by Jeff Berwick, The Dollar Vigilante:
Last week, I did an interview with Josh Sigurdson of World Alternative Media to talk about the latest news in the cryptocurrency arena and particularly about the future of bitcoin and steem.
There has been plenty of talk about bitcoin being in “a bubble” especially by the likes of Peter Schiff, so I made sure to point out that the real bubbles are mainly caused by central banks who expand and contract the money supply.
Josh made a good point about the volatility and large price swings which take place in the crypto markets and how they scare a lot of people because this is the first time many of them are experiencing what it’s like to trade in a truly free market.
I added to that point that this is part of the reason many people lose money while investing by often panic selling when the price of a particular currency is dropping rather than buying low and selling high or adding to an established position. I compared this to how, logically, when there is a big department store sale, shoppers go in droves to buy up the cheap goods, yet when it comes to investing, people for some reason act in the opposite manner.
And, we got into the fork issue which is still scheduled to occur on August 1st… you’ll want to make sure to watch this video to make sure you understand what is happening.
You can check it out HERE: