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The bitcoin bubble: Why speculative bitcoin buy-ins now point to a disastrous bitcoin crash

by Mike Adams, Natural News:

Bitcoin is a powerful, game-changing crypto currency that may literally change the world. It’s a huge threat to centralized banks and government currency controls because it’s entirely decentralized, anonymous and virtually impossible to track. Bitcoin is the “underground railroad” of money, and it has an important role to play in the epic battle between liberty vs. slavery.

But because bitcoin is a currency whose value is based on the psychology of human beings, it is subject to booms and busts. Bitcoin has enjoyed a meteoric rise from roughly $20 per bitcoin in February to almost $200 per bitcoin today. (Yes, nearly a 1000% return in less than two months.) This has happened for several reasons, but primarily because the Cypriot bank thefts taught people that “money in the bank” isn’t any safer than money anywhere else. So why not invest in a crypto-currency that can’t be stolen by the banks?

As Europeans and Russians were funneling unprecedented sums of money into bitcoin over the past few months, Asians began to dump speculative money into the system. Today, Chinese investors (i.e. “gamblers”) are pumping huge sums of cash into bitcoin, hoping to double or triple their money as the currency continues its red hot rise.

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2 comments to The bitcoin bubble: Why speculative bitcoin buy-ins now point to a disastrous bitcoin crash

  • fonestar

    Look at and tell me where all these “speculators” and “huge sums” of money are? You’ll clearly see that far from “huge sums” there are just many, many small transactions going on.

  • Don

    All the recent bashing of bitcoin reminded me of something my 5th grade teacher said: ‘Your candle doesn’t burn any brighter when you blow out the other guy’s.’ It also makes me wonder how much conviction folks really have if they need to lash out against a fad that reenforces the theme of debt slaves attempting to escape the system. In hindsight this frustrating suppression has been a great learning tool. It is simple. Be right and sit tight.

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