Aubog007 wrote on 2015-01-15 05:12
Cryptocurrencies being traded like stocks is mind boggling. Like buying rubles and waiting for the price to rise.
Yoorah wrote on 2015-01-15 06:21
Buying Rubles would be a better investment, lol.
Odin wrote on 2015-01-15 22:43
Only if you were buying in 2014.
People who bought in mid 2013 made a fortune when the price went up that high, and had plenty of time to sell again for an immense profit before it went back down.
But that is how market manipulation works. People who are ahead of the curve make out like bandits, while people who buy in after hearing about phenomenal gains in price and then hold out expecting it to go higher get stuck with the bill.
And every market is full of this, but the smaller the market is the more visible the effects are. Like so you get obscure penny stocks and altcoins nobody has heard of with charts having incredible spikes with just as quick dropoffs, while the popular symbols and coins to trade take a lot longer to move large amounts because the entire economy around them has to shift to the new trend.