RE:RE:RE:Cryptos vs goldI said awhile ago that with what China was doing, leading the world for sure, with digital currency, that it wouldn't be long before they removed Bitcoin, and the baby sisters, from China. Other countries like India, Turkey, Nigeria, and probably others have indicated they will follow. Soon the 'Coins' will be a minor gambling device in a few western countries.
It is interesting, to me anyway, that as Bitcoin hit around $60,000 it was said to have a market cap or market value or whatever (hard to label something that doesn't exist in any meaningful way) of a trillion. So as Bitcoin fell to close to $30,000 today, that would mean it would have been worth around half a trillion - $500 billion. I just looked and Tesla today has a market cap of $542 billion (all US$) , so Bitcoin was worth as much as a ,what, tenth rate maybe, car company that has never made a profit from selling cars. (Tesla made a little profit last year from buying and selling Bitcoin involving ,many would say, market manipulation) Talk about a paper tiger - both Bitcoin and Tesla I would say.
The little bounce off the big drop today is a classic dead cat bounce. So if you were dabbling in the 'Coin' market, and didn't lose enough in the past little while, then here's your chance.