Rolex and crypto

[Quaress]

I am planning to sell all my crypto and buy a PM Rolex, but I have plenty of time, +- a 1 or 1,5 year.

[deeman54]

Originally Posted by forg

There is no real connection between Bitcoin and watches

but one could argue with the rise of crypto (a currency non the less) has driven the watch market (not limited to) up due to increased spending. Just my point of view.

[JSolution]

Originally Posted by deeman54

but one could argue with the rise of crypto (a currency non the less) has driven the watch market (not limited to) up due to increased spending. Just my point of view.

Bitcoin is at an ATH and watch prices are on the floor…

[deeman54]

Originally Posted by JSolution

Bitcoin is at an ATH and watch prices are on the floor…

true but covid also had a big factor to play. Spending, especially e-commerce sky rocketed. We will have to wait and see.... whats your take?

[JSolution]

Originally Posted by deeman54

true but covid also had a big factor to play. Spending, especially e-commerce sky rocketed. We will have to wait and see.... whats your take?

My take is the Bitcoin is performing extremely well - I believe it’s been the leading asset class something like 11 of the last 15 years? Don’t quote me on that.

Again I Believe watch prices are completely irrelevant in to the crypto market.

Which should be quite obvious given my previous statement :)

[superpop]

Rolex is nothing more than a nice piece of jewelry, a fashion statement. It is not a financial instrument. In the world of fashion, things can go from hot to cold very fast. Couple this with the flex culture craze that was hot for a while and you get what we had over the past several years with Rolex values. Flex is now becoming "uncool" as it is seen as tacky. Excess is cool and then loathed and round and round we go.

[Quaress]

Another 15 years and bitcoin will pay you at least 50 a PM Rolex watches.

[fsprow]

All markets go up and down, often for reasons that aren’t fully understood. It’s fun to speculate on reasons, but it will likely be several years before this all sorts out.

[brandrea]

Originally Posted by Harry-57

I blame the parents.

It could also be something to do with interest rates and what has caused them to go back to more realistic levels. There's no such thing as free money and the illusion of it can't last forever.

Agreed

When interest rates go up and hard assets go down. The inverse happens when there’s lots of “free” money.

[George H.]

Crytpo does not have such a strong link with the price of Rolex as say interest rates, unemployment rates, CPI, and consumer confidence. How can we be sure due to the crypto surge people bought Rolex? What about other investments such as stocks, bonds, ETFs, or real estate? I bought my wife's Rolex with the proceeds from the sale of Moderna (MRNA).

[deeman54]

Originally Posted by JSolution

My take is the Bitcoin is performing extremely well - I believe it’s been the leading asset class something like 11 of the last 15 years? Don’t quote me on that.

Again I Believe watch prices are completely irrelevant in to the crypto market.

Which should be quite obvious given my previous statement :)

Fair point


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[Krash]

Originally Posted by George H.

Crytpo does not have such a strong link with the price of Rolex as say interest rates, unemployment rates, CPI, and consumer confidence. How can we be sure due to the crypto surge people bought Rolex? What about other investments such as stocks, bonds, ETFs, or real estate? I bought my wife's Rolex with the proceeds from the sale of Moderna (MRNA).

I wholeheartedly agree. Like I said above, I think the stock market is a much bigger factor. Significantly more people invest in the stock market than crypto. It’s not even close.

And you’re right about interest rates, CPI, unemployment, and things like that. Those are huge factors, too.


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[Kevin of Larchmont]

Originally Posted by 4reRlxGuy

The covid watch craze IMHO was fueled by a perfect storm. Cheap $, free PPP $, people stuck at home with nowhere to spend $, and a lot of hype (watch asset returns beating wall street and real estate).

A lot of words on this thread. This post is the most succinct distillation.

[goldboy]

Originally Posted by JSolution

Im a crypto advocate.

However, there is zero correlation between btc and watches.

+1

Kind of weird OP doesn't understand that. There's zero correlation between BTC/crypto and Rolex or any watch brand.

Crypto, watches, real-estate, used cars, my home air purifier and many other items went up in price due to excessive quantitative easing from our broken banking system.

[DoubleDeac]

Originally Posted by George H.

