I agree. When you look at the Fed's newest report (over on Zerohedge) that 25% of Americans cant pay their bills, and 50% couldn't afford a $400 emergency, then who is buying Bitcoin and other cryptocurrencies right now? Asians who are Momo investors, and then of course as my article cites, Institutional Investors who realize there are few paper assets (bonds, stocks, real estate) to buy now since they are all overvalued.
This means that the buying is extremely speculative and far beyond normal market conditions, and placing nearly all cryptocurrencies on the edge of overvalued, or bubbles.
I can't give advice, but there are NO sure things in this world... and if someone has the chance to take a profit, then I would thoroughly do so and move into extremely undervalued assets like Silver.
Why? No one absolutely knows if Bitcoin or other cryptos will be in for the long run. I DO believe cryptocurrencies will be the wave of the future, but they will mostly be controlled at a sovereign level, and perhaps Bitcoin or the next version of cryptocurrencies will function as a domestic medium of exchange.
RE: Bitcoin soars to over $2300 in some Asian markets as it is becoming the asset of the elite