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Is Bitcoin Greatly Rotating Into Bullion?
While correlation is not causation, the coincidental timing of the tumble in virtual currencies and the surge in physical (alternative) currencies suggests another great rotation may be occurring... with gold at fresh 3-month highs as Bitcoin presses 3-months lows...
While not surprising, the chart above also shows the massive collapse in Mt.Gox pricing as the world and their virtual pet rabbit run for the exits...
Gold is now up over 12% from the post-Taper lows...
and Silver is exploding higher... up 15.6% now in February alone.
Charts: Bloomberg and Bitcoinwisdom
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Mt. Gox is like a "roach motel." You can put money in, but you can't get anything out.
I guess it's a good sign for Bitcoin's future that most people on here are haters. The majority is always wrong. Only a few see the trends coming and even fewer will act upon the emerging trend, instead they always fight the new idea. Typical, but I guess I should thank you idiots for allowing me to buy more Bitcoin for cheap.
Thanks Losers.
Did you change your identity fonestar ?
Enjoy your cheap bitcoins
Kim Jong Un is happy that you love his paper rectangles with pictures of dead guys drawn upon them. Enjoy those while I print them over and over and over and you gladly accept them as 'money' with 'value'
I don't love or hate it. I don't trust it. If you are using emotions to "invest" your wealth you are in a heap of trouble. This is money, not your favorite football team.
And with the Bitcoin Bubble entering the fear/panic and despair deflation stage, any current holders should be dumping bitcoins overboard just as fast as they can.
http://www.thereformedbroker.com/wp-content/uploads/2011/06/bubble-phase...
Got to say I posted this chart at each stage of the bubble, explaining exactly which point we were at. Those of you who failed to sell at the top and make a bundle should be kicking yourselves in the balls as hard as you can.
Those of you who bought at the top and who are still holding, well you are as dumb as a box of rocks and there is really no helping people like you. You just have to run off the cliff with the rest of the herd, don't you.
As much as I understand the limitations of bitcoin and the block chain, I'll maybe pick some up at 90% off sales prices during the despair phase.
I think you confused dollars with bitcoin. Good luck with your fiat paper tulips.
nothing wrong with holding through the dips, if you can't be troubled to trade. 3.5k by August, 17k by April 2015.
Bitcoin just became worthless. That was quick!
A big giant Fuck You Sucker! to the shitcoin shitstain Ponzi scheme sucker champion of the world........
Reggie!
Middle!
FINGERRRRRRRRR,