by Andy Hoffman, MilesFranklin.com:
Earlier this year, Bitcoin had an historic run – from 110 on April 2nd to a record high of 265 on April 10th. Just hours before the peak, I gave this interview (time stamp 8:35 through 10:50), in which I gave my views on Bitcoin the product, and the market. In fact, I said it appeared much like the 1999 internet bubble – which in hindsight, turned out to be quite prescient; as by the time the crash ended a week later, Bitcoin had fallen all the way to 55, down 79%. As always, the “Johnny Come Lately’s” were destroyed – with not a clue what they were investing in …
After consolidating for several months – whilst manipulated currencies like gold and silver continued to be artificially suppressed, Bitcoin has recently surged higher – reaching a new all-time high of $270 this morning. Thus, it’s just a matter of time before I start to receive a slew of questions about it; and hence, this piece.
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