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Huge Bitcoin correction now imminent as "Bitcoin fever" takes hold…

• Natural News

(Natural News) ANALYSIS: I'm putting out this time-sensitive alert to all our readers and fans who currently own Bitcoin. While Bitcoin is infinitely more honest than any central bank or government-run fiat currency system, it is also subject to extreme volatility and buy/sell manipulation by nefarious parties such as governments. As Bitcoin skyrockets past $2200 (USD), a very large correction now looks imminent.

In 2013, I issued a public warning that Bitcoin was wildly overpriced, urging people to sell the peak. Within 24 hours, Bitcoin plummeted more than fifty percent in value. Now, almost four years later, all the signs are telling me that Bitcoin is due for another very large correction — I estimate a roughly 1,000-point drop — which could cut its current value in half (compared to fiat currencies such as the USD).

Bitcoin has achieved an extraordinary rise over the last 12 months, skyrocketing from about $600 to a recent peak of $2300. In just the last month, it has more than doubled its value, achieving an almost parabolic rise that is clearly unsustainable. While the long-term prospects for Bitcoin are strong — and I believe it will achieve $10,000 per Bitcoin in the years ahead — this recent parabolic rise is a sure sign of "irrational exuberance" now rearing its ugly head once again. Some people call it "Bitcoin fever," and it has all the signs of tulip bulb mania, especially in Japan where Bitcoin purchases currently carry an astonishing 20% premium over the same purchases in U.S. dollars. (That's an inescapable sign of irrational panic buying if there ever was one…)

Bitcoin has a strong future, but short-term volatility will be unbearable for many

To be clear, I am pro crypto currency and I believe Bitcoin will experience huge growth in value when the global banksters' debt Ponzi scheme starts to crash… which could begin later this year, says David Stockman. "What the market is saying is we have reached the point of full employment forever.  There will never be another recession or any kind of economic surprise or upset or dislocation.  The market is pricing itself for perfection for all of eternity.  This is crazy. . . . I think the market could easily drop to 1,600 or 1,300.  It could drop by 40% or even more once the fantasy ends."

I also believe our world is rapidly approaching the end of the era of central banks (and all the evil currency manipulation and counterfeiting that goes along with them). Once the global debt pyramid scheme really starts to unravel, Bitcoin could hit seemingly incredible valuations such as $10K or more… but this all depends on the internet staying up, computers staying online and sufficient redundancy in the blockchain to maintain the integrity of the Bitcoin transaction ledger. If the global crash is truly apocalyptic, Bitcoin could vanish and be worth nothing… but you'll be too hungry to notice, since most of the world's population will be facing starvation and mass death anyway. Barring that worst-case scenario, Bitcoin is likely to experience a vigorous, long-term rise in valuation, even as it undergoes a daunting roller coaster ride of volatility along the way.

Right now, hovering around the $2200 mark, I believe that Bitcoin is significantly overvalued due to recent spikes in purchasing which are largely based on irrational speculation. The "buy Bitcoin" rally cry is out-shouting the more rational voices which are attempting to treat Bitcoin as a real transactional currency rather than a speculative investment vehicle. The problem, of course, is that volatility scares away potential merchants who would be happy to accept Bitcoin for purchases if only the prices didn't swing by sometimes 10% in one hour.

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