iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
18,453 Blog Posts

Ken Fisher Warns: Bitcoin Has Surpassed All Previous Bubbles in Terms of Price Movement

“It is Netscape” during the dot com bliss, says increasingly nervous man with a hand gesture disorder.

Meanwhile, Monaco is higher by another 9%, up $4 from where I discussed it earlier this week. I think we can all agree, there needs to be some level of clarity into what in the hell is going on here. Even Ken ‘Hands’ Fisher is completely ignorant to “the bitcoin” and merely scoffs at it as the bubble to end all bubbles.

Here’s how Bitcoin stacks up against previous bubbles.

Should you be afraid? Yes and no. On one hand, you should be cognizant to the notion that prices will pull back. In order to have a good market, the plebs need to be removed from their coin. Sorry, that’s just the way speculation works, cryptos are no different. On the other, the ICO market is providing vigor into a funding market that might produce some really good companies, assets that would’ve normally sought out funding from VCs and then IPO very late stage and burn investors to death. In the ICO world, there’s a good chance you might be able to snag something really good; but you have to understand the relationship between owning their coins or tokens is totally different from shares, which is where the confusion arises.

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20 comments

  1. sarcrilege

    Not the same this time; btc is different.

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  2. J Adabese (your pen pal)
    J Adabese (your pen pal)

    Ken Fischer. Pffff

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  3. reversion

    I will get worried when these dinosaurs get bullish. Everyday another geriatric announces the death of btc and it storms higher.

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    • sarcrilege

      Your granny called. She wants to know where the best place to buy BTC for her lifetime savings is so she can get in the game with you and become a zillionaire.

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      • moonshot

        Granny still doesn’t know what a bitcoin is or how to buy one. Early innings.

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      • moonshot

        The new coin project I decided on a lark to offer my development expertise to has already doubled and nobody has heard of it yet (no ICO on this one). On top of the 50-60% ROI it is paying me for locking up my coins and running a few servers that secure the network.

        Shittier projects that have been around 6 months longer are 10X or more and we will easily surpass them with just an ounce of professionalism and execution. With a bit of luck and solid work it could easily go 100X without breaking a sweat. One of the coins a couple generations back is already1000X.

        Don’t believe me? I don’t care. I’m having fun raking in fake money and will probably pull out my trivial initial investment and let the circus play out with nothing to lose and massive upside potential.

        Trading on these flin flam exchanges is child’s play too. Easy to make 10-20% per day just playing the spread and riding the daily fluctuations. I’ve probably reduced my basis 50% or more just from doing that.

        So. Much. Opportunity.

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        • reversion

          Sarc just pissed his gold and silver founder at multi year lows

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          • sarcrilege

            Wrong. I thanked God for being merciful and responding to my prayers, lowering the price for me, and letting me get more.

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  4. gappingandyapping

    The question continues to be however, what the fuck are you actually “investing” in? If I buy a stock I am investing in a company, if I buy a currency I am investing in that country, if I buy gold I am investing in gold. If I buy bitcoin I am really not investing in anything other than someone telling me its scarce and you gotta get in now. Well fuck with that mindset why invest in random word patterns that I just created. They are scarce as I have only created 10 of them and you better get into them now before anyone else buys them and they go up in price. What’s backing these word patterns? Well, the same thing that is backing bitcoin, absolutely nothing. Tell me how I am wrong?

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    • moonshot

      Look up ethereum cryptokitties. It will give you fits.

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    • sarcrilege

      Bitcoin is religion. You must believe.

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    • moonshot

      There are real use cases behind many of these coins and many of the leaders have highly flawed tech (Ethereum) and people are still very much figuring out the best solutions and even what the right problems are to solve.

      Take XRP who is tackling regulated international remittances. Solid tech and company behind it, forming partnerships with companies like American Express. Price was sitting at .20-.25 for months. News yesterday that Japan and Korea are entering the first real test of transfers using XRP and the price doubled. Real world use on any scale would make the coin price skyrocket.

      The barriers to entry and usage are coming down. The real world use at scale hasn’t even started really.

      Saying you’re investing in nothing could be said about gold or US dollars. It is only worth what people say it is, none of it has inherent value beyond the value people place on it.

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      • sarcrilege

        Have you ever played in penny stock markets? If you were, you must recognize all the scams, on steroids, in the blockchain space. Bre-X was at one time a penny stock on VSE… draw the parallels

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      • bushwacker2

        “Oh, XRP doubled in one day up to almost 50 cents! It’s in a bubble!”, said the old fart.

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  5. DMXtremelyOnPoint

    If you can throw a dart you can have positive returns in a one week spectrum given the current market conditions. Up $4? Pick literally anything to have that kind of return on a one week spectrum.

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