[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 article and 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!”