So far both the price action and sequence of events is following the same Ponzi Patterns I observed in Nasdaq, Subprime and Greek Debt bubbles.
Now, we have a minority -extremely smart and useful- academician doing the job that was supposed to be done by government regulators to prove the shenanigans and utter bs….
What we know today as money is credit 99.99% of the time. Credit of a sovereign is the foundation of the credit construct and that’s backed by the receivables of that sovereign. The only other thing that’s not credit but money is gold because it’s judged as money by the highest authority in the world: TIME.
Bitcoin is neither credit, hence nor money.
Here are some great articles and post about the subject matter:
(Disclaimer: You can and some have made money with Cryptocurrency trading, we are not denying it, but as it is with all Ponzi scams, there will be some manipulators who will make money and many many that will lose, but there will be an end -sooner than later- to this absurdity and the ones having their hard earned money stuck in Crytocurrency will be the losers.)
And by the way we do not claim the world is flat! we are just telling the truth exactly as we see it, and boy have we seen some scams (big and small) in the last four decades!