Friday, December 8, 2017

The Acceleration of Bitcoin Madness; This is What It Really Looks Like



David Stockman reports on the asscent of Bitcoin:
During the last 40 hours---and, yes, we said hours, not days or weeks or years----Bitcoin has surged by 60%, blasting through $12,000, $13,000, $14,000, $15,000, $16,000, $17,000, $18,000 and now $19,000.
Needless to say, that's not a new "money" being born; it's an old fashioned speculative bubble being accelerated by today's high-speed trading technology.

"....... for those keeping track, this is how long it has taken the cryptocurrency to cross the key psychological levels:
  • $0000 - $1000: 1789 days
  • $1000- $2000: 1271 days
  • $2000- $3000: 23 days
  • $3000- $4000: 62 days
  • $4000- $5000: 61 days
  • $5000- $6000: 8 days
  • $6000- $7000: 13 days
  • $7000- $8000: 14 days
  • $8000- $9000: 9 days
  • $9000-$10000: 2 days
  • $10000-$11000: 1 day
  • $11000-$12000: 6 days
  • $12,000-$13,000: 17 hours
  • $13,000-$14,000: 4 hours
  • $14,000-$15,000: 10 hours
  • $15,000-$16,000: 5 hours
  • $16,000-$17,000: 2 hours
  • $17,000-$18,000: 10 minutes
  • $18,000-$19,000: 3 minutes
  -RW


3 comments:

  1. It's the "high-speed trading technology" eh? Not supply (fixed) and demand (increasing) huh?

    I guess it will tank to $3,000 sooner or later... or won't it?

    http://preev.com/btc/usd

    ReplyDelete
  2. I'm selling all my tulip bulbs so I can buy Bitcoin.

    ReplyDelete
  3. People fail to see bitcoin for what it is

    It is very simple - a digital pyramid scheme.

    That is all it is - You are welcome.

    ReplyDelete