Financial safety

Bitcoin Has Crashed--What Now?

Bitcoin (BTC) has crashed. No one really knows why but in my model we should be in for "good" news on the China trade war or some such China-related information that is strong for the Chinese currency.

This is only a theory but if it is correct, bitcoin will either rally vertically if no news breaks or the news will appear very soon. This is being written at 12 p.m. GMT September 25 and the news ought to be out there by no later than the end of the week. If I’m wrong and there is no such news and the price stays down or falls more still with no positive trade war news then my bitcoin theory, which has served so well, will be severely challenged.

In any event, bitcoin has crashed. The dreaded flag has broken to the downside and the bottom is anyone’s guess.

The decision what to do next comes back to the schism between believing BTC will be worth $100,000-plus a coin or $0 a coin. You have to pick your side.