Even at Just Over $4000, Bitcoin Still in a Bubble

Written by:
Guest
Published on:
Aug/18/2017

The price of crypto-currency Bitcoin Friday morning was $4357.63.  It had surged to an all-time high of $4500 earlier in the day.

Litecoin now accepted at BetOnline

One of the best-known Bitcoin bears, investor Peter Schiff, is now making his case in even stronger terms for why Bitcoin has advanced ever farther into bubble territory.

He tells CoinDesk:

"There's certainly a lot of bullishness about bitcoin and cryptocurrency, and that's the case with bubbles in general. The psychology of bubbles fuels it. You just become more convinced that it's going to work. And the higher the price goes, the more convinced you become that you're right. But it's not going up because it's going to work. It's going up because of speculation."

There’s reason to be concerned.  Schiff correctly predicted the financial crisis of 2008.

Schiff does say bubbles can lead to trading opportunities for investors who aren’t wedded to the long-term viability of the asset.

"People who get in and get out can make money," he said. Unfortunately, that's easier said than done. He added: "Most people never get out. Most people just don't sell, because of the psychology, and what happens to most people is they just keep buying more. So, when it crashes, they don’t just give back the paper profits – they give back real money."

- Aaron Goldstein, Gambling911.com

Business/Financial News

Local Bookies May Consider Starting Their Own White Label Sportsbook

Local Bookies May Consider Starting Their Own White Label Sportsbook

The local bookies that have begun white label Sportsbooks at TopPayPerHead.com have made a lot more money.

Would You Like To Know How Bookies Make More Money Online?

Would You Like To Know How Bookies Make More Money Online?

Have you ever wondered how bookies make more money online than offline?

OKCoin, Huobi to Stop Yuan-Denominated Trading by October’s End

The Calvin-Ayred owned CoinGeek.com is reporting that Bitcoin exchanges OKCoin, Huobi will each stop allowing Yuan-Denominated trading come the end of October (2017).

MGM to Build Casino in Connecticut

MGM to Build Casino in Connecticut

MGM Resorts International revealed plans on Monday for a $675 million waterfront casino in Connecticut’s largest city

Where Can I Find Online Bookie Software in the Pittsburgh Area

Where Can I Find Online Bookie Software in the Pittsburgh Area

You can find online bookie software catering to those in the Pittsburgh area by visiting TopPayPerHead.com.

Syndicate