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People not accepting the hard facts about Cryptocurrencies

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I talk to lots of people who swear by Gold in times of crisis. When I explain to them that the worlds richest financial organisations and wealthiest individuals no longer want to invest in something like Gold or another asset which governments across the world can control and manipulate then they just do not accept this. When I explain that  if you look at the last 100 years of price action for Gold and how it behaved and shot up in times of crisis then Bitcoin is behaving in a very similar way. People back then called Gold a bubble too and there was speculation back then also. I ask them to research the hard historical facts of the past few months and ask them to look at the price action of Gold against Cryptocurrencies when the media released all the Trump and North Korea rhetoric stories, the missile that North Korea launched over Japan and see which performed better.

 

The result is there for all to see that Cryptocurrencies 'trounced' Gold! Why? If you conduct some research into why this played out the way it did then you will find the explanations behind this.

 

People get emotional. They possess investor bias and therefore you cannot reason with them even though the facts are staring at them. There is no doubt in my mind that there is a **** of a lot of speculation in Cryptocurrencies and it is highly likely that it is a bubble but until something happens which causes the bubble to burst then that bubble just floats higher and higher. As long as people have stop losses set to minimise their losses then I think there is further gains to be made. Joe Bloggs down the street still does not know about it and Uncle Harry has not tried to buy a Bitcoin or trade Ether yet. When that happens the smart money will be selling and Joe Bloggs and Uncle Harry will be left with very large losses. 

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