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Bitcoin US Dollar (COIN:BTCUSD)\u00a0 Trading around 87,244 at time of writing.<\/b><\/p>\n
“FTSE” “SP00” ‘We’ve a slightly complex relationship with crypto currencies as it usually seems like most people lost money on, in the instance of Bitcoin,\u00a0 fantasy product which has climbed from below 2,000 dollars back in 2017 to a high of over 125,000 dollars this year. This represents a rise of roughly 6250%, fairly impressive. But unfortunately, the problem with Bitcoin is it has no definition of value. While it is easy to define the Moon as being 4,136,000 miles away or a UK Politician as being just a fake consultancy away, crypto currency provides no such hard and fast rules to give an idea of its real value.<\/p>\n
For instance, had anyone bought a Range Rover with Bitcoin back in October for $125,000, the vehicle would now be viewed as worth less than $90,000 had it been used, though this is probably substantially above the real value of a Range Rover, notorious for their savage reliability and depreciation. Equally, anyone feeling smug about selling their McMansion for 10 Bitcoins back in October is probably walking funny, now realising their clever sale is worth roughly the same as a 2 bed terraced house in Hackney, complete with parking battles. But of course, anyone involved in either scenario risks exposure to a capricious government, eager to tax anything they can, regardless whether they understand what they are doing.<\/p>\n
It is certainly a strange observation, the realisation crypto can never be safe until such time it enjoys an official way of measuring it. Gold, for instance, can be safely measured again the US Dollar, a regulated instrument which is exposed to the covetous behaviour of governments, eager to bloodsuck their perceived share of any transactions. It is a someone invidious position, knowing\u00a0 crypto can only survive below the radar, if it remains free of regulatory interference but unfortunately, this lack of regulatory intrusion strongly contributes to the volatility of Bitcoin.<\/p>\n
But of course, until such time we can define a Bitcoin as being worth 1 x Westminster MPs, 10 x City Councillors, a Range Rover, or a block of flats AND a shopping mall in Campbeltown, Argyll,\u00a0 it effectively has no value other than that attributed by the market during a given trading period? Since the October high of 127,000, the recent trip down to 80,000 must be scaring punters silly as reversal of 37% is worth devoting some thought to. While visually the situation isn’t terribly bad at present, the product price is below the closing level uptrend since 2023 and thus, worthy of some frightening consideration. There is now a pretty big issue if the value of Bitcoin dribbles below 80,500 as reversal to an initial 73,900 looks possible with our secondary, if broken, down at 61,675 and a return to the price levels of 2024.<\/p>\n
Visually, this scenario makes quite a bit of sense. The value of Bitcoin needs exceed 93,000 dollars to escape such a doom.<\/p>\n
Then again, this is Bitcoin, the monster of illogical behaviour!\u00a0 While reversals look inevitable, we shall not be aghast if it exhibits surprise gains, maybe caused by the UK changing interest rates to somehow allow expenditure on properties. How could this happen?<\/p>\n
Form a “limited company” whose assets are a series of properties. Sell ownership of the company, along with its assets, and you neatly avoid ridiculous Stamp Duty, another government attempt to extract taxation from initiative. In fact, if the “limited company” is listed in places like the Isle of Man or Barbados, it’s pretty hard for “Rachel from Accounts” to fine you for initiative. A surprising number of accountancy firms are not only aware but also experienced in off-shore property dealing.<\/p>\n
Should Bitcoin exceed 93,000 dollars, movement up to an initial 105k look possible with our secondary, if beaten, at a brand new all time high of 138,000 dollars. Which is pretty nice for a product which effectively is worth nothing!<\/p>\n
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