A couple of times now I’ve told you not to start buying Bitcoin again yet – but let me reiterate…
We’re not counting Bitcoin or cryptocurrencies out.
Despite the recent extreme turbulence, there are many fundamentals behind the best cryptos – and the blockchain technology that backs them up could be the most disruptive tech innovation to come along in years.
This is a phenomenon you must keep up with. And we will.
While Bitcoin’s price is determined the same way a stock’s price is – through price discovery on an exchange – just like stocks, many other factors cause things to get much more complex.
So a lot of catalysts went into driving Bitcoin’s price up close to 2,000% during 2017. And a whole ‘nother set of factors drove it down from north of $19,000 in mid-December to around $8,500 today.
I’m talking about threats of regulation, actual regulation, comments from this or that government official, market manipulation, and good, old-fashioned hype.