Bitcoin Crash Review

I have mentioned it many times in the past that Bitcoin would eventually crash well below that $4000 price level. $3846 and counting as the Bitcoin crash is far from finished.  A report suggested that 600,000 miners have shut down already and I’m sure there are far more closures to come. Bitcoin investors are running on hope as below $1000 is the most likely price target that will still get hit! This is in Log form so that we can see the previous big low more clearly.

When Bitcoin no longer keeps going up, then Bitcoin eventually will look like any Tulip Mania price chart. It would not surprise me if Bitcoin crashed between $200-$400. All interest in Bitcoins will have died as the experiment of creating money from nothing fails again.

There is no reason why Bitcoin prices should take off when the tech sectors around the world are getting hit hard!  Folks, some of the worst or crazy bullish price forecasts have been made in the Bitcoin world and none of them will come true. Wild forecasts in any asset class hardly ever come true, as the $2000 gold price forecast is over 40 years old! Now the wild gold price number has switched to $5000- $10,000.

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