BTC $1073 USD XAU $1239 USD Getting there... I'd say a few more bitcoin millionaires were minted tonight.
I see it but I don't believe it OMG This makes sitting and watching FMG go from sub 1 dollar to 130 like kindergarten BTW.not involved in either of them Just WOW
The psychology of those in the game must be interesting. which fear is bigger ? Fear of not taking profits before it drops back down or the fear of missing out on further gains ? Or have you convinced yourself that 'this time really is different' and that you can just keep holding and buy a house and Lamborghini ?
Interesting questions, but you seem to forget that most of us here know the crushing feeling of a losing investment - we do stack silver and gold, after all. For me, it is this: 1) Cash out a fraction of my stack 2) Set targets for BTC and LTC accumulation, do some horse trading on the exchanges until targets are met 3) Hold for 1 year I personally am not in this to flip a quick profit. Whether it goes up and down now is of no consequence to me - I'll buy more on the dips and get my cost average down. Take a note out of Goldpelican's book and trade the BTC and LTC ratios like you do with gold and silver. The main thing that appeals to me about these crypto-currencies is that it is very difficult to short them. That means that we don't get screwed over when the players at the COMEX decides to sell 200 gold contracts at opening and the spot price drops $50. We all know that the current mometary system is screwed up with all the money printing and many claim that if gold was allowed to rise to its natural price, it would currently be something like $3000/oz. Well, what if crypto-currencies are putting expression to that frustration of manipulated PMs? A market that can't be shorted that deals in an alternative currency to the USD? Of course, no one can doubt that there is rampant speculation occurring at the moment! But to take a chance on this stuff with a small part of my stack is just diversifying my assets. Crypto-currencies not backed by anything? Well, tell that to all those people that have US treasury bonds. The difference between the two is that while both are not backed by anything tangible (faith in the US to "make good" their debts is NOT tangible!), at least the crypto-currency supply is governed by mathematical algorithm and not Janet Yellen.
I've seen the lines myself outside bullion retailers when PMs rise. Ooh nooo..think intrinsic value or something,..not speculation. Now rinse and repeat.
I guess you are because now you're a guru Btc and ltc trader Just like all the other latecomers that are clambering on board at the moment
Gotta laugh... I transferred some funds for LTC purchase before the ramp at around $4 - they just turned up at $40. For some reason I find it a lot more difficult to invest at this price Timing is everything...
Don't look now but BTC in China is 'pumping it like litecoin': http://bitcoinwisdom.com/markets/btcchina/btccny My theory, people are converting there LTC gains from last night into BTC, as there is a lot of red on the LTC/CNY chart in China. http://bitcoinwisdom.com/markets/okcoin/ltccny (looking very eerie indeed.) CNY going through the front door into LTC, leaving through the back door into BTC. Important to note, BTC in China, still hasn't smashed through it's previous high from the 19th of November 2013. But it looks on track to do it tonight.
I still believe LTC will have the bigger % gains in the near term. Keep an eye out for a blow-off top...... just my opinion.