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Bitcoin Tops $11,000 – Bundesbank Sees No Bubble, Stiglitz Says “Should Be Outlawed”

Courtesy of ZeroHedge. View original post here.

Well that re-escalated quickly…

It's been quite a year….

  • $0000 – $1000: 1789 days
  • $1000- $2000: 1271 days
  • $2000- $3000: 23 days
  • $3000- $4000: 62 days
  • $4000- $5000: 61 days
  • $5000- $6000: 8 days
  • $6000- $7000: 13 days
  • $7000- $8000: 14 days
  • $8000- $9000: 9 days
  • $9000-$10000: 2 days
  • $10000-$11000: 1 day

Big dip overnight was bought and as US equity markets prepare to open, Bitcoin just topped $11,000…

Bundesbank’s Buch Says Difficult to Tell If Bitcoin Is a Bubble

“The question we have to ask ourselves is to what extent there is an overvaluation in a certain market segment, and I tend to shy away from calling something a bubble formation because that’s difficult to assess,” Bundesbank Vice President Claudia Buch says at press conference in Frankfurt.

“The question that occupies us is whether these trends are strongly financed through credit and money is used to speculate, and as it’s not a very large market segment there is little information at the moment

Doesn’t currently see bitcoin as a financial stability risk for Germany

While some see broader acceptance of the cryptocurrency

BITCOIN to pay freight? A shipowner wrote to me today to say that they accept Bitcoin/ Ethereum saying that using Crypto currencies is actually very easy & safe & quick as each payment takes a few minutes, as opposed to hours or days with the usual bank transfer. Brave new world.

— Swithun Still (@RussianGrainTra) November 29, 2017

Joseph Stiglitz, Nobel Laureate and Columbia University Professor, says the digital currency "ought to be outlawed."


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