Those that sold their cryptocurrencies at the peak of the market made a tremendous amount of money, but those that hold on to the bitter end are going to be gravely disappointed. For a while there, it seems like cryptocurrency prices were going to go up forever. 2017 was the best year for cryptocurrencies ever, and lots of investors were becoming millionaires on paper. But now the “Bitcoin bubble” has burst, and the losses are absolutely staggering. Unfortunately for crypto investors, it looks like things are about to go from bad to worse, because China has just launched an absolutely unprecedented crackdown on cryptocurrencies. Potential government intervention was always the “elephant in the room” for cryptocurrency enthusiasts, and now it is becoming a reality in a major way.
A war on cryptocurrencies such as Bitcoin, Ethereum, Ripple and Litecoin has begun, and it threatens to destroy the entire cryptocurrency industry. If you think that I am exaggerating, just keep reading. Government agencies are cracking down hard, Bitcoin traders that don’t file the proper paperwork are being sent to prison, Facebook and other online ad platforms have banned all cryptocurrency advertising, and now major credit card companies are banning their customers from using their credit cards to buy cryptos. What is an industry supposed to do if it can’t advertise and it can’t take credit cards? Such moves would kill virtually any consumer-oriented industry, and right now the cryptocurrency industry is absolutely reeling. If this war on cryptocurrencies continues to intensify, I honestly don’t know how the industry is going to survive.
Taxation and regulation are weapons, and governments often use these weapons to target things that they do not like. Cryptocurrencies such as Bitcoin, Ethereum, Ripple and Litecoin threaten to shatter the existing paradigm of financial control that the elite have carefully crafted, and that is making government officials all over the planet very nervous. So the latest rumblings about “government crackdowns” on cryptocurrencies in China and India shouldn’t come as any sort of a surprise. Those two governments hate anything that even smells like freedom, and so it was only a matter of time before they pulled the trigger. And the bigger the cryptocurrency bubble becomes, the more national governments around the world are likely to take action to “get it under control”.
Investing in cryptocurrencies such as Bitcoin, Ripple, Ethereum and Litecoin is extremely risky, and experts all over the country are warning that people should only invest what they are willing to lose. Unfortunately, many are getting swept up in the current euphoria surrounding cryptocurrencies and are not listening to that very sound advice. A disturbing new survey that was just released found that 22 percent of all Bitcoin investors are either directly or indirectly investing in Bitcoin with borrowed money…
After Bitcoin, can you name the second largest cryptocurrency? Until recently it was Ethereum, but now it is Ripple. At the start of last year, Ripple was trading for less than a penny, and even just a few months ago you could still get Ripple for about 20 cents. But now the price of Ripple has absolutely exploded, and as I write this article it is sitting at $3.15. At this point Ripple has a market cap of more than 120 billion dollars, and those that got in when Ripple was under a penny have seen their investments go up by more than 40,000 percent.
2017 went by way too quickly. Donald Trump’s first year in the White House shook up the entire planet, and nobody is quite sure what is going to happen next. Personally, as 2017 began I was still having a hard time actually believing that Trump was going to be our president. Once he was finally inaugurated on January 20th I was able to relax a little bit, but at that point I had no idea that I would soon be running for Congress here in Idaho as a pro-Trump candidate. As 2018 begins, I think that it would be good to look back and remember some of the most important things that happened over the past 12 months. The following are 44 numbers from 2017 that are almost too crazy to believe…
Demonization is the first step toward making something illegal. Over the past couple of months, Bitcoin and other cryptocurrencies have experienced a tremendous surge in popularity. Personally, I was completely floored the other day when my nephew wanted to ask me questions about investing in Bitcoin. It seems like the whole world is getting caught up in the cryptocurrency revolution, and needless to say, the powers that be cannot be thrilled about this. Independently-controlled cryptocurrencies represent an existential threat to the global debt-based central banking system that we have today, and so the elite have a very strong incentive to bring about the demise of Bitcoin and other emerging cryptocurrencies.
Independently-controlled cryptocurrencies such as Bitcoin, Ethereum and Litecoin may or may not survive in the long run, but blockchain technology is definitely here to stay. This technology has revolutionized how digital financial transactions are conducted, and it was only a matter of time before the big boys began to adopt it. Previously, I have written about how the Washington Post is hyping something known as ‘Fedcoin’, but Fedcoin does not yet exist. However, a digital currency that uses blockchain technology that is called ‘Utility Settlement Coin’ is actually very real, and it is currently being jointly developed by four of the largest banking giants on the entire planet. The following was recently reported by Wolf Richter…
Bitcoin, Ethereum, Litecoin and other major cryptocurrencies have been on a wild ride this year, and over the past 10 days the volatility that we have witnessed in the marketplace has been absolutely breathtaking. On December 17th, Bitcoin shot above $19,800 for a brief moment before it started plummeting dramatically. At one point the price of Bitcoin dipped below $11,000, which represented close to a 45 percent decline from the record high that it had hit just five days earlier. And Bitcoin was far from alone – virtually every other major cryptocurrency was also down between 25 and 50 percent during that five day period. But now almost all of them are bouncing back, and at this moment the price of Bitcoin is $14,219.99.
Fedcoin doesn’t even exist yet, and yet the Washington Post is already hyping it as the primary cryptocurrency that we will be using in the future. Do they know something that they rest of us do not? Just a few days ago I warned that global central banks could eventually try to take control of the cryptocurrency phenomenon, and so I was deeply alarmed to see the Post publish this sort of an article. We want cryptocurrencies to stay completely independent, and we definitely do not want the Federal Reserve and other global central banks to start creating their own versions. Because of course once they create their own versions they will want to start restricting the use of any competitors.