[cba123]

Apparently it is up a bit now, but this has not been a good week for Bitcoin.

Wonder why?

(That is a half, of a real question)

[abb]

https://en.wikipedia.org/wiki/Tulip_mania

[Jonty30]

The way I see it, it is a collusion of fraud. Some guy writes a line of code and calls it a currency. Some very rich people, who understand the art of fleecing the stupid, invest a lot of money into it to create hype. People buy into the hype, convinced it is the real thing. The original investors cash out and, as the hype dies, the currency crashes and billions of dollars are lost, but the shysters made billions.

[Drago]

30%-40% drops in BTC happen a lot (check the all time chart)...they come along the the 3x, 4x, 5x run-ups....low supply/liquidity leads to volatility. Keep “Hodling”! ;-)

[I want the USA back]

It’s not currency. Only governments have the right to issue currency. What is it? it is a nearly spherical mass of hot air surrounded by a thin film with strong surface tension.

[EEGator]

[IamConservative]

I’d think some folks are taking some end of year profits. I’d think US investors would hold for next years better tax rates.

[ConservativeMind]

These cryptocurrencies are attractive for people who think their currencies will have problems. One of these “problems” is that the government underlying the real currency will have policies that make their economies go down.

We just had a tax plan pass that will help us grow, hence, less need for cryptocurrency by US citizens.

[PAR35]

The announcement that Goldman Sachs was going to take control of the Bitcoin market may have had an impact.

[HamiltonJay]

The problem with the bigger fool theory of investing is sooner or later the bigger fool doesn’t show up.

[KarlInOhio]

How could it go down? My shoeshine boy just told me to invest all my money in it.

[discostu]

It’s a speculative market, they’re ruled by speculation. A couple people decide the market is overvalued and CRASH. It don’t mean anything, just how they go.

[Red Badger]

[Sirius Lee]

That’s why you Tiptoe Through the Tulips. And do an Irish Exit. If you make a loud, mad dash for the exit the whole herd is spooked and you might not get out in time.

[logi_cal869]

I’m sure McFadden’s really pissed now...

[HamiltonJay]

Those that bought on margin are going to have a very fun Christmas when they get those margin calls.........

Bigger Fool investing... some folks never learn

[dfwgator]

Randolph Duke: Exactly why do you think the price of Bitcoin is going to keep going down, William?

Billy Ray Valentine: Okay, Bitcoin prices have been dropping all morning, which means that everybody is waiting for it to hit rock bottom, so they can buy low. Which means that the people who own the Bitcoin contracts are saying, "Hey, we're losing all our damn money, and Christmas is around the corner, and I ain't gonna have no money to buy my son the G.I. Joe with the kung-fu grip! And my wife ain't gonna make love to me if I got no money!" So they're panicking right now, they're screaming "SELL! SELL!" to get out before the price keeps dropping. They're panicking out there right now, I can feel it.

Randolph Duke: [on the ticker machine, the price keeps dropping] He's right, Mortimer! My God, look at it!

Billy Ray Valentine: I'd wait until it gets down to about 64, you'll have cleared out all the suckers by then.

Randolph Duke: [punches up the numbers on his calculator] Do you realize how much money he just saved us?

Mortimer Duke: Money isn't everything, Randolph!

[Ronald_Magnus]

[ASA Vet]

I’d be interested in your take on crypto’s.