The Dirty Little Problem With Bitcoin

As I’ve said repeatedly:

“The problem with investing in Bitcoin is that if you weren’t one of those that were in on the early side prior to it’s $20K peak and holding-on-for-dear-life is that you are now at their mercy. Because every-time there seems to be some stability that appears to attract a new wave of any of today’s BTFD (buy the f’n dip) wanting to get in to make a killing, because they believe “this is it!” Is precisely the time those HODL (holding on for dear life) are going to try and cash out.”

For those thinking I’m off base I offer the following.

Here’s Mr. Tim “This thing is still going to the moon!” Draper just last week in a basic Google™ search. To wit:

(Source)

Here is a chart of Bitcoin as of this writing, again, to wit:

(Source)

And yes, that’s just today, and the day is both still young and far from over.

But then again, what do I know.

© 2018 Mark St.Cyr