Bitcoin seems unstoppable. Perhaps tulip bulbs did too, in the 1600s.
The price of Bitcoin crashed through $19,000 today, just days after hitting $10,000, $12,000, and other psychological barriers, and then retreated to $18,000. Many cryptocurrency experts are predicting Bitcoin will hit $50,000 or even $100,000 as institutional investors continue to pile in.
The pricing chart looks like a classic bubble before the crash.
The question is: how long can this proceed?
One of the drivers, according to James Ross of HedgeChatter, is lack of trust in government-issued “fiat” currency. Fiat currency is not limited in supply — as we’ve seen in recent eras of “quantitative easing” […]