Torque
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January 02, 2018, 07:37:57 PM
Last edit: January 02, 2018, 08:06:11 PM by Torque

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What was our truly dumbest comment of 2017? There is no question: it was, and is and shall be going into the New Year our statements regarding Bitcoin. We thought it was a bubble at $5,000. We thought it was a Bubble at $10,000 and at $15,000 and at $20,000. We thought it would crash and burn long ago and clearly we were wrong

Dennis Gartman

And yet the U.S. stock market is the most overvalued of any point since the Roaring Twenties, but eh no problem it's perfectly fine.  Roll Eyes

And I guess it gets lost on Dennis that the Wallstreet establishment is desperate to first get a Bitcoin Futures market and then Bitcoin ETFs propped up and fast. They surely aren't going through all the trouble and effort because they want to use them to fleece a bunch of supposedly dumb millennials. That wouldn't be worth the effort. So why the sudden rush? After all these years of Bitcoin being around, why now?

Perhaps Wallstreet views Bitcoin as an "uncorrelated asset" (read: not overleveraged and over-collateralized to the moon like equities)? Perhaps they know something bad is coming 12-18 months from now? Or that a Black Swan could come out of nowhere any moment?