The rise of Bitcoin and other cryptocurrencies has been one of the most spectacular phenomena of financial markets in recent years. Bitcoin will continue to rise – and rise high – during most of 2018 but Russia and China will together engineer a crash. Bitcoin peaks in 2018 with Bitcoin above $60,000 and a market capitalisation of over $1 trillion as the advent of the Bitcoin futures contract in December 2017 leads to a groundswell of involvement by investors and funds that are more comfortable trading futures than tying up funds on cryptocurrency exchanges. Before long, however, the Bitcoin phenomenon finds the rug torn out from under it as Russia and China move deftly to sideline and even prohibit non-sanctioned cryptocurrencies domestically. Russia officially enters the cryptocurrency mining space to influence protocol developments and shift the focus away from Bitcoin in an effort to keep more Russian capital onshore. China makes a similar move, cracking down on cryptocurrencies by banning the mining of the most popular ones within China, citing energy waste and environmental concerns, but likewise fearing the risk of Bitcoin as a vehicle for capital flight. Instead, China launches an officially backed cryptocurrency that entails less energy-intensive mining. The smoother functioning of the state-run protocols for actual payments and price stability, as well as the the heavy hand of state intervention, drives a decreasing interest in all cryptocurrencies and completely sidelines the Bitcoin and crypto phenomenon from a price speculation angle even as the technological promise of the blockchain gallops on. After its spectacular peak in 2018, Bitcoin crashes and limps into 2019 close to its fundamental “production cost” of $1,000. https://iman.infusionsoft.com/app/linkClick/135909/0eb126bd15e3f31b/329677523/fba829e13aced088
Same as the guy that predicts the end of the world Evey 4 years. Lol. Then goes into hiding after looking like a fool.
