No mate as I used to know the market makers and would not trust them as far as I could throw them lol. for a so called regulated market there are some real spivvy activities on there so mind your eye
Not quite. More about trading in a currency for which they are not a primary broker (therefore getting their snouts in the trough) .
A man who invested in bitcoin has spoken to Sky News about watching his holdings drop by $440,000 in a matter of weeks following the sudden collapse of the cryptocurrency. Alix, who did not want to give his full name, saw the value of his bitcoin drop from almost $600,000 at Christmas to $160,000 this week. Despite the fall, he says he is confident about his investment, and that he believes bitcoin's peak is still a long way off. "I started in September 2017 with about $41,000 invested and it gradually hit almost $600,000 around Christmas, which was awesome. But now it's $160,000. "I'm not worried about losing all my money. It won't vanish into thin air, it will have its peaks and troughs, there is going to be mass influxes and mass exoduses of money."
He turned 41k into 600k and back down to 160k. No mater how sky try to spin it, at present he's still 119k up. Not to shabby.
Even if he could not really afford to lose any of that 41K, he has got his money back and has 80K free to continue to speculate with.
But there must be some poor mug punter who bought at the $20,000 high in December and is now wondering how to tell the missus.
Depends what you see as a while. I'm confident it'll go above that price, possibly quite significantly before the end of the year. And over the next couple of years it'll make current prices look like pennies.
Though I'd advise looking at other cryptocurrencies rather than putting all your eggs in the bitcoin basket. Bigger returns to be made on some of the others.
I assume someone must have done, as that is it's highest recorded level. The valuation would be meaningless if no one bought at the price.
And the literal comparison with physical mining : it can be cheaper to buy then to mine yourself. If the average physical resource cost to compute a hash is 1K, then unless your hash compute "win" rate is greater than 1 in 21 (and decreasing as mining competition increases) , buying one BTC saves you a lot of aggro.
Paying 20K may well be a faster and cheaper way of getting a bitcoin then the costs of trying to "mine" one yourself (in an increasingly competitive environment) .
