Bitcoin crashes over 50% just one day after bold public prediction by Mike Adams of Natural News
 Wednesday, April 10, 2013 |
Learn more: http://www.naturalnews.com/039865_bitcoin_crash_prediction_Mike_Adams.html#ixzz2QBBpKhIC
Wednesday's wild ride came as someone gave away thousands of dollars worth of Bitcoins on Reddit, the social news site. News blog Business Insider calculated a Reddit user under the name "Bitcoinbillionaire" had given away $13,627.69896 worth of Bitcoins to Reddit users over the day.
This giveaway is what apparently caused the bitcoin crash. But I have news for everyone. Having now made, on the record, the single most accurate crash prediction ever publicly announced on bitcoin, I think I've earned the credibility to tell you more: Bitcoinbillionaire is almost certainly not a friend of bitcoin. He is likely working for the central banks.
How do I know that? Because the "bitcoin giveaway" that crashed the market today was a calculated stress test to determine the "buoyancy" of the bitcoin market. By injecting a predetermined amount of supply into the market and watching the price reaction, it can easily be calculated how many bitcoins will be required to crash the entire market down to a desired price level, causing a runaway panic.
This engineered crash was, in effect, a currency war probe attack designed specifically to calculate what is needed for a much larger attack planned for the future -- an attack that will decimate bitcoin and cause long-lasting distrust in non-centralized currencies.
Again, I predicted this would happen almost word for word in yesterday's article, in which I outlined a 6-step "recipe" the central banks would use to destroy bitcoin:
Step 1) Central banks buy up massive quantities of bitcoin currency, driving the prices into the stratosphere and encouraging millions of people around the world to jump on board the "get rich" bandwagon.
Step 2) Once bitcoin valuations reach a sufficient level of insanity, start a massive selloff by dumping the bitcoins you already bought onto the market, offering them for sale at any price (i.e. sell into falling prices, accelerating the loss in valuations).
Step 3) Watch panic take hold as the bitcoin crash accelerates, ending in a catastrophic wipeout of "valuation" of all bitcoins.
Step 4) Find "victims" of the bitcoin crash who can tell a good sob story for the mainstream media about how they invested little Johnny's college money in bitcoin and lost it all. Roll them out on CNN and MSNBC where they cry on camera and talk about how they were ripped off by bitcoin and now they only trust the government from now on.
Step 5) Demonize bitcoin by characterizing it as a "libertarian pyramid scheme." Lash out against both decentralized currencies and libertarians.
Step 6) Once the demonization gains traction, have traitors in the U.S. Congress announce a "Consumer Currency Protection Act" that outlaws non-central bank currencies such as bitcoin. It's all "for your safety," of course. Shut down all online bitcoin wallets and exchanges, calling them "criminal pyramid schemes" and arrest a few people using bitcoin to send a warning message to the rest.
What we saw unfold today was step 2. Step 3 is next, but the central banks may wait weeks, months or even years before pulling the trigger in step 3. (The timing is impossible to know.)
This giveaway is what apparently caused the bitcoin crash. But I have news for everyone. Having now made, on the record, the single most accurate crash prediction ever publicly announced on bitcoin, I think I've earned the credibility to tell you more: Bitcoinbillionaire is almost certainly not a friend of bitcoin. He is likely working for the central banks.
How do I know that? Because the "bitcoin giveaway" that crashed the market today was a calculated stress test to determine the "buoyancy" of the bitcoin market. By injecting a predetermined amount of supply into the market and watching the price reaction, it can easily be calculated how many bitcoins will be required to crash the entire market down to a desired price level, causing a runaway panic.
This engineered crash was, in effect, a currency war probe attack designed specifically to calculate what is needed for a much larger attack planned for the future -- an attack that will decimate bitcoin and cause long-lasting distrust in non-centralized currencies.
Again, I predicted this would happen almost word for word in yesterday's article, in which I outlined a 6-step "recipe" the central banks would use to destroy bitcoin:
Step 1) Central banks buy up massive quantities of bitcoin currency, driving the prices into the stratosphere and encouraging millions of people around the world to jump on board the "get rich" bandwagon.
Step 2) Once bitcoin valuations reach a sufficient level of insanity, start a massive selloff by dumping the bitcoins you already bought onto the market, offering them for sale at any price (i.e. sell into falling prices, accelerating the loss in valuations).
Step 3) Watch panic take hold as the bitcoin crash accelerates, ending in a catastrophic wipeout of "valuation" of all bitcoins.
Step 4) Find "victims" of the bitcoin crash who can tell a good sob story for the mainstream media about how they invested little Johnny's college money in bitcoin and lost it all. Roll them out on CNN and MSNBC where they cry on camera and talk about how they were ripped off by bitcoin and now they only trust the government from now on.
Step 5) Demonize bitcoin by characterizing it as a "libertarian pyramid scheme." Lash out against both decentralized currencies and libertarians.
Step 6) Once the demonization gains traction, have traitors in the U.S. Congress announce a "Consumer Currency Protection Act" that outlaws non-central bank currencies such as bitcoin. It's all "for your safety," of course. Shut down all online bitcoin wallets and exchanges, calling them "criminal pyramid schemes" and arrest a few people using bitcoin to send a warning message to the rest.
What we saw unfold today was step 2. Step 3 is next, but the central banks may wait weeks, months or even years before pulling the trigger in step 3. (The timing is impossible to know.)
Extreme price volatility has already destroyed bitcoin credibility
Although bitcoin quickly recovered some of its losses today, the extreme volatility is a huge red flag for this currency. Why? Because it means merchants won't want to accept payments in bitcoins because they could lose half their pay values in mere hours. This damage is already done. In the minds of merchants who were considering accepting bitcoin, bitcoin's reputation has been destroyed as of today....I did not crash bitcoin; I only predicted the crash
I don't hate bitcoin, for the record, but I do know when something looks like a bubble and people need to be warned. My hope is that the hype mania of bitcoin can burn out and we can get back to the old bitcoin that was less volatile and far more affordable. I would like bitcoin to succeed, but now it is obvious that its reputation can be decimated at the merest flinching of the central banks.
To think: this crash was caused by nothing more than $13,000 or so worth of bitcoins flooding the market all of a sudden, causing the loss of $1 billion in market valuation. How's that for outrageous volatility?
To think: this crash was caused by nothing more than $13,000 or so worth of bitcoins flooding the market all of a sudden, causing the loss of $1 billion in market valuation. How's that for outrageous volatility?
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