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Bitcoin value tops $16,000 and shows no signs of slowing down

By Shawn Knight ยท 16 replies
Dec 7, 2017
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  1. Bitcoin’s track record is a lot like a manic-depressive illness, defined by extremely high peaks and incredibly deep valleys. Judging by its latest rally, the popular cryptocurrency’s volatility isn’t going to normalize anytime soon.

    As of writing, Bitcoin is trading just north of $16,000 per coin. Remember, the cryptocurrency just got back to the $1,000 mark in January following a post-bubble period that lasted a few years and kept values down around $500. Bitcoin picked up momentum in the spring and has never really looked back.

    Just one week ago, everyone was flipping out when Bitcoin hit $10,000 for the first time. Again, that was just last week! Insane.

    The news comes on the heels of Valve’s announcement that it would no longer be accepting Bitcoins as a payment method due to high transaction fees. Perhaps they’re already regretting that decision?

    Part of what makes Bitcoin so appealing is the uncertainty and sheer risk involved in investing. It’s literally anyone’s guess as to what will happen next. Will we see a $20,000 Bitcoin… perhaps by the end of the week? Where’s the ceiling? When should you cash out and diversify? Will the proverbial bubble finally pop and send values plummeting?

    We’ve never seen anything like this. About the only thing that can be guaranteed is that there will be lots of big winners and losers in this game. It all comes down to timing (and I suppose, a bit of luck). If you’re on the roller coaster, just remember to enjoy the ride!

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  2. yRaz

    yRaz Nigerian Prince Posts: 2,252   +1,315

    Were in a bubble, I don't want to be in this if or when it crashes. if people lose tons of money on bitcoin it could be made illegal in a lot of places devaluing other crypto currencies
     
    MonsterZero likes this.
  3. MonsterZero

    MonsterZero TS Evangelist Posts: 429   +217

    Great, if you could actually spend it anywhere.

    I'll be here to scoop up all those 1080Ti's people are using in their mining rigs for a quick buck. I hope it does burst to video card sales will go back down to a reasonable price.
     
    JaredTheDragon and andrewdoyle88 like this.
  4. Legionnaire

    Legionnaire TS Booster Posts: 26   +42

    What do you mean? :S You can. If you'd rather have dollars or other currencies just convert it and get the money sent to your bank account.
     
    jukeyjunk and Panda218 like this.
  5. stewi0001

    stewi0001 TS Evangelist Posts: 1,657   +1,048

    I wish I had some but at the same time I am glad I do not have to keep a close eye on it.
     
  6. Evernessince

    Evernessince TS Evangelist Posts: 1,991   +1,194

    The value of this currency is increasing much faster than actual market demand / difficulty increases. This massive bubble's got to pop at some point.
     
    JaredTheDragon likes this.
  7. Vulcanproject

    Vulcanproject TS Addict Posts: 191   +125

    Surely at this point the price is only being driven up by the hype itself and the demand to get on the hype train? A massive crash has to be on it's way, just a matter of time
     
    JaredTheDragon likes this.
  8. Cycloid Torus

    Cycloid Torus Stone age computing. Posts: 2,898   +600

    Good plan.
     
  9. Theinsanegamer

    Theinsanegamer TS Evangelist Posts: 841   +856

    I really wish I had invested $100 into them back in high school when they were $5-6.
     
  10. Vulcanproject

    Vulcanproject TS Addict Posts: 191   +125

    It hit $1 per coin in spring 2011. So only 6 and a half years later any holdings would have increased by 16,000 times. It's absolutely incredible. If you had a time machine then who needs Gray's Sports Almanac? Just buy a few hundred dollars worth of bitcoin.
     
    vimann and Rippleman like this.
  11. Bilibong

    Bilibong TS Rookie

    Microsoft and Newegg both accept Bitcoin
     
    DaveBG likes this.
  12. gusticles41

    gusticles41 TS Maniac Posts: 187   +167

    I dabbled in BTC Summer of 2016, had $56 worth when I got bored of it. Seriously contemplated just leaving it to see what would happen, but cashed out like a dummy.

    $1,621 would be it's worth right now. Whoops :)

    But you can't think like that, it's not productive.
     
  13. Ean Mogg

    Ean Mogg TS Enthusiast Posts: 34   +12

    The Super Rich are panicking now as there only so many bitcoins in circulation there aren't any new ones to buy so those Rich bastards that bought them up as a cheap investment are trying through their brokers to get rid of them as of all the facebook ads before they CRASH and they will and they can't get any ***** to buy at this price unless they took a hit to their profits and sold well below their value ...anyway they are fooked whatever they do ..
     
  14. OutlawCecil

    OutlawCecil TS Maniac Posts: 258   +129

    Friend gave me $5 worth of bitcoins a while back for helping him out and I've never touched it. It's worth about $155 as of today. I just bought another $200 worth when it was worth about 11,500. Lots of professionals are expecting 40k and above but less than 100k for the ceiling. This is crazy!
     
  15. yRaz

    yRaz Nigerian Prince Posts: 2,252   +1,315

    Actually new ones are being made everyday, but there is still an eventual limit supply. It is speculated that the last bitcoin s will be "mined" by 2045
     
  16. fernandovilches

    fernandovilches TS Rookie

    This is crazy!
     
  17. Phr3d

    Phr3d TS Guru Posts: 404   +84

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