South Korea is imposing tax & record keeping requirements that will probably close the Bitcoin exchanges there.
There are 17 million bitcoins in existence, which means the total value is now around $180 billion, down from about $330 billion a few weeks ago.
Once bitcoin collapses, tech stocks follow.
The only people I've met who are bullish bitcoin are those that actually own it. And I've met VERY few.
If the chart is supposed to make me bearish on bitcoin it has not. I asked a friend who owns/trades bitcoins how many times it has lost 75% of it's value on the way to these heights. He said 5 or 6. It is the greatest bull market in the history of mankind. Not the greatest mania however ...(yet)
And with a margin of $26k+, will keep a lot of traders out of it.
WHat is the contract size on that 26K margin.
Thanks in advance.
I don't know of anyone who owns any bitcoin. this is not like tech stocks in 1999, or real estate in 2007.
can something be in a bubble if so few people are buying it?
bubbles usually happen when everyone is buying tulip bulbs, or when everyone is buying bonds, etc.
