The Trump boom, which started in late 2024, is not over yet, but like gold, silver, and oil, the price of Bitcoin is plummeting. It is also not a safe haven from reality, as has always been obvious.
Now, I know, part of this might be down to pressure on the dollar.
If the price of dollars is falling – pressure – then the price of other assets measured in $ goes up.
Sheesh.
Whenever prices of shares (or gold, or silver, or bitcoins, or …) change dramatically I do try to remind people that journalists may well be right that the prices have changed but they have no more idea than our cats about the cause. And our cats are dead.
Nothing to do with the dollar. It’s simply that Bitcoin is a greater fool investment. And once you get to the point of maximum fool, the price stops moving. Once it stops moving there’s no reason to hold it. And if people start to see it falling, you’re going to get a run.
These things were once about 15p each. They’re now £56,000. There is no reason they can’t be 15p tomorrow.
Gold price ‘plummeting’ needs some context. It’s still up 37% in last 6 months.
Reports of its demise are grossly exaggerated.
Gold has plummeted upwards to it’s current price of $4932.31 per oz
My small share portfolio has increased from -7% as at 1st Oct last year to +11.4% at yesterday’s close.
The LSE index is at 10360.27
The NYSE index is at 22885.65
What dictionary has Prof. Kartoffel used to obtain the definition of the word “plummet”?
I think it’s a shore bird.
To be properly understandable it needs to be priced in loaves of bread. On the radio they said gold was $500 an ounce, and my only thought was: is that a lot? One pound of money no longer buys you one pound of silver, but does one pound of silver buy you what it could when it did?
$5000 an ounce more like. If it was $500 an ounce someone’s invented a time machine and taken us back to 2006.
Only 20 years for a ten-fold increase? That shows how much real money’s value has lost value. I don’t think I could have bought 5000 loaves of bread for $500 back in 2006.
What this fucker knows about reality I’m not sure.