Update follow up Marc nails the BITCOIN CORRECTION Jan 12 2021

A bubble or best thing going?

(I WROTE THIS UPDATE on SUNDAY   JAN 10- See date on the update)

Here is Monday's January 11th, 2021 news on CNN :

New York (CNN Business)"Bitcoin prices surged to a new all-time high of nearly $42,000 on Friday, only to plunge all the way back to about $31,000 Monday morning. That's a more than 20% drop -- which means bitcoin is now in a bear market, as bizarre as it sounds".

Did I call it or what?

https://www.marketwatch.com/discover?url=https%3A%2F%2Fwww.marketwatch.c...

BITCOIN BUBBLE ?  Read this great article..... 

What Is a Bubble?

A bubble is an economic cycle that is characterized by the rapid escalation of market value, particularly in the price of assets. This fast inflation is followed by a quick decrease in value, or a contraction, that is sometimes referred to as a "crash" or a "bubble burst."

Typically, a bubble is created by a surge in asset prices that is driven by exuberant market behavior. During a bubble, assets typically trade at a price, or within a price range, that greatly exceeds the asset's intrinsic value (the price does not align with the fundamentals of the asset).

Be careful kids......

Marc

January 10, 2021

(530)559 1214

Investments

Commentary

Insurance     Fire specialists

Medicare