Cryptocurrency

[OakLeaf]

An economist I follow said a few months ago that he expects and blow off top to the bubbles in stocks and crypto. He predicted that the S & P 500 could go to 6300, and that bitcoin could go to $115k. Heady predictions but looking more plausible at this stage. This is what happens in bubbles. Just look at what happened in the dot com bubble of 1999/2000.

He did say that after that there would be a massive crash in both so be wary! All we would need is one big bank to fail and we'd almost certainly be in a credit crunch. There are a lot of candidates in the US (and beyond) at the minute.

[marty34]

An economist I follow said a few months ago that he expects and blow off top to the bubbles in stocks and crypto. He predicted that the S & P 500 could go to 6300, and that bitcoin could go to $115k. Heady predictions but looking more plausible at this stage. This is what happens in bubbles. Just look at what happened in the dot com bubble of 1999/2000.

He did say that after that there would be a massive crash in both so be wary! All we would need is one big bank to fail and we'd almost certainly be in a credit crunch. There are a lot of candidates in the US (and beyond) at the minute.

A recession?

[OakLeaf]

An economist I follow said a few months ago that he expects and blow off top to the bubbles in stocks and crypto. He predicted that the S & P 500 could go to 6300, and that bitcoin could go to $115k. Heady predictions but looking more plausible at this stage. This is what happens in bubbles. Just look at what happened in the dot com bubble of 1999/2000.

He did say that after that there would be a massive crash in both so be wary! All we would need is one big bank to fail and we'd almost certainly be in a credit crunch. There are a lot of candidates in the US (and beyond) at the minute.

A recession?

I suspect there will be. Some say it's already started. I dont think anyone really knows for sure. One thing's for sure though, the US is looking at a debt mountain and if inflation returns (or the bond vigilantes keep the 10yr rate high), then the interest on that debt will get out of control. Anything could happen from there.

[small white mayoman]

Bitcoin gone over 100k  😮

[tiempo]

Bitcoin gone over 100k  😮

A transfer of wealth ponzi, god help those who get burnt on the next controlled dive, you can be sure those pulling the strings cash out with everyone elses money just before, grade A corruption

[Milltown Row2]

Bitcoin gone over 100k  😮

A transfer of wealth ponzi, god help those who get burnt on the next controlled dive, you can be sure those pulling the strings cash out with everyone elses money just before, grade A corruption

Madoff stuff

[Look-Up!]

Bitcoin gone over 100k  😮

A transfer of wealth ponzi, god help those who get burnt on the next controlled dive, you can be sure those pulling the strings cash out with everyone elses money just before, grade A corruption

Madoff stuff

If it keeps confidence as a storage of wealth then the value won't drop. I really don't know what to make of it. I looked at buying in 2020 during Covid but long story short didn't. I wouldn't like to but at today's prices but that's just because I don't know enough about it or have any interest in learning more. Plus the appeal back then was that I'd own a few of the whole coins. Owning a bit of one now doesn't appeal to me. But I still think it will rise for the time.

[SaffronSports]

I can't get my head around Bitcoin at all. Just wondering though, say as an initial investor you put something like £100 in. What would that be worth now?

[imtommygunn]

$100 originally would get you $81k dollars...

[bennydorano]

I've a mate who invests in Bitcoin for the real longterm, he's convinced come back in 10 years time and it could be near 1m per btc.

Quoting myself from last March, Bitcoin obviously pretty dear to buy atm, but if you're a real long termer see above.

[Franko]

$100 originally would get you $81k dollars...

Bitcoin was first widely available on exchanges in 2010.  In July 2010 it was traded for about $0.06/coin.

So a $100 dollar investment then bought you 1666 bitcoin.

Worth $160-odd million today....!

[SaffronSports]

$100 originally would get you $81k dollars...

Bitcoin was first widely available on exchanges in 2010.  In July 2010 it was traded for about $0.06/coin.

So a $100 dollar investment then bought you 1666 bitcoin.

Worth $160-odd million today....!

Unbelievable. Has it ever had a really bad crash in that time. Obviously it's recovered but was there a time when it wasn't looking good?

[RedHand88]

$100 originally would get you $81k dollars...

Bitcoin was first widely available on exchanges in 2010.  In July 2010 it was traded for about $0.06/coin.

So a $100 dollar investment then bought you 1666 bitcoin.

Worth $160-odd million today....!

Unbelievable. Has it ever had a really bad crash in that time. Obviously it's recovered but was there a time when it wasn't looking good?

Yes it went from 20k to 3k in around early 2019. There was talk of it being finished at that point but guess it was wrong.