Bitcoin: The Best Performing Investment of the YearBy on 2016 Dec 29 Thu 2:37
Here is the weekly Bitcoin chart in US dollars.
This virtual currency, or whatever asset class you want to name it, it is definitely one of the best investment ideas for year 2016.
How funny people are saying that it would simply crash and disappear?
As I explained before, the value of a “currency” depends on its acceptance. Since bitcoin is accepted worldwide, it has already gained a position that the currencies of small countries can be compared to.
Is this pure speculation? Maybe. If you look at the hidden premium like the value of US dollar or Euro, there is no difference there either.
Since Bitcoin has finally reached its primary target of 900, it will be a difficult path ahead for it to make further gain going into year 2017.
One thing I am sure about though, is that Bitcoin will continue to behave in a way we can understand through the lens of STOPD and classic chart reading techniques.