FinTekNeeks

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Bitcoin Price Warning

Posted in Cryptos

The following article covers a token or element in the cryptosphere. The cryptosphere is new and exciting, but changes rapidly and often in ways that do not benefit users. By the time this article is published, changes may have already occurred. Most tokens in the cryptosphere are complete scams that are get-rich-quick-schemes for insiders. Often, we cannot know this beforehand and only later discover this. A person should only trade with money that they’re willing to lose because losses are guaranteed. If you choose to participate in purchasing a token in the cryptosphere, you should do so with the full expectation of a loss and you should also expect it to change in a manner that does not benefit you. There are very few good ideas in the cryptosphere. Finally, by reading this post, you agree that you’ve read our disclosure.

Introduction

The following article covers bitcoin, its price and recent events playing out in bitcoin. The cryptosphere is new and exciting, but changes rapidly and often in ways that do not benefit users. By the time this article is published, changes may have already occurred. A person should only trade with money that they’re willing to lose because losses are guaranteed. If you choose to participate in purchasing a security in the cryptosphere, you should do so with the full expectation of a loss and you should also expect it to change in a manner that does not benefit you. There are very few good ideas in the cryptosphere.

Warning

While bitcoin’s recent rise has been related due to a variety of factors that are outside the scope of this post (currently covering it in a six week series on Retire Early With Cryptocurrencies), there still seems to be a strong amount of adherents that this rise is due to China. What this means is that any rumor – true or not – related to China may impact the price of bitcoin (our view: part one and part two). Consider how you to position for this and be forewarned that we saw scenarios of this playing out in 2016, even if the rumors were blatantly false. On a related note, if you’re involved in a cryptocurrency that doesn’t get a lot of attention in China (unlike bitcoin), you may have a strong advantage. We cautioned people about “China! China!” hype last year and out-traded many people who didn’t listen. Still, if enough people jump in and think that only China is the reason for the rise, they may have a temporary effect on the price of bitcoin.

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