Gosling's Grouse: The psychology of investors

Boom in Bitcoin

clock • 3 min read

One of my millennial colleagues triumphantly told me the other day that his Bitcoins were now worth £9,000 and at that rate he would have paid off his student debt by the end of 2018.

It did not take a full fact-find to burst his bubble. Indeed, the following day, the South Korean government said it would look to ban the trading exchanges for cryptocurrencies and the price for Bitcoin fell back to about $13,000, having peaked at around $20,000 just before Christmas. My colleague is undeterred because he is invested in one of the other major currencies - he would not tell me which one. The folly of youth.  Digital money expected to expand its reach in 2018 I was thrown when I related this tale to someone even older than myself who said he was invested because of ...

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