Bitcoin fails at doing its job as an alternative currency, says one strategist. However, another says it volatility offers trading opportunities.
They both have captivated the attention of consumers and investors alike. One runs on electricity, the other is a digital currency. And recently, one was actually used to purchase the other. But there is another striking similarity between Bitcoin and Tesla: the charts
"This [Bitcoin] chart reminds me a little bit of the Tesla chart," says Ross of Bitcoin's recent price charts. "[They are] two situations where you're paying more for potential, more for a concept for the future than the current reality of the situation."
Yet Bitcoin success in its mission to become a digital currency may be mixed. Yet Ross sees evidence of Bitcoin's legitimacy growing, thanks to Tesla. Well, one Tesla, at least.
Last week, a Tesla Model S was purchased for 91.40 Bitcoins at a Lamborghini dealership in California. "Even though we see that volatility concernsRead More »from The shocking similarities between Tesla and Bitcoin’s charts