Bitcoin tops $48,000 in a big comeback to end the week

CNBC ^ | 09 February 2024 | Tanaya Macheel

[zeestephen]

Bitcoin marched higher to end the week, with its price breaching the $48,000 level for the first time since spot bitcoin exchange-traded funds began trading. [$47,800 as I post]

[C210N]

One last hurray shakeout.

It’s headed at some point to $0.

[KarlInOhio]

You can all thank me. I sold off the $22 of BitCoin I had which immediately caused a big run up.

[zeestephen]

High for the day - $48,208

Low for the day - $45,241

Best Performance Today - plus 5% - plus $2,700

https://www.cnbc.com/quotes/BTC.CM=

[C210N]

Hat-tip to anybody that made profits holding *and selling* BTC.

Many investors will be left holding the bag when the music stops on this money-laundering ponzi scheme, and be quite unhappy.

Nevertheless, if one is profiting from the high risks involved, good luck to you.

[God luvs America]

Nope

[God luvs America]

Got in it at $19K this time...last time around i got in at $23K and sold at $68K

[butlerweave]

and BitCoin is still nothing but a computer calculation

[Codeflier]

Kind of like the dollar

[EnderWiggin1970]

Bitcoin has gone from nothing to a $930B market cap in 15 years, not only without government backing but in the teeth of vehement government opposition. Imagining that it will just reverse course and go to 0 is plainly irrational or wishful thinking. It is clearing filling not just a market niche, but a gaping void.

It's not hard to see what that demand is - for usable, provably scarce currency free of politics or other manipulation by a cabal controlling it.

I am dubious the US dollar will exist in 20 years, or even in 10 years at the rate things are going lately. I'm very confident Bitcoin will be around as it continues to develop and improve with its army of developers. As I always tell people, don't switch from USD to bitcoin out of greed. Do it out of fear. The dollar is going to 0.

[C210N]

I agree with your points on the dollar. As pointed out frequently on usdebtclock. And, as pointed out by all the information plain to see to those that dig, on Jekyll Island, the fraud behind the Titanic, creation of the IRS, what Wilson said about the FED, EO 11110 by JFK, and on and on.

However, the ONLY thing that has passed the test of times as real money, is the only real money we've ever had, and that is PMs. Gold for wealth preservation, and silver for more practical uses.

[Right_Wing_Madman]

One last hurray shakeout. It’s headed at some point to $0.

Bitcoin was and remains a brilliant concept. Its encryption is sound after 15 years and the one million miners around the world who maintain the currency will keep it out of the hands of one central authority.

[EnderWiggin1970]

PM's have the track record, to be sure. But in a digital age that's like saying we should stick with horses for transport. How are you going to buy anything online with gold/silver?

Well, you could tokenize gold on the ethereum blockchain and digitize it that way (and it's been done I presume, probably several times over). But that just begs the question of why worry about trusting whether a token is really backed by gold in a vault somewhere?

I suppose the >60 generation of goldbugs will never concede, but they will die off soon enough. Very, very few younger people have an interest in PMs. (I held gold when I was younger, and it was literally the worst investment I ever held). Interest is all shifting towards cryptocurrency. PM's only have an edge over crypto in an apocalyptic scenario.

[C210N]

As BRICS grows and grows.

[C210N]

PMs are not for investment, agreed. It’s for wealth transfer from fiat TP to some new currency

[Pollard]

Many investors will be left holding the bag when the music stops on this money-laundering ponzi scheme, and be quite unhappy.

That's $212 TRILLION in unfunded liabilities. Tell me more about money-laundering Ponzi schemes.

[C210N]

Your point about the fiat non-federal non-reserve federal reserve's printing green-inked toilet paper that we've used our entire lives is actually a bigger ponzi scheme than even BTC. Both are not long for this world, and will be shed to the dustbin of history. Both are poor substitutes for real physical money. Both were created by the same banksters and fraudsters, one in 1913 with characters like Wilson, Rothschilds, Morgans. The other by the CIA.