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Beware of bitcoin bubble, warn investment & nancial

advisors, as it smashes $7,600
Published time: 5 Nov, 2017 10:48
Edited time: 5 Nov, 2017 17:18

Global Look Press

1.8K

Bitcoin's sevenfold rally is one of the telltale signs of a bubble, according to

investment strategists. It started the year at $973 and rocketed to $7,600 on
Sunday, up over 750 percent in 10 months.

Financial advisors warn bitcoin is another bubble similar to the tech boom of the
late 1990s, the housing crash of 2006-2007 and the commodities bust of 2008-
2009.
A month before the 1987 crash, my cab driver said he started day trading,
Scott Kelly, CEO of Black Dog Venture Partners in Phoenix, Arizona told Forbes.
A month before the real estate crash in 2007 in Arizona, my cab driver said he
was getting into ipping real estate. Last week, my Uber driver said he just
started trading Bitcoin.

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@RT_com

#Bitcoin bigger than #McDonalds with market cap of $121bn...

still fails as payment system on.rt.com/8rcm
11:00 AM - Nov 3, 2017

12 68 69

Since making its debut in 2008, bitcoin has gone from no value to a fraction of a
penny by March 2010. Now, one coin is worth over $7,500, and its market
capitalization is greater than McDonald's. For an early investor, $1 in bitcoin
seven years ago is worth millions today.
Since going mainstream, the crowd is piling in. New companies are popping up
everywhere selling you on buying bitcoin for your retirement, writes Forbes, as
newsletters tout their bitcoin trading strategy could make $1.64 million in 72
hours. Stories of overnight cryptocurrency millionaires abound.
READ MORE: Bitcoin skyrockets into stratosphere smashing $7,000 level

While opinions have been split on the world's most popular cryptocurrency,
business leaders like Warren Bu et, Jamie Dimon and Robert Shiller have
warned bitcoin is a bubble.
But it is anybodys guess what inning. It looks to me like were well ahead of the
7th-inning stretch, said Jason R. Escamilla, CEO of ImpactAdvisor, an
investment advisory rm in San Francisco, as quoted by Fobes. The price level
and energy usage are unsustainable. There is far better technology emerging to
meet the same needs.

RT
@RT_com

#Kaspersky Lab detected #malware which targets your cyber-

wallet on.rt.com/8r9p
6:48 PM - Nov 2, 2017

Kaspersky Lab detects virus that steals bitcoin & other crypto
Cyber security firm Kaspersky Lab, recently accused of spying for
Russian government, detects virus stealing bitcoin and other
rt.com

11 90 70

Ethereum, bitcoin cash and ripple could be those technologies. Bitcoin accounts
for about 61 percent of the cryptocurrencies market that is worth nearly $200
billion, according to CoinMarketCap.com. If bitcoin crashes, there is nothing to
prevent any of the alternative coins from taking over.

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