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[–]SoCo[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

I've remained pretty solid on my outlook for quite a few years. The value seems to be holding pretty well steady at $30K to me. There is many ways to look at that value; It is -30% from last year, but +300% from 2 years ago, and +1500% from 5 years go. The perspective that matters, depend on how long your investment position is.

I consider the massive, growing, yearly credit card fraud rate directly a result of the fundamentally insecure design of credit cards, based on a 1960's security-less concept, then 1980's era half-assed update. Crypto does not have this inherent design flaw. People can see your card number and authorized transaction, without copying it. While people can still be defrauded of crypto, it will not be due to fundamental flaws in the transaction system's design its self. Without that fundamental flaw, I'm not sure I'd expect credit card companies to pay for mistakes squarely of users. With crypto, there is no company getting rich, by duping people into using an insecure system, so there is no one to hold liable for user mistakes.

Profit taking is a rational part of investing. Yes, I took a portion of profits out, reported them on taxes, and really wasn't hit bad at all by it. Now, I can say I made (a humble) tens of thousands in profit (from my humble investment of $20-50 per paycheck for awhile early on), even if it goes to zero now; Can't lose.

The world economy is crashing. Current stocks and most assets are very irrational right now. Buying stock dips and the crypto dip is quite an opportunity for those fortunate enough to be able to do so. I expect this crypto dip to be temporary, but I am very patient. On the long run, most of these stocks that crashed were hugely, massively, overinflated in value, thanks to massive debt, encouraged by so very long of low interest rates; most will never recover that value again fully. Crypto on the other hand, may have been overpriced for the current time and current uniquely dire world economy situation, especially due to inflation uncertainty, but I consider it's current value extremely too low for the long term. It's still in its infancy, leaving its value to be not yet fully realized and to be extremely volatile. I expect volatility to seriously calm and the value to seriously rise over time, as adoption increases, the crypto system expands and matures, and common market tools such as those silly trading things like index funds, futures, options, and the such, pin the value to the value of other things; these types of market tools are what helps stabilize most stock values.