So did you buy Bitcoin when it reached $18,000

If you did I’m sure you are crying in your beer today. I tried to warn you when it reached $10,000 but did you listen? Noooo!
OK, I said this was all speculation and the bitcoin had no value or support by any entity behind it. The only thing driving the price up was greed. I still think that it will drop back low, probably less than $5,000 since there is nothing to support it. Just now it is about $12,450 down 20% for the day, but people are still buying it. It may end up higher at days end but I would consider that as a “dead cat bounce”. That means that after falling so low that even a dead cat will bounce higher after the fall.

So good luck to all you speculators out there. Me, I’ll keep being a value investor, won’t get rich quick, but won’t take a fall either.

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