Source: http://www.zerohedge.com/news/2017-11-29/bitcoin-plunges-back-below-10000
It’s important to talk about Bitcoin when it goes down...as well when it goes up.
Bitcoin’s chart is littered with tremendous % pullbacks and taking time to base before making new highs again. Is it painful if your bought at $11, 395....and now it’s down to $10,000? Yes....of course...let’s not be silly.
However....what changed about Bitcoin vs the Dollar today ? Nothing
1.) Did the US just solve that US Dollar will not be used less and less in oils trades? No....China will slowly become the new kid not the block with their Yuan-Gold Backed currency used for the oil trades. This means all countries will need less and less dollars in global trade.
2.) Did Bitcoin or blockchain get hacked ...? No
3.) Did Ethereum lose it’s “smart contract capability” ? No
4.) Is there more or less hedge funds and institutions told to “invest in cryptos”? More and more hedge funds will be buying of course...they have not even started buying.
Did you get a good smile at the Gold/Silver smackdown today with paper fiat money? Right on cue.
In closing thoughts, cryptos and the precious metals moves will be on-going for many years.
This is not investment advice....