David Stockman: Bitcoin Speculators Will ‘Have Their Hands Burned To A Crisp’
“All of these latter-day speculators will have their hands burned to a crisp, and they will learn the proper lesson.”
“All of these latter-day speculators will have their hands burned to a crisp, and they will learn the proper lesson.”
“It’s really a godsend to them.â€
You should be fine as long as the risk factors don’t stretch into the triple digits.
“I don’t think it’s going to be a bubble that’s just going to burst and everyone is going to lose their money, but”…
Here’s a chart that shows you the history of Bitcoin crashes…
So is this the end? Have we seen “peak crypto”?Â
“This is as close to an ETF as one could get in the crypto space.”
It seems entirely reasonable to posit that some of those employees either leaked the information, traded at arm’s length through someone else’s accounts, or both.
Meanwhile, in more “what could go wrong?” news from the cryptocurrency space…
“How do you know when an asset price rise has turned into a bubble?”
This is developing (in the truest sense of the term)…
Ain’t no mountain high enough.
This horse has left the barn.
“The new rules, which will be applied across the European Union, are expected to come into force by the end of the year or early in 2018, the minister in charge has said.”
“…none give you adequate warning when something is going to happen.”
A bridge too far?
“Believe me, I didn’t have this much fun with T. Rowe Price.”
So cue the cheers from those who claim this represents another step towards “maturity”…
Everyday it’s something else.
In yet another truly absurd leg higher…
Well, Bitcoin is now down something like 9% from highs hit just a few days ago, underscoring just how volatile things are in the land of make-believe space tokens.
“For context, Bitcoin’s collapse in value in early September was worse than the collapse in the value of the German mark at the start of the Weimar hyperinflation.”
Well unless cross-asset volatility picks up in a hurry, it looks like the irony for JPMorgan is that they might want to consider following Goldman over to the crypto “dark side”…
“It’s the millennial’s wild west. Like all generations, they’ve discovered a new frontier, with few rules, seedy saloons, gunfights, corpses. As our earthly unknowns disappear, we find new ones in the ether. “
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