1 CommentSome have likened the cryptocurrency market to the Internet sector in 1999. While there was little doubt then, and clear evidence since, that those companies would take over the planet, the two Nasdaq indices fell an average of 90% in the 30 months ending 2002. This time, the bitcoin mania, which has dwarfed even the Tulip Bulb lunacy, should become the posterchild graduate school case study for not only finance, but also psychology, sociology, and perhaps other disciplines. Ironically, for lacking discipline!
Friends don’t let friends hold bitcoin below $2,900, the line in the sand of sell-stop protection. Otherwise, in the near future, one could be wishing they’d sold this $3,500 zone, as bitcoin breaks under $35, with growing potential for $3.50.
Eulogy made by: Ken Goldberg
All of these bitcoins are about to crash articles are based on the opinion that. It kin has no intrinsic value and the rise is based solely on speculation. However, while speculation is a factor, the authors appear to be ignorant about bitcoin. Bitcoin has risen because of controls in Asian markets like China and the difficulty in control over their funds through normal banking. It bitcoin is being used to circumvent these regulations. It is also rising because bitcoin is used to invest in ICOs. Finally, the doomsday articles were being written when bitcoin was at $1000. Will these same people continue to write the same article when bitcoin hits $20,000? Everything in life, including life, is in a bubble. We won’t live forever, the stock market won’t rise forever, bitcoin won’t rise, continuously forever. That doesn’t mean bitcoin is some sort of speculative fraud with nothing supporting it other than greed and lunacy.