Originally Posted by Arkie
That's usually how short term trading works.
The most you can lose is 100% of your investment. Those who bought bitcoin at the beginning of the year are up 1000%. That's still short term.
Long term, I see bitcoin going to either 0 or 10,000+. That's still a great risk/reward payoff. The last time bitcoin crashed it went from $31 down to $3. This time it has to fall from $260 to $26 to see the same drop. Next time it could fall from $2000 to $200, but I doubt it will have the same volatility in a few years.
But it's not remotely how a currency works.
It will remain volatile as long as it is traded as a commodity. It has to be indexed to something....gold?......or it will be just another worthless dot com play; volatile with unsustainable valuations and no substance to fall back on.