Bitcoin's road to $0...just as predicted by Dan Pena and Peter Schiff...those two wise men that you bitcoin permabulls love to harass.
I anticipate that Bitcoin marketcap should reach zero around Q2, Q3 of 2023, or Q4 of 2023 the latest. So if you want to get some free satoshis as Monopoly money go right ahead, it won't be too long from now.
I anticipate that Bitcoin marketcap should reach zero around Q2, Q3 of 2023, or Q4 of 2023 the latest. So if you want to get some free satoshis as Monopoly money go right ahead, it won't be too long from now.
Note
As usual, the permabull trolls are teaming up to give my analysis a lot of hate, while completely disregarding the market sentiment and the geopolitical situations at play:1) 40 year high (soon to be record high) inflation. All risk-on assets will see a 90-99% crash in the next 6-18 months. This crash will make the 1929 crash look like nothing and we probably won't recover until 40 years later. The bubble of all bubble is literally within armsreach, yet most of you are still bearish.
2) Federal Reserve to begin insane quantative easing and interest rate hike (may be 50 points now but could easily and extremely likely to be increased to 75 points, 100 points, even 200 points are not out of the question.) See my DXY US Dollar prediction, where I anticipate the 40 year resistant to be broken up without hesitation.
3) Russia bypassing financial sanctions using crypto, hence reinforcing the fact that adversaries and bad guys can use it to escape punishment, or even manipulate econony with Bitcoin. It is extremely likely that somewhere down the line you will see allied government move swiftly to ban Bitcoin, just like gold in 1933, making it downright illegal to trade or possess...so you might as well as sell it now for some good fiat vs. getting it confiscated years later and risking prison.
4) Uses too much energy and is environmentally unsustainable. The power required to upkeep bitcoin is more than that consumed of Israel and also accelerate the rate of CO2 emission and production of e-waste.
5) Most merchants still don't accept Bitcoin or any crypto as a source of payment. Also transactions are slow and transaction fees are expensive.
What more current affairs do you want? I can write an encyclopedia on why Bitcoin and all cryptos are useless and should be left to rot away. It is the world's largest Ponzi scheme and the only winner is Satoshi Nakamoto, or whoever the intenventer is, scamming billions of people.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.