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This Chart Suggests Bitcoin Could Crash 70% Or More

Here's a chart that shows you the history of Bitcoin crashes...

Here's a chart that shows you the history of Bitcoin crashes...
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2 comments on “This Chart Suggests Bitcoin Could Crash 70% Or More

  1. “He also said wallets, or unique IP addresses, will likely rise 50% by mid-2018.” He just doesn’t understand the basic economics limiting cryptocurrency adoption – and or that the current mania is actually limiting its adoption. Cryptocurrency using current blockchain technology will always be far more expensive (non-competitive) than current commercial transaction methodologies. Just as 3D printing has not been disruptive as so hugely forecast a few years ago – because of a lack of basic economics for mass production – cryptocurrency has similar economic issues. In the economically self-limiting vein, it is also important to understand that apparently half or more of current BitCoin transactions are being accomplished off-chain (no blockchain security benefits – so why adopt a more expensive and less secure platform?). This is mostly caused by the rabid speculation driving current BitCoin prices but not its actual usage as a “currency.” This rampant speculative buying and selling (essentially illegal public buying and selling of an unregistered security) are actually limiting commercial transaction scale adoption of BitCoin and others. Again, only a fraction of a percent of cryptocurrency transactions are for commercial products. Consequently, there is no reason or leverage to create massive commercial adoption and it is only the raw speculation that his driven cryptocurrency pricing so far.

    Until you start seeing cryptocurrencies representing a significant percentage of commercial transactions (cash, credit cards, PayPal and others – there is no reason to believe that wide spread commercial adoption is actually occurring and or that cryptocurrency have a future as a commercial exchange medium – let alone a digital currency – until you do see this.

  2. bigbritheacguy0001

    I agree with what you are saying but I also think that some of the other, (shall we say, above board) coins, have the potential to displace and surpass BTC and eventually fulfill the original concept that BTC was designed for. (You know, other than as a method for the drug cartels to launder monies). BTC has not yet, and may not ever at the rate it is going, accomplish this.

    Unless the miners of BTC change their way of thinking they are going to be left behind.

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