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My thinking is this: bitcoin and other digital currencies are becoming more and more “popular” (literally). More and more “ordinary” people start investing, the
by baxtr 9y ago
My thinking is this: bitcoin and other digital currencies are becoming more and more “popular” (literally). More and more “ordinary” people start investing, the barriers of participation are coming down. As long as there is a large enough pool of people willing to join the party, prices will continue to rise. The question is when to pull out. I always get nervous when cab drivers start giving me free stock advice. Hasn’t happened yet with coins. So: way to go!
- wslh 9y agoJust Coinbase added 100k accounts last week: https://www.cnbc.com/2017/11/25/bitcoin-tops-8700-to-record-high-as-coinbase-adds-100000-users.html https://www.cnbc.com/2017/11/25/bitcoin-tops-8700-to-record-... I have been talking with a lot of this "ordinary" people who started investing in cryptocurrencies and I am scared.
- viraptor 9y agoDepends... is it accounts for people who opened them to invest now, or is it for those who want to be prepared for the crash and some quick gains.
- wslh 9y agoMost of the people I talk with have no idea about the risks involved and they cannot time the market.
- tzakrajs 9y agoI've got people on my Facebook feed posting regularly about how we all need to buy BTC now while it is on the rise. They brag about their winnings and encourage others to play too...
- lowbloodsugar 9y agoCame up at family gathering over Thanksgiving. The masses know about it because of its massive increase in value and are all afraid that they are missing out.
- baxtr 9y agoThere you go! How many of them have an account yet?
- empath75 9y agoYeah. It’s a sign that the bubble is going to pop soon. Honestly the stock market is getting to be the same way. People should start moving money into safe investments and be prepared to ride out a storm.
- learc83 9y ago>Honestly the stock market is getting to be the same way. People should start moving money into safe investments and be prepared to ride out a storm. If you have a way of accurately predicting when that storm will happen and when it will be over, you should look for ways to cash in on that. Otherwise pulling money out of the stock market because you think there might be a bubble is a terrible idea. People have been warning of a bubble for the last 5+ years--there will definitely be a downturn, but it could be next year it could be 10 years from now. The average person should adjust their portfolio based on how much time they have to keep investing, not based on reading the market entrails.