Bitcoin Bubble Balderdash
The Mass Media and Cryptocoin Critics Humiliated by Their Bitcoin Bubble Balderdash.
Judging from news outlets a few days ago Bitcoin was a dead coin walking. The word bubble was bandied about in headlines with the articles themselves having the unmistakable tone of “Ha ha! Told you so!”
Take a look at this Wall Street Journal article published just four days ago: Bitcoin Wasn’t a Bubble Until it Was.
Here’s a shining example of Bitcoin bubble balderdash published in Bloomberg back on December 11th: Yep, Bitcoin Was a Bubble. And It Popped. The takeaway from this opinion piece? Bitcoin is finished. Millenials are feeling pain and will continue to suffer.
You can almost hear the evil, maniacal laughter of the writer while reading his opinion.
Now get ready to laugh at this u-turn published in Bloomberg today: It Looks Like Bitcoin Has Found a New Bottom This writer cheers the 20% gains in Bitcoin in the past week pointing out BTC is on its best run in three months. This is NOT Bitcoin bubble balderdash.
So what are all the talking heads and pundits saying about the Bitcoin bubble now? Nothing. Not a word. Nary a peep. They are suddenly silent.
That’s perfectly understandable if you stop and think about. It must be difficult to talk with egg on your face.
For years Bitcoin predictions have turned into a running joke. Some experts have predicted and, indeed, still predict Bitcoin and/or the cryptocoin flavor of the day going to the moon leading to Lambo shopping. Then we have the naysayers who sneer as they take perverse joy in joining the ranks of harbingers of doom.
Somewhere between blind blissful optimism and piss-on-your-parade pessimism is the sacred middle ground known as the truth.
The truth is that Bitcoin isn’t going anywhere. It’s not a stock or a bond. It is not a country or a company. It is not being overthrown and it is not going out of business. Nobody knows where it’s going so either you’re in the game or sitting on the sidelines. Either way, let’s ignore Bitcoin bubble balderdash.