Corollary:
Judging from the way its trajectory has shot up, we can say that a recession is imminent… 
Even if there is a recession, how BITCOIN kingdom gets affected? This is mainly driven by black money hoarders, not controlled by any government.
When federal agents (FBI) were asked to probe & find the details, they themselves stolen some bitcoins !
When recession kicks off, people may likely Sell stocks, move cash to bitcoin instead of bond? These are not poor people or jobless people, but wealthy money hoarders, black money dealers.along with genuine public…etc
I really do not understand how this is driven up or down.
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No. In a recession, the asset(s) that went up the most gets hit the hardest.
2000: tech stocks
2008: home prices and financial stocks
20??: bitcoin???
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2000: Tech stocks were blown as companies went bankrupt.
2008: Home stocks/Financial Stocks went down as both were bankrupt.
Bitcoin: Which/What bankruptcy will make bitcoin to go down? There is no factory or manufacturing involved, not even physical coin involved.
Ok so maybe we’re not there yet. When the total valuation of all bitcoins grows to be as big as the entire US stock market, that will eventually become unsustainable, and its collapse will affect the entire economy because many people will have lured into buying it at super high prices (and financing those purchases with DEBT)… the resulting crash will leave many of them unable to pay the debt and BANKRUPT… 
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Perfect Answer ! Kudos to you !! This is exactly like junk bond !!!
Compared to start of the thread $2500, it is 3x today. Even today’s rate $7250+ is way higher than 2010. This is craziest steep curve.
What level is considered right “unsustainable”, that is the true question?
This will happen one day, soon, near future.
You are the first to get the credit on this thesis, may be “2018 or 2019 BITCOIN CRASH” !
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I’m ready for the crash… how would it damage the economy? Do you know of any big wigs investing in bitcoin? Someone like Larry Page, Mark Zuckerberg, Jeff Bezos or Elon Musk? If so, I’m very worried.
Big wigs always escape out any economical crash ! Only the novice, like us get into traps. Like wuqijun explained lot of novice investors may grab loans and invest in bitcoin. When bitcoin crashes, they lose entire stake, resulting individual bankruptcies…which may have domino effect across the world wherever people invested.
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Bitcoin should be banned
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You guys go ahead and invest in Bitcoin.
I’ll put my money on Amazon.
I suspect many techies in the Valley bought bitcoins and ethers. Maybe some even took out HELOC to buy bitcoins? Not sure and there’s no data out there.
Did you ask your husband whether he bought bitcoins? I suspect many men bought bitcoins behind their wives’ back…
No clue. If he did, it would’ve been years ago. But investing isn’t his thing. “Fun toys” [I should say “tech toys”] are his thing. He’d have bought back when it was a fun thing to have if he did it.
Back in September, China banned Initial Coin Offerings (ICOs) and shut Bitcoin exchanges, sending the digital currency’s price tumbling from $5000 to close to $3000
But now regained to $7000.
How will they shut bitcoin? This was created against all world currency, an artificial medium of transfer.
IRS allows bitcoin appreciation to be included in tax filing. This makes it legal
Think of Amazon or ebay or google accepts bitcoin as a currency to buy/sell goods.
He says no.
This doesn’t sound like a trusting relationship… 
Trust but verify.
So when are we going to all stop using the dollar and start using bitcoins? 
It is already in force