Bitcoin In 2018: “There Will Be At Least 4 Crashes Of 40% Or More”

When you see something titled ‘Bitcoin 2018 Predictions’, you are probably most interested in just one thing: ‘Where will it go?’ So let’s start there, but then add some other observations on a variety of topics.
#1: We expect bitcoin will trade for between $6,470 and $21,600.
Here’s how we get there:
Bitcoin’s primary ‘real’ use case right now is personal asset protection. Yes, that includes money laundering and tax evasion. But it also incorporates the legitimate desire of honest people living in countries with less-than-exemplary rules of law to shield some of their assets. At the moment, the primary instrument used globally for these purposes is the $100 bill. Yes, the European Central Bank also issues high denomination notes. But the gold standard of paper currency is the American C-Note. (Oxymoron intended).

This post was published at Zero Hedge on Dec 27, 2017.