BTC FUTURES ARE HERE!
I keep hearing the word bubble when talking about Cryptocurrency. This comes up along with terrorism, money laundering, and other nefarious acts. Lets not forget it was invented so people could buy their weed online safely....
All of these ideas were spawned using every other known store of value long before the blockchain was even realized.
Is it a bubble? It looks like a bubble only it is the size of the universe.
Like a black hole sucking in all markets worldwide all at one time. Bubbles expand in areas dues to many factors. Our US DOLLAR is a bubble of sorts, almost universal. It has taking it 200 years to go worldwide, and went through many changes on the way. They talk about the busts, but seldom talk about the run up that got them there. BTC only developing since 2008 has over taken the dollar in a short time. This is astronomical in comparison. Today it takes 17000 USD to obtain 1 BITCOIN. That would indicate to me that the dollar has already crashed and its replacement is hot on the scene.
The wealth transfer is the real news. Young guys from middle class suburbia played with there computers and got rich. Old money bought bitcoin today, and in the near future the new bitcoin millionaire will rebuy the dip. Someone always has to lose. Bitcoin has create a new wealth class. The USD is no longer as accepted worldwide making its value further diminish. This is not good for the US cItizen this may cause major disruptions in trade inside the States. People of great wealth, ruined people with large debt easily repaid in the new clearance priced Dollar.
The bubble was back in 2014....I am not sure what to call this...Our President would say it best,"IT's HUUUGE." Bitcoin is about to turn ten years old, But that is like an eternity in internet years! This has yet to go mainstream, so if you hold you are already rich. All you have to do now, is wait. I not sure if there even is a better investment out there right now. Just look at CBOE They crashed after and hour or so of trading....and again later that day. HUH.
I think the future will call this a wealth transfer, not The Great Bitcoin Bubble. That is what the losers on wall street will call it next year when it is blamed for the coming market low. This can be indicated by the adoption of some sort of cryptocurrency by large corporations as payment for retail goods. Like AMAZON.COM or WALMART. Next stop, Pluto
After we see governments accept it as legal tender. Buy the dip!