Saturday, September 16, 2017

About all that "Bitcoin Crashing" News...

BITCOIN IS SO VOLATILE!

IT CRASHES ALL THE TIME!

DON'T BUY ANY BITCOINS!


As gracefully put by @real_vijay and updated by me:

Bitcoin Crashes
Jun 16: -41%
Jan 17: -37%
Mar 17: -31%
May 17: -33%
Jun 17: -39%
Aug 17: -20%
Sep 17: -38% (as of now)

Bitcoin Prices
30 Jun 16: $636
31 Jan 17: $970
28 Mar 17: $1,195
31 May 17: $2,303
30 Jun 17: $2,455
31 Aug 17: $4,743
30 Sep 17:   ?


It's times like these when every mother donkey cow is suddenly an expert on the definition of financial assets and are calling Bitcoin / crypto a scam or a fraud that makes me just want to give up trying to explain just how wrong they are.
 

I mean, why the hell would any intelligent person own any bitcoins, right?
It is obviously in a bubble, right?
It can't possibly go higher right?
Isn't it WORTHLESS?
Based on NOTHING?

It's okay, you can just watch me get rich instead of joining me.

7 comments:

  1. I am sure you are being quite sarcastic about it and deploying a large amount of your capital in this.

    ReplyDelete
    Replies
    1. Ehehe Kyith, you betcha,

      Bitcoin rocketed from $3000 to $4000 within 24 hours after reaching that low, haha.

      It wouldn't surprise me at all if we settle back to $5000 at the end of this month.

      Delete
  2. People compare this one to "Tulip Mania" bubble. But isn't life is all about bubblee, the stock market is a bubble too, so is commodities turn later. It is not when it burst, every bubble burst. It is who will be the guy who hold the baby when the music stop.
    And tulip lasted 2 years only, this one still got a long way to go to the moon.

    victor

    ReplyDelete
    Replies
    1. Yup Victor, I don't think it can be considered a bubble if most people don't own it or tried to speculate with it yet.

      Perhaps it is only bubbly to those already in the community who can see and feel when things go super overvalued from overvalued, haha.

      The volatility in crypto is enough to make most stock and bond traders vomit. Perhaps only leveraged FX traders are used to these kind of swings.

      Delete
  3. Hi GMGH

    I would like to thank you for your warning that it was about to crash some 30%, thus u save my backside from been burnt. Because of this I just bought only 11K, that is a
    small portion of what i intend to put in, i am still a long way to be fully vested in cryptocurrency. Thanks for your timely warning.

    You really got very good foresight. Thanks you.

    victor

    ReplyDelete
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