Bitcoin DELUSION Is Self-Reinforcing (Video)

Podcast Transcript: “As Bitcoin has blasted through $7,000 per coin skyrocketing several hundred percent this year alone, I’m reminded of an interesting fact about bubbles. That people who participate in bubbles always take the rising price of the bubble asset as proof to them that they’re not in a bubble. In other words, the people who are invested in Bitcoin right now – by the way you can’t even really use the term investment, which I’ll explain later – but the people who are quote “invested in Bitcoin” have convinced themselves that because the price keeps going up, it’s not a bubble – which is fascinating and a bit disturbing. Because of course, the very definition of a bubble is that the price keeps going up irrationally without underlying fundamentals supporting the value. And this is exactly what’s happening with Bitcoin. This is exactly as I called it. I said Bitcoin could go up to 10,000 or even $100,000 per coin… long term – it’s headed for 0. Bitcoin has no long-term future although cryptocurrency does in my opinion, but Bitcoin is going to crater. However, before it craters it could go very high. It could go to $50,000. It could go to $100,000. Or it could just crater before it hits 10,000. It’s hard to say. This is the thing, I’ve talked about the psychology of bubbles before and how it’s dangerous to try to play the bubbles either on the upside or the downside, because you can never second-guess human psychology. It’s irrational and this is what we are seeing with Bitcoin. Now, here’s something really crucial to understand about Bitcoin…” Listen to the full podcast below:

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Bitcoin DELUSION is self-reinforcing from NaturalNews on Vimeo.