BITCOIN WARNING: “If we let things continue, I feel that it will lead to some serious distorted or pathological phenomenon.”
KingWorldNews.com
November 29, 2017
On the heels of some wild trading in Bitcoin, this dire warning was just issued…
Bitcoins are millennials’ gold
November 29 (King World News) – Gerald Celente sent the following email to King World News:
“Bitcoins are millennials’ gold, and partially for the same reasons about the endless money printing by governments…only so many crypto’s can be printed and their digital currency is as valuable or valueless as all of the governments digital currencies…printed on nothing and backed by nothing. It will also hurt banks since people won’t need them…
Another important element is that it is global. The big rise came when the Chinese Yuan was sinking back in early 2016 and the people, rather than seeing their currency become more worthless, went into Bitcoin…that was the big driver up in its price. And, with the world going more cashless there is no love of country attached to currencies as in the past.
Of course I could be wrong, but as a trend forecaster, I try my best to look objectively at this compared to gold, and one reason physical gold sales are down is because people are going into cryptos. Will there be a major correction…Bitcoin going from $9,500 to $1,500? Yes, there are too many of them and they keep correcting…but growing, but I don’t see them vanishing. And look at gold prices…remember when it went to nearly $900 back in 1980 to the $200 range years later…and stayed low for two decades!”
The Rest…HERE
