2/12/17: Bitcoin Craze Heads for the Moon

Just about 10 days ago, I wrote about the Bitcoin being a bubble. And since then, few things happened:
The bubble has now gone into public euphoria stage, witnessed by an ever-growing number of discounted brokerage platforms actively selling access to Bitcoin markets with leverage in excess of 100:1. The bubble has gone from hyperbolic to hyperbolic+ trajectory, adding a massive degree of volatility to the trend. Earlier this week, Bitcoin managed to drop some 21 percent within a day and then go back above pre-drop levels within less than 24 hours. The confirmation phase is now complete with buy-on-the-dip ‘investors’ triggering waves of herding.

This post was published at True Economics on Saturday, December 2, 2017.