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Strategies & Market Trends : CFZ E-Wiggle Workspace -- Ignore unavailable to you. Want to Upgrade?

To: skinowski who wrote (40242)	6/16/2024 5:48:19 PM
From: Perspective	Read Replies (1) \| Respond to of 41469

I wish I'd have taken BTC more seriously years ago, but I suppose I'm just stuck to the old Buffet adage, " Never invest in a business you cannot understand." What I now recognize is that BTC is possibly the purest form of technical price behavior possible. There are absolutely no fundamental valuation issues whatsoever. No revenues, no earnings projections, no dividend. People buying BTC buy for no other reason than they think it will go up. It's a collectible that has become almost impossible to make more of. It's a double-edged sword, though. There's nothing to hold back a run to the upside, but there's also no fundamental floor. It is an interesting technical juncture - a base on the edge of a multi-year base. The depth of the base is disconcerting - it's already quadrupled off the low - but it has made plenty of explosive moves in the past.