Bitcoin - the bubble will burst soon (the bitcoin rate will fall by 70%)

The info was leaked by a friend who took a big risk with a large investment in bitcoin and believes that he got out in time with a +640% profit. Now he is a multimillionaire and sleeps peacefully.

So, in simple terms, for dummies (don’t say later that you weren’t warned in advance).

What is the reason for the recent rapid growth of the Bitcoin exchange rate? They talk about businessmen, investors, hedge funds, thieving officials and ministers who are hiding their tracks because of the lockdown.
Yes, these factors exist.

But it’s better to look at who is buying bitcoins on exchanges:



And this is the picture for approximately all major exchanges.

What is Tether? It is an American crypto-firm that has been in court with the New York prosecutor's office for 1.5 years and is accused of fraud.



On the emission chart of these same Tethers, the first red arrow is a court order to transfer all technical information about working with cryptocurrencies.

Then 1.5 years of appeals and delays.

The second red arrow is the final failed appeal and the court's decision to begin the examination.

After that moment, new Tethers began to be launched on the market in tens of millions per day and through their services, they began offering people crazy bonuses and promotions. People buy Tethers and exchange them for bitcoins, and the impersonator company repurchases them from exchanges so that they are liquid.

A massive billion-dollar pyramid scheme is being built that relies on Tether attracting new customer investment.

Now the trick: Bitcoin's rate lags behind Tether emissions and shares by several hours.



Well, and for dessert. Tether barely has enough money for the current operations of buying back its currency. A little more and everything will collapse.



All banks (all assets, including other clients) that service them will not collect even 20% of the collateral for the Tethers launched into circulation.

Double trap.

1) The company does not have enough money to pay off the exchanges.
2) US court to ban new emissions

The pyramid will collapse and judging by the 1st diagram, the Bitcoin rate will decrease by 62-74%. And then think for yourself.

P.S. If this information helps, I can send you the Privat-24 card number (visa) for a symbolic donation for the saved money. I don't know yet what I'll spend it on, but I have some bold ideas ))

Do you think only Bitcoin will fall?
will fall along with bitcoin and all other alts, greedy hamsters who invested at the peak of the rate will lose a lot of money, and all because of greed)
my forecast is around 10 days and bitcoin will cost around 15 thousand$ and in another 20 days it will fall to 10 thousand$

ps everything that is created has a simple goal, first of all the creator must earn money, and not for hamsters to earn money)

Conclusions:
1) this pyramid is based on human greed, no one will close it because it makes money out of nothing and it will exist
2) Bitcoin will cost about 60 thousand $, but this will happen in about 5 years)
3) this info will not give anything because whoever bought it for 40 thousand dollars will not sell it cheaper, this is the calculation, they will wait for the price to go up, but there is only a deeper and deeper hole (the champion reminds me)

EliasM wrote how he started working with Bitcoin

I saw that it is now profitable to pay with crypto in many stores and decided to start using it. In fact, bitcoin is still a very crude payment method, especially for small amounts (although maybe for large ones too).

It is very convenient to carry out all these operations through the exchange, the registration took me 15 minutes with verification. But why is this off-putting?

1) Depositing money commission is 2.5%, withdrawal is the same.
2) I don’t know why I installed their extension (I thought the wallet was there), transferred ether there, automatically lost $5 for the transaction, then the same amount to transfer it back to the site.
3) I exchanged this Ether for Litecoin, where there is no commission, but maybe I lost something during the exchange.
4) I paid successfully in the store with Litecoin. I decided to repeat the transaction, for some reason it sent less, the money burned up. I had to send a new one. I realized that I definitely had to overpay. Although initially it says that Litecoin has a penny commission, during processing it multiplies tenfold for some reason
5) I came to the conclusion that if the casino says min. deposit is $10, and I don’t calculate the commission and send 9.99, the money will disappear in exactly the same way.
6) The money does not appear immediately. It is very unusual when you pay and wait (even for 15 minutes).

On the plus side, you can pay everywhere. And in principle, it is convenient for transfers from $100. Monetary losses will be 5-7% on commission, which is bearable compared to payment systems like PayPal, Skrill and Neteller. But it cannot be compared with deposits and withdrawals to a card.

Mira, good analytics.

After artificial panic and provoked growth, Bitcoin has returned to the levels of six months ago.



Have thieving officials lost their fear and stopped hiding their income and bribes in crypto? No.
Could it be that November-December is a period of accelerated utilization of government contracts and budget funds? Quite possibly.
The reason for the rise in the exchange rate at the end of the year and the sharp drop in prices since the beginning of the year is most likely a wave of rollbacks from government procurement.

And that's all you need to know about Bitcoin:



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