news Bitcoin surpasses $10,000

[Isac]

If you invested $100 in bitcoin in 2010 it would now theoretically be worth $110 million.

If it sounds too good to be true, then it probably is.

Some believe the inherent skepticism behind this little proverb keeps people from taking advantage of excellent opportunities.

Whether you like it or not, Bitcoin is in a gigantic speculative bubble.

The father of all cryptocurrencies is being bought for its speculative purposes only, as opposed to being purchased for the reason it was created in the first place: as a digital currency.

As long as its astronomical price growth continues to be driven by speculators, it’s in a bubble.

There’s no doubt about it.

 

[xynames]

It’s completely unscientific but at this stage in the game the forces that be are as follows:

1. Small amounts of money aren’t going to make anyone rich in a matter of days or weeks. Hence currencies like xrp aren’t going to jump anytime soon to 100x or even 10x where they are today, rather, more likely, going to stay in trading ranges, and compel a lot of people to give up and dump.

2. I’d expect btc to close right around $19,000. at option expiration dates, in January or perhaps in March. It’s usually like that unknown why, such that all those $19k futures both calls and puts that were written expire worthless.

If we get to a point where most of the strikes are around a different price, such as $15k $14k $20k $13k whatever - we should start seeing btc prices closing around where most strikes were sold, at expiration dates, again causing most of the options sold to expire worthless.

3. We’re eventually going to see reverse action where the actual addition of a new currency to mainstream trading, i.e. Coinbase or whatever, is actually going to result in a sell off rather than the expected lift.