RE:RE:Crystal Ball....Bitcoin to me is a piece of expensive to run software which sat as an invention looking for a purpose. It has had utility for avoiding scrutiny but that picture is changing.
Why BTC has shot up is the same reason why commodities have climbed. Fiat money debasement means investors are looking for a prudent place to park and retain purchasing power. However as in all fashion items such as tulips the race to an asset with no underpinning becomes mania.
Gold and hard assets are traditionally preservers of value but in this new age of technology fads BTC has become a great asset fashion accessory.
However fashion is fashion and eventually this fad will pass. Gold commodities and real estate farm land is the traditional method and it will prevail.
Why? governments recognise asset recognition in gold real estate etc. but BTC actually goes against their grain. Just wait for events to unfurl unless governments want to have BTC as a currency representing an endorsement of value (I promise to pay the bearere...) it's days are numbered. To me it is just a pyramid. It works until the next mug just says piss off.
Meanwhile some wily market people are jumping onto BTC but with the sole purpose of engaging in quick returns. ETF's are the new place for BTC. Now BTC ETF's will behave just like paper gold. A highly manipulated market place where bankers and gamblers will use them to extract money from the 'plebs'.
It will create a problem for governments which means they will kill it with 'sensitivity' meaning the big guys get prewarned and then letting the little guys get fleeced.
Stick to gold. If central banks keep retaining it, it is good. If they throw it out into the sea start to worry big time.
Stick to gold and hard assets.