Bitcoin Cracks $5000

[Gaddafi Duck]

A currency has no store of value. So it's not a real currency. The whole economy is speculation. So, you don't buy PM"S, stocks. It's all speculation that things will be more valuable in the future.

Erm...a currency should have a store of value. What's the point of holding something that the next day may collapse 30%? Bitcoin does this regularly.

Stocks aren't speculation---I mean, it's called "valuation". Sure, speculation occurs, but you can actually value a stock as it represents a real business. Bitcoin represents a digital "currency" that's not even used as a currency. So it's a "digital"...$8000 for a piece of digital. Might as well start selling $100,000 digital houses. No one need live in it just as nobody need to use Bitcoin as a currency. People will just own digital currencies to own them, just as they'd own digital homes. Why live in digital homes? Why use digital currencies? Buy and hold...and hope to sell to a greater fool!

But hey, in the Tulipmania, tulip bulbs went at 10x a skilled craftsman's salary. So who knows, maybe it will go to $500,000. It'd be just as dumb as dumping a year's salary into a tenth of a tulip bulb in the 17th century.

 

[kfarnan]

Price and value aren't the same thing. the dollar has lost most of it's value. Until, the dollar collapses, it will be accounted for. And No, tulips aren't in limited supply.

 

[anaconda]

$8325

 

[anaconda]

$8363

 

[anaconda]

$8394

 

[anaconda]

$8400

 

[anaconda]

$8443

 

[devil21]

I'm surprised the corrections earlier didn't seem to last that long. The crash after hitting $1200 the first time took 2 years to recover. The dip to $5000 barely slowed the climb.

Why are you surprised? It's obvious the bitcoin markets are running algo'ed side by side with the stock market. None of the bitcoin crowd ever comments on how the CBs can easily buy up the crypto market with printed cash the same way they do with stocks and bonds.

 

[anaconda]

$8510

 

[anaconda]

$8600

 

[TheTexan]

$8600

#bubble

Totally gonna pop soon

And then after it pops it will go to 20000

 

[anaconda]

$8725

 

[anaconda]

#bubble

Totally gonna pop soon

And then after it pops it will go to 20000

What's the dip/trough before the sprint to 20000?

 

[RonPaulIsGreat]

Why are you surprised? It's obvious the bitcoin markets are running algo'ed side by side with the stock market. None of the bitcoin crowd ever comments on how the CBs can easily buy up the crypto market with printed cash the same way they do with stocks and bonds.

Maybe you'll get lucky and they'll start buying gold to!

 

[anaconda]

$8800

https://www.coinbase.com/charts

 

[anaconda]

$8902

 

[TheTexan]

What's the dip/trough before the sprint to 20000?

To 11000 then 7800 then 17000 then 14000 then 20000

u heard it here first

 

[anaconda]

$9000

 

[anaconda]

$9080

I saw it jump up $82 in about 3 minutes I think.

 

[anaconda]

To 11000 then 7800 then 17000 then 14000 then 20000

u heard it here first

I predicted $6000 by Thanksgiving on 8/31/17 when it was around $4800 or something. So a bolder estimate like yours seems good.