Quote:
Originally Posted by afc wimbledon
The trouble is i cannot think of any particular reason BTC can't lose almost all its value other than the fact so far it hasn't, that's the problem with an asset with little utility, as such its a hugely risky long term bet.
I will probably put some cash into Boeing pretty soon, it's a dog of a share right now, company is run by monkeys and doors are falling off its planes in mid air, but it is still the 1/2nd largest aircraft maker in the world, I'd guess that is almost certainly going to get reorganized the guys from McDonald will get punted out and the old Boeing corporate culture will return but even if they don't it's sales, it's patents and products give it utility that is predictable, BTC has none of that, it has no reason to go up or down and no one can really predict what it does because of that
|
I haven't predicted the exact numbers but I have called nearly every major spike in the last 7 years and it wasn't based on spinning a wheel or flipping a coin. When the demand is high and the supply is squeezed it goes up. As more and more of the limited supply is acquired by "stronger hands" the likelihood of a total collapse goes down considerably. BTC started in 2009, if it's a scam or a scheme its a pretty long play. I'm old enough to remember the .com crash and when this whole internet fad was done because the entire world aren't just going to become computer nerds and do all their shopping and conversing online...
Remember we are talking 21M limited supply but some are lost and unrecoverable so it is even less than that, the demand is obvious. These ETFs are taking in BILLIONS.