http://www.forexconspiracyreport.com/how-much-will-you-lose-when-bitcoin-falls/
How Much Will You Lose When Bitcoin Falls?
We recently wrote about bitcoin as an alternative to the Venezuelan bolivar in our article How Bad Does a Currency Have to Be for Bitcoin to be a safe haven.
We recently wrote about cryptocurrency traders flocking to bitcoin and experts being confused about the cryptocurrency. The bottom line is while bitcoin is the most reliable of the online currencies it is highly volatile and potentially dangerous. Nevertheless in two nations especially traders are still buying bitcoins. These nations are Venezuela and China and traders are doing this for two different reasons. Venezuela’s currency is in free fall and we wrote recently about what caused Venezuela’s currency to fall so far.
But bitcoin is still on an upward path breaking the $4,000 barrier as the cryptocurrency feeding frenzy continues. Good for you if you bought bitcoin when it was worth about 10 cents in 2010 or when it fell from its $1000 peak and sold for $250 in 2015. And good for you if you bought for less than $2,000 on a correction just a few weeks ago. But how about now that the most popular cryptocurrency is selling for $4,391? What is going on?
Weekend Buying
Bloomberg notes that the bitcoin has jumped on the past two weekends. This would imply that it is not day traders who are driving the price up but people who are free on the weekend from their day jobs and worried about the future who are driving bitcoin to greater heights.
Bitcoin’s surge continues in the wake of the split that had sparked talk of threats to its growing acceptance as an alternative means of exchange.
4. http://www.forexconspiracyreport.com/how-much-will-you-lose-when-bitcoin-falls/
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