Crazy Week…Thanks ardy:thebolg for the post
What an insane 7 days in the world of alternative investments!
First it started with the inevitable deflation of bitcoin prices from their unsustainable rise to $260 to about $50 in just over 24 hours. This prompted a huge ‘i told you so’ rant all over the media with everyone bashing bitcoins without even knowing what they are in most cases. It did, however, provide bitcoins with massive media exposure just enough to gain the attention of Bloomberg and CNBC; mission accomplished. I actually heard an anchor this morning report the spot price of bitcoins on Bloomberg radio quickly followed by a story on why gold fell so hard.
Now about gold. Just 4 days ago, in the midst of the media frenzy about the collapse of bitcoin prices, gold takes a nose dive from it’s lackluster levels stuck around $1550 to an eye-opening $100 drop to $1450 territory, then…
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