Did BitCoin Just Burst?

[Nemo]

We discussed a bit ago.

Nemo


https://www.bloomberg.com/news/articles/2018-01-17/did-bitcoin-just-burst-how-it-compares-to-history-s-big-bubbles

Did Bitcoin Just Burst? How It Compares to History's Big Bubbles
By Eric Lam, Mathieu Benhamou, and Adrian Leung
January 17, 2018, 3:50 AM EST Updated on January 17, 2018, 9:23 AM EST

Bitcoin Loses 50% Since December

Bitcoin’s recent wobbles have given fresh urgency to a question that’s gripped market observers for much of the past year: Will the cryptocurrency go down as one of history’s most infamous bubbles, alongside tulipmania and the dot-com craze?

The magnitude of Bitcoin’s boom (before it lost as much as 50 percent from its Dec. 18 high) suggests investors have reason to be worried.

As the chart shows, the cryptocurrency’s nearly 60-fold increase during the past three years was truly extraordinary.

It dwarfed the Nasdaq Composite Index’s gain during the headiest days of the 1990s. Going further back, it comfortably outstripped the Mississippi and South Sea bubbles of the 1700s. It even topped the Dutch tulipmania of the 1630s, though that last comparison should be taken with a grain of salt given the scarcity of recorded tulip values. (The chart includes prices for just one varietal; consistent post-peak figures were unavailable.)

Bulls say that Bitcoin’s boom is far from over, and that there’s more to analyzing a market than just measuring price gains. While the recent tumble has alarmed some investors, the cryptocurrency has bounced back from several previous swoons exceeding 50 percent. If Bitcoin did become a widely-accepted form of digital gold, as predicted by Cameron Winklevoss of Facebook fame, it could have a lot further to surge.

There’s also more than one way to slice a rally. On an annualized basis, Bitcoin’s three-year rise has been slower than the gains seen during several of history’s biggest manias -- most notably the Mississippi and South Sea bubbles.

Still, skeptics abound. Howard Wang of New York-based Convoy Investments LLC and Jeremy Grantham of GMO LLC have analyzed Bitcoin’s advance relative to past frenzies and concluded that it’s unsustainable. Grantham, who helps oversee about $74 billion as GMO’s chief investment strategist, summed up his concerns in a Jan. 3 letter to investors:

“Having no clear fundamental value and largely unregulated markets, coupled with a storyline conducive to delusions of grandeur, makes this more than anything we can find in the history books the very essence of a bubble,” he wrote.

The strategist has a mixed record of success with such warnings. While Grantham was correct to call the 1990s surge in tech stocks a bubble, he exited too soon and missed out of some of the market’s biggest gains.

Only time will tell whether Grantham and other bears are right, wrong, or just too early when it comes to Bitcoin.

[Nemo]

Unless its just .  .  .

Nemo


https://www.bloomberg.com/news/articles/2018-01-17/bitcoin-watchers-running-out-of-explanations-blame-slump-on-moon

Bitcoin Watchers Are Blaming the Slump on the Moon
By Camila Russo
and Nour Al Ali
January 17, 2018, 10:57 AM EST

.  .  .

You have to click link above.

[JoJo]

 What? It's not President Trumps fault then it must be the Republicans. 

 Cripto currencies will always be around as long as there are criminal profits made. Just ask HilLIARy.

[Jackalope]

I put my trust in tangibles, not bits and bytes.  After the bubble has definitely burst, then the politicians will really muck it up attempting to regulate cryptocurrencies.  I don't see how they enforce any regulations though.

[Grudgie]

In the long run this will look like a blip on the chart. Just like Bitcoins previous 4 bubbles. We’re still nowhere near dotcom era market caps.

[grizz]

GrizzCoin is still rocking so put your money there 

[JohnyMac]

This nothing new. Bit coin has a large run then a correction. Then a large run then a correction. Each one of these blips the runs are bigger than the correction.

[JoJo]

 The correction is probably profit taking. Sell high buy low. That is how to keep the engine running.

[Jackalope]

I pity the folks who are late joining the party. Tangibles, tangibles, tangibles!

[Deathstyle]

Tangibles for sure. Guns, ammo, gold, and more ammo....and mags plus more ammo and some extra ammo after that. And of course skills to acquire more ammo

But I may put some funds into crypto currencies as a gamble/investment that I will intend to abandon eventually even if profits are made. I'm sure as hell not gonna put my money in the stock market or get a fucken 401k! 

Hell I don't even like keeping more than $10 in my checking account.

[pkveazey]

Tangibles for sure. Guns, ammo, gold, and more ammo....and mags plus more ammo and some extra ammo after that. And of course skills to acquire more ammo

But I may put some funds into crypto currencies as a gamble/investment that I will intend to abandon eventually even if profits are made. I'm sure as hell not gonna put my money in the stock market or get a fucken 401k! 

Hell I don't even like keeping more than $10 in my checking account.

Yep. I'm a Silver hoarder. I've got doubles and triples of some of my Prepper supplies for trading. I expect to trade the most common Ammo calibers, like 22, 380, 9mm, and 357/38. I expect folding money might not spend if things get really bad. As far as Crypto-currancy goes, I figure anything that inflates as fast as a balloon, pops just as fast as a balloon.

[Nemo]

Like I have mentioned prior, 3 Bs plus 2.

Beans, Bullets, Bandages plus bullion and barter.

Nemo