

I’m going to put my neck on the line and double-down on the prediction I made last Saturday, by saying again - Bitcoin will break 20K during this weekend ;)

Bears in disbelief.

There's been a Covid hard fork. New tokens are currently Lockdowned and will be Airdropped to all users. Metamask is recommended. Tokens must be claimed by 10pm.

DS, Just watched the video and I agree, a shortage of mining equipment + covered costs definitely supports your theory. Onchain data (although I cannot vouch for the accuracy) also suggests miners are not selling but are holding:

https://imgur.com/a/gvR6rM0
From: www.cryptoquant.com

What we could do with is Boris Johnson and co advocating blockchain/distributed ledger technology instead of banning crypto related investments. It’s perfectly fine to have gambling slot machines in every pub and high street, but speculating on crypto is discouraged! We are meant to be the fintech capital for god sake.

SS10 sounds like the name of a rocketship. Destination: Moon
:D

If any FUD news articles start appearing in the coming weeks/months, make sure to buy the dip. It's all deliberate FUD designed to shake out the weak hands noobs.

Just like the Mount Gox news appeared on the 8th December when BTC already started dropping in price.

Just like Brian Armstrong's tweet regarding KYC-ing of wallets on 25th November when BTC already started dropping in price.

Coincidence? I think not. (((They))) want your Bitcoin. Don't give it to them!

Thanks Trigger, I didn't realise there was a channel for Argo, perfect!

Hi lads, do you know of any decent Telegram channels which discuss stock markets? Getting tired of all the crypto ones.

I didn’t know Matt Lucas was into Bitcoin :D

Once we break 20K, there is no turning back. Fill your boots with as much Argo or BTC as possible before it happens.

The stars are aligning, and absent of any black swan events (alien invasion; WW3 with China; people growing 2 heads as a result of Covid vaccine), 2021 is set to be a great year.

BTC will surpass 20K in approximately one week from now ;)

Bouncing downwards lol

Bitcoin can drop 30-40% and still be considered a store of value in the same way that Gold is also volatile and has witnessed similar drawdowns. A 30-40% drop in stocks is a once in a decade crash, but just a bad week in crypto.

All the people you mentioned have bought their positions and are now signalling to their peers thats "it's ok to buy this funny money" .

I'm bullish not so much that they have bought Bitcoin per se, but the fact they are now very vocal about their positions. Crypto price movement is largely about narrative and we have the beginnings of a great story. It will end when the normies arrive. They are not here yet.

But gradually over the next year or so, they will enter and likely FOMO near the top/all time high. The ones who don't understand how, or dont want to buy the real Bitcoin, will search for 'Bitcoin' or 'Blockchain' in their brokerage accounts and buy Argo Blockchain/Riot Blockchain as a proxy - this is when we will see the real (final) parabolic price movements.

When taxi drivers start giving you crypto tips, when your granny starts asking about Bitcoin, when you see Bitcoin being mentioned on BBC everyday... that's the time to think about selling.

Alright I'm logging off from here. Good luck everyone with whatever you're invested in. My advice, whatever it's worth, is to stick to what you know, invest with conviction, and don't be in a rush to be vaccinated :)

Mathsman's previous concern, rightly or wrongly, is that Bitcoin could drop to $8000. As I alluded to in a previous post, it makes little sense to be holding Argo as an investment if one believes that to be the case.

A drop towards $8K is approximately -55% from current levels, and Argo, like many other Bitcoin miners would likely dip even more. But each to their own.

"Hey, lung - we heard you first time!"

You said you were an old boomer, so I thought I'd repeat myself in case you didn't hear me the first time :)

“ My concern when the bit coin starts falling in a bear market this shares are like a bag of you know what”

If you are concerned “the bit coin“ is going to dump, then it’s probably not a good idea to be investing in Argo, since it’s a leveraged play on BTC price (similar to gold and gold miners).

lunq is a retail pleb making investment decisions from his mother's basement. Whilst he has never managed money on a professional basis, his portfolio can also be described as "very large", but of course, size is subjective (just ask his girlfriend).

He is aware that there is no "one size that fits all" style of investing as people have varying degrees of experience, risk tolerance, portfolio size, etc, but he understands from personal experience that making concentrated bets with conviction is the best way to grow one's capital. He is a fan of the adage that diversification is for people who don't know what they are doing.

He also recognises that everyone is human and prone to making mistakes, but when he knows he is wrong, he cuts his positions quickly and leaves his winners to ride.

lunq is rumoured to be an early crypto adopter and understand the market very well. He is said to be building a position in the Bitcoin mining company Argo as a leveraged play on BTC, and is familiar enough with market psychology that he will begin selling his position when the local cabbie starts giving tips on buying Ripple.