Current Price is 5090., see all alerts, buy / Sell. It has a current circulating supply.6 Million coins and a total volume exchanged of 17,065,218,671 1h 24h 7d 14dRead more
Bobby went to his friend, TM who had also missed out on the Dogecoin phenomena and they decided to give this idea a whirl. Coins bitcoin, red, price AlertRead more
Is bitcoin about to crash
Billionaire investor Howard Marks has also denounced bitcoin and earlier this year said it was nothing but a pyramid scheme. Beyond its usability for crime, Bitcoin has major design flaws. What Happens if Bitcoin Crashes? Third, with Bitcoin transactions fees hovering above 25, a 5 payment now costs. Theres also a fair chance that it may as well never be revived to the same level again, at least not in our lifetimes.
So were railroad bonds, electric utility stocks, auto companies, radio firms, the electronics industry, color TV companies, Japanese conglomerates, computer, biotech, internet shares and real estate, and all crashed when excessive optimism far outweighed the more rational expectations normally associated with prudent investing.
If we assume that.
Bitcoin does crash, the outcome could be devastating, but only selectively.
It certainly doesnt pose a systemic risk to the global economy like, say, the financial collapse of Lehman Brothers Holdings Inc.
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So there are better and simpler ways. Such a system makes it difficult for governments to know the identities of people exchanging money, so it has become a haven for money laundering, drug dealing, and corruption. Price rallies like this happen in dreams or in bubbles. Isaac Newton lost a fortune in the former while the French government nearly collapsed in the latter. These sheep are buying Bitcoin out of a psychological fear that they might lose their chance to get rich quick with this new investment idea. Daily volatility tops 5 percent to 10 percent while its "value" has skyrocketed. But most part of this mania is hinging on investors herd instinctthe sheeplike behavior to follow the group. It is certainly not for the faint-hearted. Just as this investor has mindlessly followed the herd through the entry doors, he wont think twice once the herd heads for the exits. Bitcoins gravity-defying ascension is absolutely mind-boggling.
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