Wall street grows ever more certain Bitcoin is a bubble. I can't even say they're wrong. Flirting with $6000 per coin and low economic utility? For as dumb as Jamie Dimon sounds every time he says anything about Bitcoin, the tulip bubble analogy looks less and less inappropriate all the time.
Blockchain utility doesn't make crypto not a bubble. That'll be important to remember for people buying now expecting to make big gains at this cost basis, and there's real risk there.
Well, what else do you expect them to say about it when the whales are throwing prices up and down everyday? Really nothing to do about it. Quote
In a note to clients published on Thursday, analysts at UBS took a long look at Bitcoin, cryptocurrencies, and the blockchain technology that underwrites this whole enterprise.
Looking only at pricing, UBS said that, “a twenty-fold increase in bitcoin prices in just two years, and an absence of any fundamental economic backing, cryptocurrency prices are almost certainly a bubble.”
Looking only at pricing, UBS said that, “a twenty-fold increase in bitcoin prices in just two years, and an absence of any fundamental economic backing, cryptocurrency prices are almost certainly a bubble.”
Blockchain utility doesn't make crypto not a bubble. That'll be important to remember for people buying now expecting to make big gains at this cost basis, and there's real risk there.
But whatever you choose to call is your business, my main focus here is to make money and nothing else, I don’t come here to talk about which one is bubble and which one is not. At least last year was a huge success to me. So no time to be looking at the nonsense media has to say, got to focus.
Just look on how much bitcoin is still in invested capital of wealthy people.