Danielle Park notes that Bitcoin is going parabolic, but asks: Can it end well? The future of crypto-currencies is no doubt bright, but what is the underpinning of this run up in value? What makes it worth $2700? Ludicrous policies lead to ludicrous valuations and that’s the result of easy money policies engaged in by the world’s central banks. What’s lost in the shuffle is that no one is looking at the real risks inherent in the markets and the products they’re selling. When the current investors want to sell who will be there to buy?Demographically those who hold the assets will want to sell to fund living expenses. The people who got creamed last time will come in at the top again. In other words, rinse repeat.
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