Bitcoin Is Over $7,200!

[Joe Flacco]

Yeah, I am sure it will just keep going up forever...until it doesn't

I mean you could say the same thing about amazon.

 

[timd354]

This is gonna be fun.

Yes, it will be fun and a lot of fortunes will undoubtedly be made (and have been made) and a lot of fortunes will be destroyed.

 

[timd354]

I mean you could say the same thing about amazon.

At least I have a way of valuing Amazon by looking at sales, earnings, margins, expenses, cash on hand, etc. The big problem with Bitcoin is it is just a pure speculative play with no actual way to value it. Good luck to you if you get into and start playing in that space....maybe you will hit it big, but you could get crushed too

 

[Joe Flacco]

At least I have a way of valuing Amazon by looking at sales, earnings, margins, expenses, cash on hand, etc. The big problem with Bitcoin is it is just a pure speculative play with no actual way to value it. Good luck to you if you get into and start playing in that space....maybe you will hit it big, but you could get crushed too

I don't believe in fundamental metrics. Those metrics are like price per SF or price per BR in real estate. Nonsense. When something is going up you gotta ride it up. When something is going down you ride it down.

 

[gregb]

I don't believe in fundamental metrics. Those metrics are like price per SF or price per BR in real estate. Nonsense. When something is going up you gotta ride it up. When something is going down you ride it down.

Roller coasters can be big fun, but not something I put money on.

 

[Joe Flacco]

Roller coasters can be big fun, but not something I put money on.

That's fine. It's not for everybody. You have to be comfortable with the risk to get involved. The price swings are not that crazy compared to what you see in the options market. It is a volatile instrument for sure. I am just letting you guys know it is continues making higher highs and higher lows which is the definition of uptrend.

 

[gregb]

I am just letting you guys know it is continues making higher highs and higher lows which is the definition of uptrend.

I know nothing about this or options, but aren't fundamental metrics involved?

 

[Joe Flacco]

I know nothing about this or options, but aren't fundamental metrics involved?

If Amazon priced at 284 x earnings, Netflix at 196 x earnings, Google at 34 x earnings, and Apple 18 x earnings makes sense to you then I guess it is involved.

 

[timd354]

That's fine. It's not for everybody. You have to be comfortable with the risk to get involved. The price swings are not that crazy compared to what you see in the options market. It is a volatile instrument for sure. I am just letting you guys know it is continues making higher highs and higher lows which is the definition of uptrend.

I understand what an uptrend is, now tell me how long the uptrend is going to last on something with no fundamental basis of value and just being pushed on nothing more than pure speculation

 

[Joe Flacco]

I understand what an uptrend is, now tell me how long the uptrend is going to last on something with no fundamental basis of value and just being pushed on nothing more than pure speculation

I don't know when it's going to end. But I will let you know when it ends.