170914 Not For the Faint-Hearted

jamie dimon

Not for people who like safe and familiar things, investing in Bitcoin can be a nerve-racking, scary experience.  As of this writing, Bitcoin in $3387.86, down $1226.17 from twenty-four hours ago.  It’s no fun watching 25% of your investment vanish in less time than it takes for a check to clear.

But if you’re a believer, this is a time to buy.  Bitcoin has only ever fallen this far, this fast, a couple of times in its nine-year history.  News of the Chinese government cracking down on new cryptocurrency IPO’s and threatening to stop the trade in bitcoin all together, coupled with Jamie Dimon’s, CEO of JP Morgan Chase, a pronouncement on CNBC that bitcoin is a fraud, there’s no wonder that bitcoin will react violently.  This is a good test of its vitality.  Any investments made here are going to be fruitful.  With blinders on, you just have to dive in.