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.
-RW"....... 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
It's the "high-speed trading technology" eh? Not supply (fixed) and demand (increasing) huh?
ReplyDeleteI guess it will tank to $3,000 sooner or later... or won't it?
http://preev.com/btc/usd
I'm selling all my tulip bulbs so I can buy Bitcoin.
ReplyDeletePeople fail to see bitcoin for what it is
ReplyDeleteIt is very simple - a digital pyramid scheme.
That is all it is - You are welcome.