The real problem will be the first few might be able to get out, but once it starts to really tank no one will be able to find a buyer for their stock since it has no real value to begin with. The only question is how far will it fall before someone decides to buy up as much as possible and hope it bounces.
I couldn't agree more. The reason I haven't touched crypto is because of how volatile it is. That hard part is, is seeing my friends make thousands because of it.
That being said though a perceived value is only as valuable as people perceive it to be, thus once it falls even a tiny bit it'll plunge like the Titanic. If you've invested then you'd be wise to get out now while it's absurdly high.
Interesting Article. He is right though. Bit Coin has no real value. However, it has a perceived value and that is all that matters.
It's reached critical mass, though. After the Congressional recess there are several measures that will be debated which will completely kill the crypto market. It was good while it lasted, though.
People have been saying that for years. And it has had some momentary crashes, only to come surging back. It has maintained a long period of escalation.
I'm not saying it won't ever tank. I'm just reiterating a well-known concept in investing:
"The market can stay irrational longer than you can stay solvent."
Exactly. Whoever gets out now might make some money (depending on when they bought in) but once it drops, it will fall hard and fast.