Bitcoin’s Berserker Run Resumes After Exchange Breaks; Novogratz Says “Not Close To The End”
Bitcoin’s Berserker Run Resumes After Exchange Breaks; Novogratz Says “Not Close To The End” from ZeroHedge
TDC Note – The only thing I like about bitcoin is the fact we can see what free markets, in a panic, look like, act like and how people respond as our world continues to fall apart. Bitcoin, and cryptocurrencies, prove beyond question people are awakening – not very many, but they are awakening – and they don’t like what they see with their respective national currency nor their government. These so-called currencies are a direct reflection of the peoples disdain for both their currency and the fact they no longer have any trust in their government. $19,000 for an illusion? Seriously – think about it.
Bitcoin is extending its gains after the 25-minute shutdown on GDAX…
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Mike Novogratz – self-described as the “Forrest Gump of Bitcoin” – is on the wires calling Bitcoin a “cultural revolution.”
“The world is in blockchain speculative phase… not close to the end of the speculative phase”Novo added that Bitcoin futures will give rise to ETFs and even broader adoption and a “sell-off after the speculative phase is complete.”
“Cryptokitties will be a fad”
“It’s hard to mitigate volatility risk in Bitcoin”
Novogratz says “banks will be slow to move into the industry and doesn’t see quick adoption of Bitcoin as a currency”
For now he has 25% of his net worth invested in Bitcoin/Blockchain and warns investors to “be careful” in non-Bitcoin tokens.
GDAX is back up after a 25 minute ‘glitch’… and Bitcoin is rebounding
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GDAX just broke…
Additionally, Bitfinex says it is under a significant denial of service attack.
As Bitcoin tumbled $4,500 from its highs…