The bitcoin bump has turned into a beating – VICE News

The Bitcoin bump has turned into a beating

  • Bitcoin and ether — both tech-based alternative currencies — essentially crashed over the weekend before rebounding sharply on Monday, racking up the kind of gains in one day that normally take six months or a year in the stock market.
  • After a brief moratorium on withdrawals, three of the China’s popular bitcoin exchanges in early June, just before the crypto markets’ peak.
  • The global bitcoin market is also facing uncertainty over at the end of the month that would affect the transaction ledger, or blockchain, attached to each coin.
  • Both, however, are trading well below their June highs; ether is down almost 30 percent, and bitcoin, almost 60 percent.
  • Despite the recent downward trend, the price of bitcoin has still nearly tripled over the last 12 months, while ether is up more than 10 times its price a year ago.

Two of the most popular cryptocurrencies have a bit of a hangover after a wild weekend they’re only now starting to recover from.
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Why Warren Buffett’s wrong on bitcoin: Legg Mason’s Bill Miller — CNBC

  • Legg Mason’s Bill Miller may have lost 20 percent of his investment in bitcoin, but he’s still bullish on its potential.
  • Miller, chairman and chief investment officer at Legg Mason Capital Management, said bitcoin makes sense when investors look at its risks versus rewards.
  • Miller commented on billionaire Warren Buffett’s description of bitcoin as a “mirage” last month on “Squawk Box.”
  • Miller said Buffett was right about bitcoin’s potential as a means of money transfers or payments.
  • Comparing bitcoin to checks or money orders doesn’t take into account the hard limit of 21 million bitcoins that its inventors have placed on its global supply, Miller added.

Legg Mason’s Bill Miller may have lost 20 percent of his investment in bitcoin, but he’s still bullish on its potential.
Continue reading “Why Warren Buffett’s wrong on bitcoin: Legg Mason’s Bill Miller — CNBC”

Cramer Remix: Perils of investing in commodities like gold & oil

Cramer Remix: Perils of investing in commodities like gold & oil #forex #trading #bitcoin

  • Unlike a hedge fund manager, individual investors can take their time waiting for a story to play itself out.
  • Cramer Remix: Perils of investing in commodities like gold & oil 9 Hours Ago|01:07
  • Oil stocks all traded together, and almost every company wasn’t able to cut spending fast enough to beat the declining price of crude.
  • The company you like might fail, too,” Cramer said.
  • One of the benefits of being an individual investor is that they don’t have clients breathing down their neck who get angry when money isn’t made every quarter.

Read the full article, click here.


@btcusdbitcoin: “Cramer Remix: Perils of investing in commodities like gold & oil #forex #trading #bitcoin”


Jim Cramer offered words of wisdom for any investor considering a buy in the world of commodities.


Cramer Remix: Perils of investing in commodities like gold & oil