2 thoughts on “Bitcoin and Other Cryptocurrencies Are Plunging. Here’s What Could Happen Next”

  1. A belief system met reality. The extreme downward volatility was completely un-nerving. It’s easy to tell yourself that you’re an aggressive trader–but well, uh, this is something else. Reminded me of the several recessions I’ve been through when the situation gets worse and worse before it gets better.

    I was lucky to sell out of GBTC this morning with a small profit. I still have a small stake on coinbase.

    What do others think? I really want to know. I’d like to get back into cryptocurrencies.

    1. Cryptocurrencies are not considered a form of currency by any sovereign legitimate government. As it stands now it is basically mania (human emotion plus computer trading) driving the prices up and down. Bitcoin itself has no intrinsic property values for commercial use in tangible goods or services. Therefore as an investment it is very speculative rather than a true investment with instrinic value. “Caveat Emptor” – Let the buyer beware!

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