Beginning of the end for Bitcoin

David Llewellyn-Smith

Wednesday, 17 January 2018

Crypto carnage last night as global regulators close in on the world’s first global pyramid scheme and bubble:

BTC has broken support (if that even makes any sense):

As China and Korea move to regulate and block it.

I have absolutely no idea where it goes from here except to say that regulators are moving with surprising swiftness and MUCH more regulation – that is to say bans – are to come.

Sure looks like the beginning of the end.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.