Why did Bitcoin drop by 15 percent in just 1 hour? 

I predict that after a few months, it will fall below 2000 USD. There are no examples of privately owned currencies in the recent past. The central bank of the nation will intervene to stop a normal currency from dropping by enforcing currency controls or increasing interest rates. This is something that Bitcoin is incapable of. There used to be various regional currencies created by banks in the past century or more, but these crashed frequently to zero, which is why there are no regional private currencies today.



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“Because there is no basis for its value. It’s not made of precious metal. There’s no government demanding that everyone accept it as money. It’s not even ownership of real property like stocks. The price is determined ENTIRELY by how much people are willing to pay for it, and eventually you run out of people willing to buy it..”

By Alexandre Laurent

Alexandre Laurentl is working in the jewelry and investment gold since 2002. Alexandre graduated from The Normandy School of Business and from the University of Perpignan a Bachelor of economics in 1995.

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