JPMorgan Chase CEO Jamie Dimon might still think those buying bitcoin are "stupid," but that didn't stop the cryptocurrency from trading at records above $5,800 last week.
Optimism around bitcoin drove its market capitalization above that of Goldman Sachs on Friday, with some market insiders forecasting that figure to reach at least $1 trillion in the next eight years. (The market cap is currently about $93.55 billion, according to industry outlet Coindesk.)
Still, the virtual currency remains subject to wild price swings, and attempts by government regulators to crackdown on the cryptocurrency have unsettled investors. Just last month, the price of bitcoin fell around 13 percent following news that one of China's largest bitcoin exchanges said it would be stopping operations.
https://www.cnbc.com/2017/10/16/tell-us-what-you-think-where-does-bitcoin-go-from-here.htmlI still think it is all about timing. If you know when to hold and let go or buy and sell your Bitcoins, you will surely profit from it. Like for instance last week, the value is at its peak for quite the longest time. You cannot say a business move is stupid or not. It is all part of gambling on the pretext that the money invested will grow. That is what they call business judgment which is entirely personal and subjective. You cannot debate on that especially when these people use their own money.