$1 Trillion Gone in Weeks in Bitcoin Crash as Self-Fulfilling Prophecy Takes Centrestage

International Business Times ^ | 19 Nov 25 | Niloy Chakrabarti

[delta7]

The dreaded "liquidation cascade"? Economic cycles are the only certainty, and attempting to call the top ( or bottom) has always been a fool's game.

[ConservativeMind]

It’s your standard tulip bulb market.

The housing market has a similar tulip bulb situation.

[Red Badger]

It’s just 1’s and 0’s in somebody’s computer...............

[Sicon]

Bitcoin doing what Bitcoin does.

[Red Badger]

“liquidation cascade” = NewSpeak for “Run on the Bank”............

[proxy_user]

A lot of bitcoin was bought with borrowed money - no regulation, so you can put 10% down.

Where have we seen this before?

[equaviator]

Right now, Bitcoin looks like it would taste more like "Bitcorn".

[rod5591]

Bitcoin is a scam. Bitcoin is not backed by anything except greed and foolishness.

[Soul of the South]

We are about 5 years away from the Federal Reserve rolling out digital currency. All of the money in bank accounts will be converted to government issued digital dollars. All transactions will be electronic. The government through the Federal Reserve will be able to freeze your accounts on a moment’s notice. Cash will become obsolete.

A future Democrat administration will be able to prevent citizens from giving money to unapproved charities or use money to buy firearms. Social credit scores will ultimately follow as well as wealth confiscation.

[P-Marlowe]

It is not a tangible asset. It has no intrinsic value.

[blackdog]

AI and Bitcoin, both are not real.

[butlerweave]

Why do you think China needs all those coal fired power plants , they churn out Bitcoins and sell them to the fools ,LOL

[one guy in new jersey]

No cash allowed?

If that’s the goal in five years, ending the minting of the penny will in retrospect look like a camel’s nose under the tent (Overton Window shifting).

[BipolarBob]

I’m ruined!! At least I have my Cabbage Patch collection and Hot Wheels for my retirement.

[CandyFloss]

Self-fulfilling prophecy? Sounds familiar—Armstrong's been calling Bitcoin's "end" since 2019, forecasting total collapse... then it 10x'd anyway.

See his dud here (public service):

The End of Bitcoin Currency, Another Failed Forecast

[milagro]

Actually,more like BitCON!

[Texas Eagle]

Gone ? Where did it come from in the first place?

[volare737]

Yep, that’s why it bothers me that Trump is so very pro-crypto. He is accelerating the inevitable,,,,,a cashless society where the government has a trail of every single transaction you ever make!

[bertmerc1]

I’ve never understood Bitcoin so will never invest in it. It’s been explained to me that it is based on an algorithm and is harvested? No thank you.

[goodnesswins]

Well...from what I am told someone “mines” it...however the heck THAT creates coin I still have a hard time understanding...something about solving algorythyms???