Forbes's recent post spells out reasons why Bitcoin can hit $1,000 or below.....
After reading this, it highlights some additional things that I didn't realize. At the start of the rally, I pegged BTC to coming back to testing $1,500 since this was the last high before the rally really started. Some of the things mentioned before have been highlighted and reiterated here...one of which is being in a massive bubble for no reason.
The current dump makes me even more confident we will be seeing lower levels towards the $8k and $5k levels.
Overall, I do think this is possible. I see Bitcoin becoming irrelevant longer term, so yes, I think this is possible. BTC is comparable to AOL back during the dot-com boom, or MySpace during the social media boom.
The dump today is a huge indication that the Crypto market's are way too volatile for any businesses to utilize them for heavy transaction volumes.
THOUGHTS?????