Bitcoin Set to Drop to $900
Dot-Com Bubble at it’s Finest
So Bitcoin is just taking an absolute beating lately and it is not looking like that proverbial beating is going to let up anytime soon.
Back in December Bitcoin took a hit of somewhere near $20,000 the numbers could actually be slightly worse but who’s counting, really?
It’s looking a lot like Bitcoin is going to fall down another 90% because it’s environment is completely unstable.
Because of the way the dot-com environment is set up, which is to become rich quick then fall, then stabilize, basically by default the environment is so volatile that it is a lot like being set up to fail.
Basically it’s a do-over of the 90’s when all of the dot-com’s rose to the top then toppled over which is comparable to the game Jenga.
Bitcoin already has over 50 million outstanding coins regardless of the fact that it’s creators intended to limit it at no more than 21 million coins.
And, if you’d like a little fuel added to that fire, rivals can already create clones in a rather unlimited supply.
Adding further fuel to the fire tradable cryptocurrency rose 120% in 2017.
Parabolic:
of relating to, or involving a parable
And parabolic is key to cryptocurrency, parabolically increasing supply just so happens to be the primary limitation to the market price appreciation.
According to Bloomberg’s Intelligence Commodity Strategist Mike McGlone:
“There’s a strong gravitational pull toward $900, the average price since inception and the start of 2017.”
As with the rise and fall of the dot-com era it is truly anyone’s guess as to who will survive the cryptocurrency fall of 2018 and beyond.
Cristal M Clark
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