Will The Bitcoin Rise… Rise The Watch Market?

[oo7ml]

Hi,

One variable for the rise of the watch market during the pandemic was arguably the rise of cryptocurrencies.

Bitcoin is potentially days away from reaching it’s all time high.

Will this have an impact on the watch market again… or has the decline in the market over the last 2 years made the ‘causal watch enthusiasts / crypto traders’ more sceptical and more conservative about watches, and the market this time around?

[Easy E]

I doubt crypto will plug the watch market leak.

[supernova]

I personally think it will affect. As crypto, and markets in general, soar means more liquidity out there. Alot of the "hype" in the past years was due to younger newcomers to the watch market which a large portion get theirs funds from crypto. I do think the decline in the past 2 years was linked to the markets as liquidity ran out to make the bubble bigger.

[EEpro]

I'm gonna say no based on my personal experience. I'm up x00% now and wouldn't think of pulling it out to buy a watch. I sold 3 nice watches and bought more GBTC in December/January.

[Jets_fan44]

@EEpro, congrats on the win Saturday night against Michigan state. Looking forward to see what Zach does in March madness

[1William]

With prices down on watches and Crypto up the opportunity to diversify and buy watches seems like a good place to be for some of the Crypto profits. The key would be identifying the right watches and brands for a purchase. While watches have dipped that will only be for a moment and then they will creep back up. Maybe not to the levels we saw initially but one thing is for sure, nothing is going to get cheaper in the long run. Especially luxury watches.

[Maleg]

The demographic that saw watches as a commodity are notoriously capricious and mercurial. I don’t think they return to watches in the large numbers that drove the bubble. That ship has sailed. They are on to the next big thing.

[Redfoot]

I noticed BLNR are sitting in classifieds here more now- there was one for $15,300 (cannot find now) and BNIB for $16,300. That is quite a dip off the highs of +$20k I remember seeing. Some dealers are still holding at the higher prices, so will be interesting to watch that as Watches & Wonders occurs- some might be waiting to see what new releases will show.

[JC316]

No, not this time!

[EEpro]

Originally Posted by Redfoot

I noticed BLNR are sitting in classifieds here more now- there was one for $15,300 (cannot find now) and BNIB for $16,300. That is quite a dip off the highs of +$20k I remember seeing. Some dealers are still holding at the higher prices, so will be interesting to watch that as Watches & Wonders occurs- some might be waiting to see what new releases will show.

I wouldn't read too much into that. They are flying off the shelves at the TS dealers. Selling on the forum means little since people don't trust peer to peer deals as much.

I've routinely had watches sit unsold only to sell to a TS and they resell in 2 days at +$2,500.

[brandrea]

Originally Posted by EEpro

I wouldn't read too much into that. They are flying off the shelves at the TS dealers. Selling on the forum means little since people don't trust peer to peer deals as much.

I've routinely had watches sit unsold only to sell to a TS and they resell in 2 days at +$2,500.

Same experience here. You’re always going to get less as a private seller

[hambone1983]

the total value of the crypto market is about 2% of the stock market. While a couple of them have done great lately, the whole thing has probably generated about an approximate increase in wealth in the last year as Nvidia alone

[Maleg]

Originally Posted by EEpro

I wouldn't read too much into that. They are flying off the shelves at the TS dealers. Selling on the forum means little since people don't trust peer to peer deals as much.

I've routinely had watches sit unsold only to sell to a TS and they resell in 2 days at +$2,500.

I watch the websites of the more famous TS’s and they are not flying off the shelves. Watches sit for a long time. If they were car dealers the floorage would have put them out of business.

[EEpro]

Originally Posted by Maleg

I watch the websites of the more famous TS’s and they are not flying off the shelves. Watches sit for a long time. If they were car dealers the floorage would have put them out of business.

You're replying too far from original topic so you can be right.

[Maleg]

Originally Posted by EEpro

You're replying too far from original topic so you can be right.

Your post was generally applicable to the topic, as was my reply. You can just admit you swagged it and were wrong.

[EEpro]

Originally Posted by Maleg

Your post was generally applicable to the topic, as was my reply. You can just admit you swagged it and were wrong.

Wrong. My comment was about BLNR and how quickly the TS here seem to move them. Nice try

Boy I never noticed the market had slowed down. Thanks so much for educating me, Maleg.

[Tricolore66]

I think a lot of the run up in the watch market over the past 4-5 years was crypto profit taking and people putting that funny money into a tangible asset.

[BraveBold]

Correlation not causation.

BTC and other speculative things all rose together with excess money supply. Simple. Money supply is retracting today but crypto has undergone speculative consolidation after majority of the market (by number) was decimated. So now most are back to speculating on the big two only (also happily the two I have owned for roughly a decade).

Wait and see after the next halving event where it all settles…

But I don’t see any meaningful impact on the watches market FROM BTC movements.

[Krash]

BTC is easier to invest in now. You can do so via ETFs. For example, IBIT from BlackRock. This introduces BTC to traditional investors (like me).

I’m guessing BTC will go higher because of this even though I think it’s been down the last couple of days. I think the prices will likely stabilize, too.

Also, the equity markets are balling right now.

I personally think all this is good for the luxury watch market, but we’ll know for sure one year from now.


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[TRS1]

Originally Posted by Krash

BTC is easier to invest in now. You can do so via ETFs. For example, IBIT from BlackRock. This introduces BTC to traditional investors (like me).

I’m guessing BTC will go higher because of this even though I think it’s been down the last couple of days. I think the prices will likely stabilize, too.

Also, the equity markets are balling right now.

I personally think all this is good for the luxury watch market, but we’ll know for sure one year from now.


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Meanwhile historic inflation destroys silently.

[Krash]

Originally Posted by TRS1

Meanwhile historic inflation destroys silently.

That is true, no doubt. This inflation is AWFUL, and it impacts the poor and working class folks much more so than the investor class.


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[APhound]

Can only speak for myself. Crypto is doing well and I want to buy a watch. Last year it was bad and I still wanted to buy a watch.
I’m a long term investor in my crypto. It could double today and I wouldn’t sell. But would probably buy a watch


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[0nly5iv3Digits]

Human psychology is something that persists in a relatively unaltered manner from baseline... Idiots will be idiots. I wouldn't be surprised if it comes back, but only if the market goes "gangbusters" - and I'm not talking about a 2x from here. More like a 4 or 5x.

I'm waiting with my popcorn :D

[Onikage]

I'd be rolling some into a Daytona if I'd got in last year. It's a bit late in the day for me now. Even though it'll most likely continue upward. Surprised there aren't more posts about exchanging for watches lately.

[enjoythemusic]

Remember this event, when Bitcoin was ~$3000 in 2017 and Federal Reserve Chairlady Janet Yellen (USA revolving door to the Treasury now)... Janet was busy reducing the value of the Federal Reserve Dollar Debt Note. Since 2017 to 2024, how is the buying power of Fed's Debt Dollar by comparison to BTC (or ETH)?

Today this sign sold for 16 BTC... and BTC is over $64,000. If you wisely bought Bitcoin when you saw the below, you did quite well today.

PS: Today the S&P is merely ~5000, so just a double.

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