Monday, November 13, 2017

Bitcoins or Tulipcoins?

Bitcoin's roller-coaster ride cuts $38 billion before reversal.

Bitcoin is proving that investing in digital currencies isn’t for the faint of heart.

After plunging as much as 29 percent from a record high following the cancellation of a technology upgrade on Nov. 8, the largest cryptocurrency came roaring back in early trading Monday before fluctuating between gains and losses.

“Crypto trading is not for the novice investor,” said John Spallanzani, chief macro strategist at GFI Securities LLC in New York.

Ya think?

Bitcoin has been a huge winner for those who got in early. Even if the crypto-currency has been extremely volatile. But is this thing really the kind of currency you can go to the grocery store and buy a loaf of bread? If the value is fluctuating like crazy, how can there be a stable market for anything?

Is Bitcoin the latest Tulip bulbs mania?

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