Bitcoin rise!

guthixbeep · Jan 29, 2017

bloody fear said: ↑

The thing about all these e-currencies is that no one knows how to value them. They're completely susceptible to any and all external economic fluctuations that occur. The rally we just saw was caused by 3rd world countries (namely BRIC countries) pumping cash in. Who really knows what will happen? If you can't value an asset but you have lots of people who have the ability to purchase it, it's definitely going to have volatility. Don't get caught up in the fact that "900" or "1100" is what something is worth. Understand that it's what irrational and unknowledgeable people around the world are willing to buy it for. These people opinions tend to change depending on whether the coin is currently rising or falling. That said, you'll have more momentum on the side of the current trend. Now that the trend is reversing, you'll see the bearish market before we see the coin flip (pun intended). Sorry it that was a bit of a ramble.
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I think that people will start turning to bitcoin in stead of gold when times are rough economically (not stable). Gold is old fashioned, but secure. However, bitcoin has way better deflation and is actually useful.

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Bitcoin rise!

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Bitcoin rise!

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