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Bitcoin Collapse Now Under Way, Has Already Plunged Nearly 40% from its High: Health Ranger Warns +Video
By: Mike Adams / Natural News
In case you having been paying attention to the world of crypto currency, Bitcoin has now collapsed almost 40% from its high, plunging from $3,000 to nearly $1,800 in anticipation of the “Bitcoin civil war” that’s rapidly approaching.
From July 21st through the end of the year, a timeline of serious obstacles threatens to crater the speculative Bitcoin marketplace. One of those events has been called a “Bitcoin civil war” and could threaten the very existence of the crypto currency. That’s why people are taking profits right now, selling their Bitcoin holdings and driving the price downward. (See BitRAPED.com for more coverage.)
Remember: Bitcoin isn’t backed by gold. It isn’t backed by anything at all. There’s nothing technically superior to Bitcoin compared to other crypto currencies such as Ethereum or Z-cash. As a result, nearly all the growth in Bitcoin over the last few months was based on speculative greed, where people hope to cash in on the bubble of crypto currencies even though they don’t understand the real risk.
The Bitcoin promoters telling you that you can’t trust the dollar because it’s fiat currency usually fail to inform you that Bitcoin is crypto fiat currency, backed by nothing. In fact, one of the “fixes” being discussed by the Bitcoin community right now would result in lifting the limit of 21 million Bitcoins, allowing potentially unlimited future Bitcoins to flood the marketplace, thereby devaluing presently-held Bitcoins. Quantitative easing, it seems, isn’t just for central banks…
I’ve explained all this in more detail in my studio video, below, recorded on June 7th, 2017, long before the Bitcoin market began to really crumble. For the record, I support the idea of decentralized crypto currency and rendering corrupt central banks obsolete. However, Bitcoin is so far lost into the depths of greed and hucksterism that I can’t stay silent on this issue. I especially don’t want the millions of readers and fans who follow my work to be harmed by the Bitcoin collapse, which is why I began publicly warning people about all this a couple of months ago:
Find more news coverage of the Bitcoin crash at BitcoinCrash.news.
http://www.naturalnews.com/2017-07-16-health-ranger-warns-bitcoin-collapse-under-way.html
More great articles here: http://naturalnews.com
In a collapse, food and water is what you need. You cant eat gold. Plus if you have to be on the move, you’ll have to lug it around with you. With cryptocurrency you are your own bank. As long as there is electricity and internet they will continue to have value. If electricity went out, you would be dead within a couple of weeks anyway.
Right – hungry people will trade for imaginary computer bytes. On the other hand, even in a collapse there will always be the haves and have not’s. And those with stockpiles of food will still want to trade for precious metals and jewels.
Bitcoin now BITECOIN!
Bitcoin(BTC) is backed by its use as a medium of exchange(Not gold and nothing is backed by Gold since the majority of it in vaults is Gold leaf covered tungsten), its value was inflated on exchanges who allowed long and shorting of Bitcoin. Currently Bitcoin has been loaned to shorters at interest and the interest is not even remotely covering the loss of value of that coin because of shorting (25%-29% per year) therefore after this year the big losers will be those who loaned their coin, hopefully fees will eat into the traders as well, bitcoin had to be sold short when the alt coin market was flash crashed even though its value would rise because all sales are done in BTC., this is a true sign of total market manipulation done by the 2 top exchanges Polonex and BTC38, when the altcoins are sold they are traded in BTC, BTC is sold to buy alt coins, BTC’s price can only rise if there is a demand for it and if you pump and dump billions of $ in altcoin in a day they are bought and sold in another coin(which should climb in value in line with the value of trades), since they are all in the red this means that trades are also being done at a loss to collapse the market. Nothing is being withdrawn from those wallets.
Sorry, I just couldn’t listen to Mike’s BS. First off BTC does not fit the definition of a Ponzi scheme . More important is that Mike like his good friend Alex Jones are the C I A backed controlled opposition I guarantee this will be proven. Who else in the truth movement travels with a team of body guards. This man has been sent out to slam BTC because thé Rothchilds banking cartel is scared to death of it. BTC has already recovered 25% and is now only down 9.16% over last year and it will surpass it’s last high. Poor Mike is just following his marching orders. I guarantee BTC will surpass it’s all time high by the end of July. I’m sure the country that has adopted it as it’s currency did so blindly and they know less than Mike. That’s why it’s being talked about being used to settle international trade. Where is the proof MIKE?
Mike you are a stooge for the C I A, N W O and the Rothchilds cartel you see Mike is smarter than all the economists that say when all 20 million coins are mined the price will stabilize and easily be worth $50,000 each. Mike you should be ashamed of yourself. It’s the second time I caught you peddling the C I A/NWO line.