SG Talk

Some one posted this in business part of the forum.
I shifted it here because it is really worth watching.

Don't agree with other things Peter Sciff says but this time he is spot on.

To me.Bitcoin can go to any level depending on what demand exists fro that price.

People buy it hoping to get rich when it goes up.
When it stops going up and come down, it will generate selling pressure from those in it to make a quick buck.

There is no real use for Bitcoin. Its price is driven by demand and supply. Much of the demand is gambling and speculation by people thinking it will go up.

Previously bitcoin collapsed from 20k to 4k.

Now it is a repeat. From 61k down to??