[Editors Note: Although Bitcoin has experienced multiple short term bubbles and busts. In the long term, Bitcoin has never been in what I would consider a major bubble. At $19bn Market cap and $365tn in all other major global asset classes, Bitcoin’s long term growth prospects are potentially unprecedented.
That said, on a short term basis there is some pertinent information in this articleand the risks of introducing a Bitcoin ETF at this early stage]
“Losing 15–20% in a day is the norm for us living in the crypto world — but not for people who have their retirement savings on the line. The fact that it’s hard to buy Bitcoin right now is a good thing, for now, because it self selects sophisticated investments, by and large”
“Overall, I’m not against the idea of the ETF — I think it will be a good thing but I don’t believe that 2017 is the year for it. Once Bitcoin gets into the $3–5k range (hopefully in the next year or so) and the volatility continues to drop, then I believe we can expose it to retail investors — but for now, I’m hoping we can avert another Bitcoin Bubble!”
“Bitcoin will continue to see tremendous growth and innovation over the coming years. It’s important to remember, Bitcoin is something different to everyone and its always changing and evolving. To some, it alleviates the pain of transferring money overseas. To others, it’s a hedge against their corrupt and hyperinflationary central banks and governments. And to the four billion people in the world who are either not banked or underbanked, it’s a way to gain global and equal access”
“Gold hit a three-month high of $1260 at the end of business day on Thursday, Feb. 23, as a steady flow of safe-haven demand from traders and investors continued worldwide while Bitcoin topped $1170 around the same time. Civic CEO Vinny Lingham, gives Bitcoin about a month or less to consolidate its price in the $1300 range”
“First they Ignore you, Then they laugh at you, then they fight you, then you win” – Gandhi
“It’s hard to control something that exists nowhere and everywhere at the same time. With peer-to-peer transactions, there are no servers to shut down, no kingpins to arrest, no warehouses to bust. Regulators can only go after local bitcoin exchanges and service providers, effectively impairing their own ability to see what’s going on”
“Bitcoin (is) the only technology that has been successfully operating today“. “Bitcoin – the world’s only technology, which is widely used, which has existed for several years, it (has never) broke (once)!
“Therefore, if we now ask whether there is another algorithm that established the reliability of distributed consensus, then it probably is not. If we talk about the current situation, it is really the only blockchain that we have success, it is Bitcoin,” he added”
“There is something seriously wrong taking place in the markets today. This is also true in the paper gold and silver markets as well. For a paper precious metals futures market to function properly, there has to be ample supplies of physical metal. However, the ongoing trend of falling precious metal inventories points to big trouble in the paper gold and silver markets”
“The drain of Registered Silver inventories began in earnest. Now the number of owners per ounce of Registered (Deliverable) is heading towards the 30 figure. .. it has never been this high in more than ten years”