Is BITCOIN the next TULIP BUBBLE ready to BURST!?
I heard a few people this morning on the airwaves comparing BITCOIN to the tulip mania [and crash] of a few hundred years ago. What was the tulip bubble I hear you ask? Well ….without rambling on, I will let the video below do all the explaining for you in about 60 seconds to help you catch up!!!…
Although charts of this mania were hard to get hold of, here is a picture of what the price boom and bust looks like on today’s charts!! As you can see below, its quite dramatic! i.e. Price of tulip bulbs ( 1634 - 1637 )
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The biggest U.S. cryptocurrency company OR COINBASE has reportedly been valued at billions of dollars and that's a very good sign for the crypto industry's legitimacy, when you think about it.
Coinbase [the exchange] is negotiating a deal with investment firm Tiger Global that would value it at about $8 billion USD. If we can put that into perspective here, then, the deal would make it one of the most highly valued U.S. start-ups.
When I went ahead and investigated these guys, at Tiger, I found out pretty quickly, that it's not a flakey investment firm. These guys are smart, and spend 1 year or so doing heavy research before they invest 1 cent of their hard earned money!
Of course some people hate crypto, and lets not forget, Wall Street has not been entirely sold on both the idea and the VALUE of cryptocurrency.
Berkshire Hathaway CEO Warren Buffett famously equated bitcoin to "rat poison." but lets face it, the banks are being threatened by bitcoin, and Mr Buffett is heavily invested in BANK STOCKS, so it is his duty to call bitcoin a scam or a ponzi scheme! If bitcoin is ‘rat poison’, then the BANKS ARE THE RATS!! lol, but we will save that whole conversation for another day. *laughs out loud*
In Buffett’s defense, Bitcoin has actually dropped more than 53 percent this year alone, and was trading near $6,540 as I wrote this article. Other coins like ether and XRP fared even worse, and are down 65 and 76 percent respectively in 2018.
Our chatter bot software has been hinting for a few months now, about major institutional money magnetizing to BITCOIN soon, and other crypto coins for that matter. If major funds start investing in bitcoin, it could light the spark once again and open up a whole new paradigm in the form of a positive price movement for all things CRYPTO.
I am hearing rumors of large multinational pensions funds, and endowments wanting to enter this space. If this was to play out, that would make the 6pm news at night, and so for now I need to check my sources to ensure these are not just rumors. I will UPDATE MY MEMBERS => HERE<= SOON!
Timing is everything, and you simply can't time the crypto market with any consistency over the long run, even our members who claim our crypto chatter bot is highly accurate in calling the big ups and downs in the market, we have to admit this is not financial advice and we do not actually know what happens next, we are just formulating information prescribed to us from text, and chatter picked up on the blockchain, and handing that data over to you when we feel it necessary. You can get the full releases here and back issued calls as well below…..
With an $8 billion valuation of crypto exchange Coinbase proves cryptos are not 'tulips' I am sure lots of people disagree with me, and that is ok, but if people are saying bitcoin and coin base are going to FAIL, that is like saying BLOCKCHAIN is going to fail, and I can tell you I have one fund manager I have spoken to, can tell me that so many of his friends are putting money into blockchain, and these are smart guys who dont invest in crap! He does not think that blockchain will fail, but he does think it will be a rocky road! In my eyes, that is a pretty valid statement!
More updates coming….
Have a great day.