Dangerous Bitcoin Headlines Are Back

Bitcoin makes big headlines (again) after the price makes big gains

They are appearing with regularity again. You of course remember the last tout, when this clown fleeced the herds right into the top in late 2017…

Well now that the US dollar has tanked and gold has (until this morning at least) also been tanking, the tout has been that ‘cash is trash’… and that ‘gold has lost its anti-dollar status to Bitcoin’. I have seen that second thing written several times in the last couple of weeks.

Realization ‘cash is trash’ could soon see bitcoin price hitting $500,000, says Tyler Winklevoss

So who do you turn to when you want to write a good pump headline to harvest the eyeballs of the moment? You turn to two handsome men in snazzy suits who just happen to operate a Bitcoin exchange. Seriously, check out the photo in the article. Now that’s star power!

Why, even the ever rational Reformed Broker, Josh Brown is listing 5 reasons about ‘why Bitcoin is going up’ and highlighting the Grayscale Bitcoin Trust (GBTC, which was my vehicle before selling out last week) as a handy way to play it.

But, this…

bitcoin

The noise became the loudest since BTC/USD sheared through my long-standing target of 17000. I know this because that is when I started really paying attention due to said target acquisition.

Bitcoin will probably be a real asset in some form or another but I can tell you that when I bought GBTC on the sharp pullback to support (and pattern top) in September the sound I heard was…

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