RE: (VIDEO) ALERT! Dollar Falling AGAIN. Oil Higher, Gold, Silver, Bitcoin, Stocks. By Gregory Mannarino
@marketreport Thank you again Greg! I have spent my most of my life working with ex-cons, former drug addicts, and the homeless and I try to change other people's perception of them as well. Hopefully that counts as giving back!
Can you do a video from a traders perspective of crypto bubble? I have a couple of friends who are precious metals advocates which i am as well that think bitcoin is a bubble and no asset class should be rising the way that crypto/bitcoin/ethereum is rising. I understand his point it's the hyperflation that is coming and the collapse of other currencies, economies, and political instability that is causing this increase which is why i don't think we're anywhere close to a bubble. I like to stay open minded and I believe we're right, but this is also my friend that introduced me to precious metals and i do value his opinion.
Until the venerable Greg replies, I have read many items by people who have absolutely no understanding of the cryptoverse claiming that it is in a bubble. Japan accounts for 40% of bitcoin now that they made it legal tender. There are many big corps invested in ether, which is not a currency so much as a token, and there are many more to join soon. I wish I had put some of the money I put in metal into the btc.
I agree. The bitcoin bubble is just the beginning. Rich Chinese continue to try finding ways to get money out of China. So bitcoin has much higher to go, I think. There has been too much dirty money made among the politicians and the businessmen in China. To avoid being investigated, as well as the coming collapse in the real estate, they still have yet much more money waiting to get out. The Chinese government continues to impose more and more regulations on money in the banks, so this has been the only way to get money quickly and in large sum out of China. This is why the price skyrockets everyday, because the Chinese trade bitcoins in large amounts.