As my readers know, last year I made a very bold call for a collapse of Bitcoin pricing to $250 (see article here). Of course I missed that exact target…
However it took just 90 days of calling for a 75% collapse of this “crypto-currency” it’s finally come to pass.
In fact, the price has fallen even further than $250!
The chart I pulled from zerohedge shows the carnage-
I found this quote on coindesk.com-
“Effective immediately, Mark Karpeles has submitted his resignation from the board of directors. We are grateful for his early and valuable contributions as a founding member in launching the Bitcoin Foundation.”
Last week I called for a possible end of Bitcoin- meaning they’ll eventually be worth the fractional pennies they once were. I think I threw around the term “the biggest financial failure of the decade”- or something similar…
And with no-one being able to withdraw cash in exchange for Bitcoins on Mt. Gox- I’d suspect massive lawsuits, and potentially even more criminal charges, making a $0 bitcoin value far more real than not.
I must say I rarely take this much pride in a call like this- there’s no way I want novice investors getting caught in a scam like Bitcoin (which is what it is now).
At least with most pump and dump penny stocks we cover, you can get your money out, even if it’s just 10% of what you put in!
How bad can it get? I’d say ZERO $0 is my new target!
Keeping you one step ahead,