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by conmarap 3125 days ago
Do you all remember when Gold went up to ~$1850 in 2011 (about $2015 in today's money) never to reach those prices again (today's gold spot price is $1294.57)? The price did skyrocket, but what goes up must go down, especially in the financial field. Also, BTC reached the price of about $1150 in November of 2013, and then didn't get to that point until January of 2017 (If I'm reading the data on coinmarketcap correctly). The prices of BTC at the moment were largely driven to this point due to rising political and social upheaval and uncertainty in the market. Bitcoin is currently a bubble that's ready to burst. Also, if you want "privacy" use Monero or Zcash, not Bitcoin.
2 comments
panarky 3125 days ago
> what goes up must go down

Do you all remember 2005 to 2008 when Google stock went from $42 per share to $200 per share?

Wonder what it's trading at today.

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conmarap 3125 days ago
Amazon, as well. Generally speaking, strong stocks keep going up. "Strong" in the sense of innovation and profitability. Twitter, on the other hand, is still struggling.
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xtracto 3125 days ago
There is a school of though in economics that believes that in the current ~20 years economy, there is a recession every 7 years (roughly 2008, 2001, 1994).

This school of thought thinks that a recession right now is due and some people think that it is already cooking. I think the value of cryptos (BTC, BCH, ETH, etc) will be pushed up when these recessions happen.

The value of Gold went up in 2011 due to several factors. EU instability because of Greece was part of that. There was also some USA instability that caused some further grow in Gold price (I don't recall precisely which came first, US or Greece issues).

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