Bitcoin, Altcoins, Cryptos: If you're long, consider taking profits. A massive correction is likely coming. "The Big Short Moment Approaches"
Via Seeking Alpha
There is a much-discussed in the crypto-sphere chart making rounds these days, plotting Bitcoin price dynamics against the historical bubbles of the past:
The chart is striking. Albeit simplistic.
On price dynamics alone, Bitcoin looks like a sure bubble - a disaster waiting to happen. But Bitcoin dynamics are basically not suited for any empirical analysis of any significant accuracy.
There are plenty of signs that we're reaching euphoric levels of Bitcoin optimism. Let me mention a couple I saw this past week. First, an articlegiving advice on how to find a Bitcoin-friendly neighborhood to live in for those who feel like crypto-outcasts:
This brings back memories of my dad (a computer programmer) explaining to people why they shouldn't quit their jobs to day trade dot.coms in 1999. The same tone is here now, all the smart people know this new asset is the future and only the mailman is stupid enough to have not figured it out yet.
More: seekingalpha.com