Crytpo does not have such a strong link with the price of Rolex as say interest rates, unemployment rates, CPI, and consumer confidence. How can we be sure due to the crypto surge people bought Rolex? What about other investments such as stocks, bonds, ETFs, or real estate? I bought my wife's Rolex with the proceeds from the sale of Moderna (MRNA).

Yeah, I guess the gist of it here is that correlation is not causation and unless we did a study we wouldn’t know. However, common sense dictates that Rolex watches and Crypto (while patterns may indicate a correlation) do not have a causal relationship, much like women’s skirt lengths and stock markets don’t have one either (hemline index)

[zengineer]

Originally Posted by shirtguy

Now that crypto is at its high why didn't we see the prices rise again?

Because the rise and fall of bitcoin wasn't then and isn't now a significant driver. Very few people, including Rolex buyers, have bitcoin as a significant holding.

Correlation is not causation.

[Marcjvr]

Originally Posted by Yup

Who cares? I came here for watches go somewhere else for cryptocurrency talk

Seems like you care else you would not have responded. Next time may I suggest just ignoring threads you don’t like

[watchwatcher]

Originally Posted by omar-rye

...well doesn't that answer or debunk your first theory, observation, or whatever you want to call it?

Yeah, pretty much.

[JSolution]

Originally Posted by zengineer

Because the rise and fall of bitcoin wasn't then and isn't now a significant driver. Very few people, including Rolex buyers, have bitcoin as a significant holding.

Correlation is not causation.

I have one friend, his portfolio absolutely terrifies me. He sold all of his real estate to put more in at the bottom of the market. It’s paid off for him but wow what a gamble certainly not for me.

[acorn]

Originally Posted by Marcjvr

Seems like you care else you would not have responded. Next time may I suggest just ignoring threads you don’t like

Silly thread and very bossy reply.

[HHIslander]

Crypto threads never ever end well.

[Quaress]

Originally Posted by JSolution

I have one friend, his portfolio absolutely terrifies me. He sold all of his real estate to put more in at the bottom of the market. It’s paid off for him but wow what a gamble certainly not for me.

It is not such a gamble, the maximum number of bitcoins is 21,000,000 and now there about 93,6% in circulation. If every millionaire in the world wanted to have at least 1 Bitcoin, he has no chance of getting it. In a few years it will be from $1 million and up. Way better than gold and we're just getting started in the whole Cryptocurrency.

I have made several million dollars in cryptocurrencies. Cheers.

[JSolution]

Originally Posted by Quaress

It is not such a gamble, the maximum number of bitcoins is 21,000,000 and now there about 93,6% in circulation. If every millionaire in the world wanted to have at least 1 Bitcoin, he has no chance of getting it. In a few years it will be from $1 million and up. Way better than gold and we're just getting started in the whole Cryptocurrency.

I have made several million dollars in cryptocurrencies. Cheers.

Good for you although a little too much info …

I’m a strong advocate but I stay reasonably conservative :)

[Quaress]

Originally Posted by JSolution

Good for you although a little too much info …

I’m a strong advocate but I stay reasonably conservative :)

Sometimes i take things about cryptocurrencies too seriously.

[Auto16610]

Now that tik tok is banned I believe Rolex prices will spiral down by 50%.

[GrailTime]

Rolex prices were on the way up pre COVID.

During COVID, people with money were working from home and not able to spend money on holidays, nights out etc. They sit at home and they watch youtube, browse instagram and are told that Rolex and luxury watches are a great investment vehicle.

You combine this with the reduction in Rolex stock, due to COVID, and all of a sudden you have these crazy price rises.

Bitcoin may be a factor too, but was all the government money that went to people, as well as low interest rates.

[Robf52]

Originally Posted by Yup

Who cares? I came here for watches go somewhere else for cryptocurrency talk

This.

[alphadweller]

Money poured into watches as a short-term investment is what caused prices to soar exponentially. Looks like those "investors" have abandoned the idea of making a quick buck.

[gamingdoctor]

Originally Posted by Blanch

Social media is dying down and people are posting less and less photos flexing a "luxury lifestyle."

Social media use has never been higher.

[z train]

We're heading into the 4th major bull run for crypto since 2013. Only one time has it been lockstep with watch prices going up majorly (2021)

I'm really leaning towards the COVID lockdowns, government stimulus and people being cooped up in the house being the catalyst for the 2022 watch peak and not cryptocurrencies.