Watch the Bitcoin Bubble Burst

Tadhg Gaelach

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#13
Funnily enough it is down about 200 dollars since we started, now at $7341

Well, there's a nice trendline there since September. If it breaks under that I'll probably take a short with a stop above the recent high. A 50% retracement from 18th September would leave us about $5500 - which would be a very nice trade indeed.
 
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#15
The reasons there is so much money in bitcoins is

Global QE has created bubbles everywhere in the stock markets
Inflation and zero interest rates have fucked people saving cash, and so are looking for alternatives for their cash
Currency wars like china trying to deflate their currencies to keep trade deficits going and so again people looking for alternatives
Unlike countries like India or certain arab countries, no gold or gold backed alternatives (dinars) to put your money into
No alternatives left as everything is a bubble including housing as chinese and hedge funds are poring their money into the last alternatives there are

Bitcoin has the brand recognition, and a bigger number of coders/people behind it. It was first to post. The technology in the end is a global ledger, where bitcoin has a limited number of virtual coins in said ledger.

Its a total bubble, but so is everything else. The response to 2008 was hold down the print button.
 

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#16
Crypto-currencies can't salvage hedge-fund junkies


DALLAS (Reuters Breakingviews) - Hedge-fund star Mike Novogratz thinks he has crypto-currencies figured out. The one-time manager of Fortress Investment Group’s flagship macro fund is pinning his comeback hopes on digital coins. Their volatility is alluring when tranquil markets are depressing industry returns. But that can be a trap, as the investor well knows.

Breakingviews - Crypto-currencies can't salvage hedge-fund junkies
 
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Dan Óg

Dan Óg

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#17
The article points out that anybody can start a new currency, so Ireland could start one and generate 100 billion. Except of course the people who rule there are doing what benefits others.
 

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#18
Bitcoin hits record high after developers suspend plans to 'fork' currency


NEW YORK/LONDON (Reuters) - Bitcoin hit a record high just shy of $8,000 on Wednesday after a coalition of developers and investors suspended a software upgrade planned for next Thursday that could have split the digital currency in two.

Bitcoin hits record high after developers suspend plans to 'fork' currency
 
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Dan Óg

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#19

Tadhg Gaelach

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#20

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#22
A month is a long time, when dealing with a bubble.

Very true - and what the CE of JP Morgan said is not very re-assuring, i.e. Bitcoin is a fraud. Here is more info on the CME launch. Of course, if anything were to go amiss with that, it would be curtains for Bitcoin.

CME Group Announces Launch of Bitcoin Futures

Tue Oct 31 2017

CHICAGO, Oct. 31, 2017 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced it intends to launch bitcoin futures in the fourth quarter of 2017, pending all relevant regulatory review periods.
The new contract will be cash-settled, based on the CME CF Bitcoin Reference Rate (BRR) which serves as a once-a-day reference rate of the U.S. dollar price of bitcoin. Bitcoin futures will be listed on and subject to the rules of CME.

CME Group Announces Launch of Bitcoin Futures
 
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Dan Óg

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#23
Very true - and what the CE of JP Morgan said is not very re-assuring, i.e. Bitcoin is a fraud. Here is more info on the CME launch. Of course, if anything were to go amiss with that, it would be curtains for Bitcoin.

CME Group Announces Launch of Bitcoin Futures

Tue Oct 31 2017

CHICAGO, Oct. 31, 2017 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced it intends to launch bitcoin futures in the fourth quarter of 2017, pending all relevant regulatory review periods.
The new contract will be cash-settled, based on the CME CF Bitcoin Reference Rate (BRR) which serves as a once-a-day reference rate of the U.S. dollar price of bitcoin. Bitcoin futures will be listed on and subject to the rules of CME.

CME Group Announces Launch of Bitcoin Futures
And of course this will have a huge multiplying effect on what is even now fantastically speculator y security
 

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#24
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