Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page >> News >> Story  Disclaimer 
Latest Headlines

Gold Seeker Closing Report: Gold and Silver Fall Before Fed Day
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 3 20 2018
By: Ira Epstein

Fed Day: Mr. Market Meets Mr. Hyde
By: Stewart Thomson

Bear Stearns – A Different Opinion
By: Theodore Butler

Here’s What Inflation Could Look Like in 2020, Based on Past Surges
By: Jeff Clark

Politics And Investing
By: Axel Merk

Jack Chan's Weekly Precious Metals Update
By: Jack Chan

Does Weiner really know what central bankers think better than they themselves do?
By: Chris Powell

Another look at gold’s true fundamentals
By: Steven Saville

The Crypto Market Conundrum
By: Ryan Wilday


GoldSeek Web

The Bitcoin Market would like to thank The Greatest Fool for joining us to celebrate the launch of Bitcoin Futures on the CME…

By: Clive Maund

 -- Published: Tuesday, 19 December 2017 | Print  | Disqus 

As most readers know, Bitcoin is now a monstrous bubble that has the dubious distinction of exceeding in magnitude all previous bubbles in history, going right back to the Tulipomania in the 17th Century. Its recent ascent has been steeper than the north face of the Eiger and even the vertical face of Half Dome in Yosemite. As anyone with even basic knowledge of speculation knows, this means its days are numbered, and it won’t be long before a brutal crash occurs that wipes out latecomers and even dramatically slashes the profits of earlier arrivals on the scene. The only propellant this market has now is the “Greater Fool Theory”, which is where you buy simply because you believe an even bigger idiot will turn up later to buy it off you at a higher price – needless to say, this works until it doesn’t. The start of futures trading on the CBOE today is seen as a dangerous fundamental magnet that has pulled the price vertically higher over the past few weeks, sucking in naïve traders in droves, like the siren song drawing sailors to their doom. Bitcoin’s rise to the dangerous round number $20,000 level over the weekend is seen as the “Greatest Fool” arriving on the scene amid great fanfare and pageantry. Let the slaughter begin!

Let’s not be churlish about this, however, it is important to give credit where it is due. Those who got in early on this Bitcoin mania are true geniuses who have every reason to feel proud of themselves, having made themselves a fortune from even relatively modest stakes. The problem for many such investors though is that they don’t know when to call it a day and jump ship – many overstay their welcome and end up losing most of their gains. If you, dear reader, are one of these fortunate individuals you should get the hell out with the minimum of delay and consider yourself lucky. Sure you might miss some more gains short-term, but when this thing goes down it will be a lot faster than the Hindenburg and leave behind a massive impact crater, as unbridled greed changes in a flash into visceral fear and blind panic and all the recent lemmings disappear straight over the cliff edge – it will go into freefall and bids will evaporate.



| Digg This Article
 -- Published: Tuesday, 19 December 2017 | E-Mail  | Print  | Source:

comments powered by Disqus



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to >> Story

E-mail Page  | Print  | Disclaimer 

© 1995 - 2017 Supports

©, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of, its affiliates or advertisers. makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of, is strictly prohibited. In no event shall or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.