Bitcoin Is Over $7,200!

[Digger88]

WTH! just last year it was 1,000. thats crazy! made up currency backed by nothing and worth that much a piece is straight up crazy.

 

[Joe Flacco]

Probably going a lot higher.

 

[DTB]

As long as there is a two sided market it will move. Right now it's a trading vehicle. Unfortunately for me, I didn't get it, still don't get it and watch from the outside.

 

[Joe Flacco]

They don't trade in whole bitcoins. You can buy $1 worth of Bitcoin.

 

[DTB]

They don't trade in whole bitcoins. You can buy $1 worth of Bitcoin.

That much I do know, but it's the underlying that I don't understand along with the lack of regulations and the special place I need to trade them and get a wallet...

Pheww I need to take a rest and scalp some ES.

 

[Joe Flacco]

100,000,000 Satoshi = 1 bitcoin

If 1 Satoshi becomes 1 cent then Bitcoin = $1 million.

 

[Joe Flacco]

That much I do know, but it's the underlying that I don't understand along with the lack of regulations and the special place I need to trade them and get a wallet...

Pheww I need to take a rest and scalp some ES.

Bitcoin futures by the end of the year.

 

[Elliott]

Why is a house worth $300,000? Why is a bitcoin worth $7200. Why was a share of Enron worth $100 and then $1. Why was a Tulip worth $5, rising to $200, and then to $5?

https://en.wikipedia.org/wiki/Tulip_mania

 

[timd354]

Probably going a lot higher.

Until it goes a lot lower. Bitcoin is a complete sham with no intrinsic value and is a complete bubble being manipulated by unseen entities. It may go higher and it may even go much higher and some people will make a ton of money, but eventually it is going to crash and crash hard and some people will still make a lot of money when that happens while many people will get crushed. I would hate to be holding a big long position when it all comes crashing down

 

[Joe Flacco]

Until it goes a lot lower. Bitcoin is a complete sham with no intrinsic value and is a complete bubble being manipulated by unseen entities. It may go higher and it may even go much higher and some people will make a ton of money, but eventually it is going to crash and crash hard and some people will still make a lot of money when that happens while many people will get crushed. I would hate to be holding a big long position when it all comes crashing down

That's certainly possible. It might play out that way or it might not. What I am observing is that it is continuing on a path to broader acceptance and legitimacy.