Bitcoin has FAILED. Next up is $0. Bears and bulls will lose all
HALF A DECADE since bitcoin first touched $20k.
When we adjust 2017 $20k for inflation, that would be around $23k now according to "official" figures. However, prices of everything have gone up by far more. Properties prices have doubled in some places.
Adjusted for TRUE inflation, 2017 $20k is around $30-40k today – which bitcoin is BARELY hovering above.
Bitcoin has failed. It is not a store of value. At best, it just keeps pace with inflation. But at the cost of extreme stress, uncertainty, volatility, and NO GUARANTEES.
There are other investment vehicles that offer stability and more or less guaranteed returns. You would have been FAR BETTER OFF if you invested in real estate half a decade ago.
Bitcoin's 2020-2021 bull run was fueled by the FED. It was the result of a black swan event. In other words; nothing bitcoin could/can achieve on its own.
I fully expect bitcoin to drop to $30k and lower in the coming weeks. $30k will not hold for the moment it touches it, we will just be weeks away from the FED's first rate hakes and tapering.
There will be a flight from risk assets such as bitcoin and other cryptocurrencies.
Bitcoin will collapse overnight. It may even drop to $0 to wipe out every single long–and those who short it on the many minor dead cat bounces along the way.
Everyone who touches bitcoin or any other cryptocurrency will get burnt hard. They will lose everything they own thinking they got a deal on a ponzi scheme.
El Salvador is a non-event. It is literally a banana republic run by a dictator. Bitcoin was adopted to hide their money laundering schemes.
Saylor is the only one Bitcoin has. And he has made many bad investment decision in the past. Bitcoin will be his worst.
When we adjust 2017 $20k for inflation, that would be around $23k now according to "official" figures. However, prices of everything have gone up by far more. Properties prices have doubled in some places.
Adjusted for TRUE inflation, 2017 $20k is around $30-40k today – which bitcoin is BARELY hovering above.
Bitcoin has failed. It is not a store of value. At best, it just keeps pace with inflation. But at the cost of extreme stress, uncertainty, volatility, and NO GUARANTEES.
There are other investment vehicles that offer stability and more or less guaranteed returns. You would have been FAR BETTER OFF if you invested in real estate half a decade ago.
Bitcoin's 2020-2021 bull run was fueled by the FED. It was the result of a black swan event. In other words; nothing bitcoin could/can achieve on its own.
I fully expect bitcoin to drop to $30k and lower in the coming weeks. $30k will not hold for the moment it touches it, we will just be weeks away from the FED's first rate hakes and tapering.
There will be a flight from risk assets such as bitcoin and other cryptocurrencies.
Bitcoin will collapse overnight. It may even drop to $0 to wipe out every single long–and those who short it on the many minor dead cat bounces along the way.
Everyone who touches bitcoin or any other cryptocurrency will get burnt hard. They will lose everything they own thinking they got a deal on a ponzi scheme.
El Salvador is a non-event. It is literally a banana republic run by a dictator. Bitcoin was adopted to hide their money laundering schemes.
Saylor is the only one Bitcoin has. And he has made many bad investment decision in the past. Bitcoin will be his worst.