This is a very good possibility – that bitcoin is producing day traders. Bitcoin has just about doubled this year and may go up farther. And while it may go up even more it is still in the hands of very few people.
Meanwhile rival Ethereum has gone up some 4,000 percent from $7 last December. It is now more than $300. Marketwise, cryptocurrencies have gone from $20 billion in January to $110 billion now.
As stocks become even more expensive, trading has moved toward digital currencies. In the 1990s, new technology attracted a whole group of individuals who traded with considerable discipline – until the market finally ground down.
But until then, dot.com stocks attracted considerable attention, and now the same attention is being paid to cybercurrencies.
The trouble is that sooner or later many cybercurrencies will collapse just like dot.com stocks.
This is going to happen no matter what. And when it does, a lot will change because the crash won’t just bring down cybercurrencies but will have a considerable effect on a lot of other investments.
But in the meantime, the idea that cybercurrencies are increasingly becoming the dot.com stocks of the ‘teens is a very likely idea.