I've been buying precious metals for a number of years and have seen many up and down trends. I think this up trend is good, but temporary.
I guesstimate that within 2-3 weeks we'll be back to around $65, which is still great, but a more appropriate growth.
Topic: What is the main reason for the recent price raises? - page 4. (Read 3201 times)
There is certainly something to be said about the raising price being a product of the raising price. People are excited about the prospect of the price rise and buying into it causing the price to further rise.
I know some may label this a conspiracy.. But the truth is the Fed is naked shorting Gold and silver to keep people in dollars and stocks. They have to.. We have a stock market bubble because of cheap dollars ..This isn't because of little investors putting their money in.. there is very little volume. It's the banks speculating with all this QE money.
Second we have a bond bubble .. Treasury are the highest they been in like 50 years .. Because the Fed is buying them to monetize our debt.
3rd we have an unstable dollar.. Because the fed is diluting the currency supply by 1 trillion dollars per year.. Other countries are getting out of the petro dollar ..
The dollar is the weakest point in this whole scheme. Because the fed can't use policy to control it.. If they do.. By raising interest rates.. It will collapse the bond and stock market... and cause The US government not to be able to pay the interest on our debt.
Btw we are already bankrupt it's this little circus the fed is using to keep thing going. Sooner or later with all this money printing the dollar will lose it value and collapse and hyper inflation will ensue..
When the dollar collapse happens gold and silver will rocket..
Second we have a bond bubble .. Treasury are the highest they been in like 50 years .. Because the Fed is buying them to monetize our debt.
3rd we have an unstable dollar.. Because the fed is diluting the currency supply by 1 trillion dollars per year.. Other countries are getting out of the petro dollar ..
The dollar is the weakest point in this whole scheme. Because the fed can't use policy to control it.. If they do.. By raising interest rates.. It will collapse the bond and stock market... and cause The US government not to be able to pay the interest on our debt.
Btw we are already bankrupt it's this little circus the fed is using to keep thing going. Sooner or later with all this money printing the dollar will lose it value and collapse and hyper inflation will ensue..
When the dollar collapse happens gold and silver will rocket..
I don't know, to be honest it doesn't make any sense to me. I can understand that people are finally finding out about Bitcoin more. But that would be a steady increase, not going from $20 to $80 in a month. The European situation doesn't hold up. As was said, other physical assets like gold and silver haven't reacted at all, and actually maybe even lost some.
Even the whole FinCEN thing doesn't add up. So they greenlit it. So what? Say someone decided to take that opportunity to open a US exchange or whatnot. For the price to quadruple, Bitcoins would have to become several times more scarce. So unless someone is buying 70% of the entire BTC supply, that still doesn't explain the price hike.
The ASIC situation could be another. Maybe lots of Bitcoins are locked up in the expectation of being used for an ASIC in the near future. The situation with BFL would make this even worse. But again, it would have to be something like half the global supply of Bitcoins to see this kind of price hike.
The only options are either a massive supply of Bitcoins became unavailable, or a massive amount of new users started using Bitcoin, or it's a bubble.
Even the whole FinCEN thing doesn't add up. So they greenlit it. So what? Say someone decided to take that opportunity to open a US exchange or whatnot. For the price to quadruple, Bitcoins would have to become several times more scarce. So unless someone is buying 70% of the entire BTC supply, that still doesn't explain the price hike.
The ASIC situation could be another. Maybe lots of Bitcoins are locked up in the expectation of being used for an ASIC in the near future. The situation with BFL would make this even worse. But again, it would have to be something like half the global supply of Bitcoins to see this kind of price hike.
The only options are either a massive supply of Bitcoins became unavailable, or a massive amount of new users started using Bitcoin, or it's a bubble.
Indeed, that is most pertinent. Bitcoin is either ultimately going big or bust, for my money (quite literally!).
What really intrigues me is even though the price is in the 80's today. We are still early adopters.. When you consider that 1% of market penetration would make 1 bitcoin worth over a 100k..
A large number of people out there FINALLY figured out that fiat money is a joke, and banks are not a safe place to store it.
And bitcoins are easier to transport or hide than gold or silver.
When can one ever trust bankers? Or for that matter US Fed Reserve or FDIC!!
A large number of people out there FINALLY figured out that fiat money is a joke, and banks are not a safe place to store it.
And bitcoins are easier to transport or hide than gold or silver.
Max Keiser, who uses RT to reach 550 million worldwide viewers said...
1% of global trade in Bitcoins = $100,000 Bitcoin.
Keiser Report: Bitcoin Millionaires vs Paper Billionaires (E416)
http://www.youtube.com/watch?v=_t39jCXXIrY
He also claims to be Bitcoin millionaire.
1% of global trade in Bitcoins = $100,000 Bitcoin.
Keiser Report: Bitcoin Millionaires vs Paper Billionaires (E416)
http://www.youtube.com/watch?v=_t39jCXXIrY
He also claims to be Bitcoin millionaire.
http://www.bbc.co.uk/news/technology-21863593 <-this has been reported in various news outlet
Bitcoin fever has (unexpectedly?) exploded in recent weeks. Cyprus may be playing its part, though IMO not as much as some seem to think, because the gold price has not rallied at all really (yet) during this time, and that is typically the first port of call in just about any kind of financial crisis.
Analysing bitcoin price trends since its inception four years ago, one thing stands out: bitcoin is very bullish, one of the most bullish assets ever in the history of civilization? The price does drop sometimes but it always rebounds, often rapidly. The only real bear market was from about June through October of 2011, I believe. Nevertheless, all investments are risky, and this could be just a massive speculative bubble about to pop (though the price might still be $30-$50+ even after that, for all we know/guess). For this reason, bitcoin and PMs complement each other well (and I find litecoin a handy complementary cryptocurrency to hold/speculate on, too).
Analysing bitcoin price trends since its inception four years ago, one thing stands out: bitcoin is very bullish, one of the most bullish assets ever in the history of civilization? The price does drop sometimes but it always rebounds, often rapidly. The only real bear market was from about June through October of 2011, I believe. Nevertheless, all investments are risky, and this could be just a massive speculative bubble about to pop (though the price might still be $30-$50+ even after that, for all we know/guess). For this reason, bitcoin and PMs complement each other well (and I find litecoin a handy complementary cryptocurrency to hold/speculate on, too).
What is the main reason for the recent price raises?
Really Cyprus?
Will the exchange rate fall down in the next few weeks or will it raise further?
Really Cyprus?
Will the exchange rate fall down in the next few weeks or will it raise further?
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