Bitcoin Takes A Beating Again.

The majority of all Cryptos took another big hit this morning and Bitcoin was no exception. In order for Bitcoin to be in a massive bull market the price eventually has to exceed over $20,000 again.   So far, nothing has indicated that Bitcoin is ready to soar one more time. Yeah, right!  All Cryptocurrencies started from zero, so they can always end up at zero again.  At one time the total capitalization charged up to $736 billion, which has never been breached since. This morning the total capitalization of Cryptos was at $501 billion US dollars.

They took a brief rest during the holidays, but have resumed creating ICOs  at about the same pace. 1465 Cryptocurrenceies are out at this time, with a Gold/Bicoin ratio of 7.86:1. This is close to a rock bottom ratio already, but I must warn readers that the Gold/Bitcoin ratio may not mean anything in the long run. 3:1 is closer to rock bottom, but even than the Gold/Bitcoin ratio may not mean anything.

I see this all more like a Wild, Wild West show as we have Bitcoin bank robberies, Bitcoin Miner wallet robberies and massive denial of service attacks.

I’m sure that the Crypto coders also have accidental errors in the code to where each Crypto currency can be hacked. The massive Meltdown and Specter chip vulnerability issue just adds to the problems.

Mt. Gox Bitcoin Missing In relation to Mysterious Death of Exchange CEO – Crypto-Faucets.in

They are still hunting the Bitcoins from the “Great Mt Gox Robbery” where I had my Bitcoins at. Their exchange got hacked and Bitcoins disappeared into thin air.

The investors that think that they are investing in Bitcoins must be smoking something, as I would not invest in anything that has so much fraud associated with it.

 

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