The Financial Time's Izabella Kaminska nailed it a couple weeks ago in a post we titled:
Dude, Bitcoin Is So Over
From Economic Policy Journal:
Bitcoin is now trading under $300.00. The low today so far is $282.47.
(The high today was $360,54). This downside volatility suggests very
aggressive selling.
As I have posted some time ago, I expect a major new round of U.S.
government arrests of people involved with Bitcoin. The arrests may, or
may not, be justified from a libertarian perspective, but the lesson
learned is that not only is Bitcoin a dangerous investment but using
Bitcoin will not protect you from federal investigations and
prosecutions....MORE
Here's the
chart service Izabella posts.
