This wasn’t supposed to happen. As this article is written, Bitcoin is trading around $8300. It’s up from breaking the $6000 barrier, but this could well be a dead cat bounce. That’s down from nearly $20,000 in mid December. After all, everyone knows that Bitcoin only goes up. Just like the stock market and housing prices. What gives? What’s happened in cryptocurrencies was completely predictable. In fact, I wrote an article about this very scenario back on December 25, 2017. Of course no one listened, because when you’re under the influence of dopamine (a powerful neurotransmitter) you’re unable to listen to reason and act accordingly. Effortlessly making money in a bubble is quite gratifying and euphoria inducing. No one wants to come down from the high, you want it to keep going forever. But nothing lasts forever, especially financial driven manias. Just ask the tulip farmers in Holland. What’s up with Memo-gate, Q Anon and the coming storm surge in Washington DC. One thing is for certain, things will never be the same in our nation’s capitol.
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