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RE: Wall Street strategist believes Bitcoin and other cryptocurrencies are cannibalizing gold demand with price going as high as $55,000 per coin

in #money7 years ago (edited)

Spread your bets among metals and cryptos. The ratio should be tied to your speculative appetite (more risk tolerant, more cryptos). Always do your homework, regardless. The system is unraveling, but this is unlikely to happen uniformly. The cryptos are real, and they are going to surge for a period because the market is starved for growth and alternative investments. Fundamentals won't matter much, at least initially. There will be a consolidation down the road. Every innovation in history has followed this path, and the block-chain/distributed ledger is one of those transformative innovations.

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