12-07-2017, 10:32 PM
Most of it is a mad rush of people desperate to get in the action. And most of them are from China, South Korea and Japan.
But...right now it’s shooting up because futures trading starts this weekend, and that will in some ways “legitimize†it. Plus at a basic level it’s a simple fact that there can only ever be a certain number of bitcoin (21 million), most of which are already in circulation, so more demand for a finite supply drives up demand. Unlike fiat currency where they just print more.
It will probably come back down to earth next week (if not sooner) when traders can actually short it. But plenty of people (including me) think it will get to $100,000 or even $1 million a coin eventually. It may just crash down to $1000 (or less) a few times first.
You don’t actually have to buy a whole coin for $16k. You can spend $1000 or $100 on a fraction of a coin, and hope it goes up 10X.
But...right now it’s shooting up because futures trading starts this weekend, and that will in some ways “legitimize†it. Plus at a basic level it’s a simple fact that there can only ever be a certain number of bitcoin (21 million), most of which are already in circulation, so more demand for a finite supply drives up demand. Unlike fiat currency where they just print more.
It will probably come back down to earth next week (if not sooner) when traders can actually short it. But plenty of people (including me) think it will get to $100,000 or even $1 million a coin eventually. It may just crash down to $1000 (or less) a few times first.
You don’t actually have to buy a whole coin for $16k. You can spend $1000 or $100 on a fraction of a coin, and hope it goes up 10X.
Ex SWG, L2, CoH, Wow, and War
Currently PvPing in the stock market
Currently PvPing in the stock market