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Bitcoin Prices Surge Past $5,000 Three Weeks After Passing $4,000 (fortune.com)
Less than three weeks after surging past $4,000, Bitcoin reached $5,000 on Asian exchanges Friday. An anonymous reader quotes Fortune: The idea of Bitcoin breaking the symbolic milestone of $5,000 would have been unthinkable to most people at the start 2017, when the price topped $1,000 for the first time. If you're keeping track, the digital currency is up 500% this year, and nearly 2200% since mid-2015, when it was in the doldrums at around $220. There appears to be no single reason for the recent run-up. Instead, it can likely be explained by the same factors driving this year's cryptocurrency bull run: Publicity-driven speculation; New financial products creating unprecedented liquidity; Trading surges in Asian markets; Institutional investors treating digital currency as a permanent new asset class.
"Magical Internet Money Hits $5k" writes Bitcoin News, adding "so far in 2017 bitcoin has outperformed all government issued tender and a vast majority of stocks and commodities."
While the head of the Bitcoin Foundation has urged people to invest "no more than they can afford," Bitcoin now has a market capitalization of $82.6 billion.
"Magical Internet Money Hits $5k" writes Bitcoin News, adding "so far in 2017 bitcoin has outperformed all government issued tender and a vast majority of stocks and commodities."
While the head of the Bitcoin Foundation has urged people to invest "no more than they can afford," Bitcoin now has a market capitalization of $82.6 billion.
Bitcoin is not an investment, it is a gamble.
Hope is not an investment strategy.
...one of those things in life you'll either stand idle by and watch it like it was a show, you'll think "oh why - oh why did I not invest when it was new and cheap", and when it plummets down, you'll sigh a relief and think to yourself - oh, I'm glad I didn't do that, those fools - or you'll be a part of it, getting free money if you pump it out at the right time.
What this world is coming to - is for you and me to decide.
All investments are an "educated" gamble
It's basically one big ponzi scheme
Bitcoin may go up, or it may go down, but it absolutely is not a Ponzi scheme. If you think it is, then you don't understand Bitcoins, you don't understand what a Ponzi scheme is, or both.