Bitcoin Reached $16.000 and Still Going Up, Could $20.000 Be the Next Barrier?

I was looking at some of the other bubbles in recent history - NASDAQ in the late 90's, Commodity bubble in 2009 - 2014, etc. The Bitcoin bubble seems to be accelerating much faster and going much higher than either of those. There's a place for Bitcoin for sure, but if you are getting into it now be very very careful.

This guy on Bloomberg Mark Cudmore I think NAILED it. Bitcoin is an experiment in human psychology, not markets. The craze can still go on for much longer, but at some point... it becomes economically infeasible.

Most of the people in Bitcoin are HODLing it, which means the money isn't doing anything to provide economic value. At some point everyone is going to realize this, or the big Bitcoin holders will start taking their profits. When that happens there might be a big turn in the other direction.

https://www.bloomberg.com/news/videos/2017-12-07/inside-bitc...

A lot of people are eventually going to lose a lot of money I predict.

It went briefly to about $19.7k on GDAX... It is currently $17.6k