December 26, 2017
Bitcoin lost almost half it’s value, now it has regained half of what it lost.
The leading cryptocurrency bitcoin has passed the $15,000 mark on Tuesday. It has been recovering from last week’s sell-off, which sent prices below $11,000 after the $20,000 record.
Bitcoin was trading at $15,500 on Tuesday, up almost nine percent. Its market cap reached $260 billion with its share of the cryptocurrency market sliding to 44 percent, according to Coinmarketcap.
“There is no right current price which would reflect the right current valuation,” cryptocurrency expert Andrei Popescu told Reuters.
“Taking profit is right while buying into a long-term projection is also right. You don’t have to be right in this market, just less wrong than the rest,” Popescu said.
Cryptocurrency entrepreneur Julian Hosp has predicted bitcoin will reach a new record high, but not before another price crash.
“I think we’re going to see bitcoin hitting the $60,000 mark, but I also think we’re going to see bitcoin hitting the $5,000 mark,” Hosp told CNBC.
I was forced into Bitcoin when the SPLC shut down all of my payment processors, and I’ve made a good bit of money. However, my only goal for the currency was to use it as a currency. I never thought of it as an “investment.” It was merely a necessary tool.
So I absolutely think you should start learning how to use crypto currency. I think the future that this is opening up is one that we are all going to have to be a part of.
That said, be very careful. Don’t look at this as a safe investment, and don’t put too much money in it right now. I remember when I was telling you all to buy if it went below $2000, and I certainly hope that some of you did that and got rich from it, but right now, the whole world is talking about Bitcoin and there are a whole lot of different directions in which this could go.
I think the trend is clear, and it will keep going up, but we’ve also got an extremely volatile situation here which could lead to a lot of emotional distress if you have money in it that is anything other than disposable income.
The same goes for any of the crypto currencies. Even more so – that is even more clearly just gambling, as you have no idea what is going to happen with them.
Of course, “disposable income” is fine to use for gambling. The purpose of “disposable income” is to have fun. What I don’t want to see is our guys going crazy with this crypto stuff and losing money that they don’t have to lose – that is, treating this like it’s a stable investment. Because it is not stable.
That having been said – I wouldn’t sell at any price.
Though it is a good idea to send DS some for sure.
Oh – and I’m going to get the alt-wallets setup soon, for those of you who have asked about donating that way. It’s on my New Year’s to-do list.