Bitcoin and Crypto Rocket To New All-Time Highs as Peter Thiel Warns Not To Underestimate Bitcoin
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Just over a month since it was 3000$, crazy to think how quickly the China FUD turned around.
50% in one month :)
We keep hearing of people screaming about "Bitcoin is in a bubble!", and comparisons with "Tulip Mania". As if they had been around when it happened.
Assuming that BTC is indeed in a bubble, here are a couple of facts learned from various "bubble events" in the past. Including the Tulip Mania:
(1) No one knows what the peak is.
(2) Many people had made a lot of money, and kept this by not being too greedy.
As for #1, BTC might now be very near its peak and it will be downhill from here. HOWEVER, this might just be halfway, or not even a quarter of the way yet...which means it has a lot of legs left. That's how it was when BTC reached $1,000 and many so-called financial experts and analysts had screamed "Bubble!" and how stupid buyers of bitcoin are.
Most of these detractors share a common feature - they had failed to buy bitcoin (or just very little as compared to their resources) and are now full of jealousy and regret when they see it reaching $6,000. The Sour Grapes.
They want bitcoin to fall off the cliff. Just so they can comfort themselves with "See? I was right". (And conveniently ignoring the fact that many people would still be in the money as per fiat even if bitcoin were to tumble to $1,000 today)
I was one of them. Smugly concluding "It's in a bubble and will crash, for sure" every time it created a new high. Fortunately, I later learned the truth about previous bubbles and decided to be more open-minded about cryptos.
The correction in late June to mid-July 2017 was an opportunity for me - I got in at around $2,000 and had been adding to that gradually with money I could afford to lose without getting into any sort of financial trouble. I'm way in the plus right now but I'm being cautious about it - if there are indications things are going sour, I will cash out most of my BTC and get into precious metals. But that time is definitely not now.
I wrote a bit comparing bitcoin to the various bubbles out there. I cant say it is a bubble or not, but people who compare it to the tulip craze is absolutely bonkers. heres a link to my blog if you are interested:
https://steemit.com/bitcoin/@motoengineer/do-you-actually-believe-bitcoin-is-a-bubble-10-30-2017
Good point
good
Hi dollarvigilante,
Very interesting read, Thanks you for sharing it!
good
He posted a video with a 3-line caption.
Peter Thiel is ahead of the curve, compared to most.
I am always awed by the overwhelming potential of Bitcoin, and am excited by the idea that many more people are going to discover it.
Excellent, I invite you to review my profile so you can see my content and if I LIKE TO VOTE. GREETINGS
The first domino has already fallen. It's just gaining momentum at this point. Enjoy the ride...............
@dollarvigilante Certainly... Bitcoin shouldn't be underestimated
I love the fact that Peter Thiel is throwing up the flags to the doubters like "don't count on this being a fad". Just another example of people jumping on this wagon for the ride to the wave of the future. Thanks for sharing!
Good to see some videos promoting instead of those with the elites spewing their ignorance and lies about bitcoin.