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RE: The #1 reason why bitcoin price is NOT a bubble
Until bitcoins are regulated in some form with a stable exchange, I would be quite surprised if a big Wall Street firm went all in on bitcoin. The exchanges are all over the place. The only way I could see bitcoin being traded by smart money. They would have to be regulated and traded on the NYSE and a futures version on the CME. Otherwise, bitcoins are not a stable investment.
As for the authors claim, bitcoin is not in a bubble. Well, bitcoins have all the trappings of a bubble. If they go higher, which they can. Bitcoin will financially ruin even more people when the bubble eventually pops.
I wouldn't put it past Jamie Dimon or one of those clowns to orchestrate it. The Chinese are paying 50% more for a home in Canada than the same shed would cost in the states. It's becuz they realize that the yuan goes from a yawn to collapse in teh next year. Better to hold "something" for half your money than nothing at all. :-) Bank stocks worldwide are saying that the banksters don't even believe their own game. If they did BAC would be twice where it's at now. As one last move of "desparation" I could see some dummass bank board "liqudating" assets into bitcoin or some other farce. I stil say the banks will be buying U.S. govmint debt whenst BAC is making their bankruptcy announcement tho. Dollars are the "buy and hold" safe haven if you don't like volatility. Govmint debt will make you rich in two weeks of trading someday. Trumpf was right...Mexico will pay for the wall. Actually we won't even need a fukkin wall. :-)
Hey, prove to me that you are not a wuss like ShitTheBed is. This would be an "unbelievable" call anyway...so the chances of it going my way are about as slim as they get. here's the bet. I say Bitcoin is gapping down into tomorrow's market open and is trading at or belowst $2000 by 10AM EST. Here's a live chart.
http://bitcointicker.co
If I'm right you buy me a $50 lunch tomorrow and if you're right I will buy you your usual burger king lunch and even super size your fries and drink...AND you can make it a duble whopper mit cheez too! Value of $10. :-)
Joejustjoe your legend status is beyond none. You have the number 1 track record on steemit, I would believe you are a student of the maestro.
Actually, I spewed at the maestro's Utube to let him know it is "likely" that he will be wrong about the Bitcoin $1700 to $1800 area being a "buy the pullback!" point. :-)