Bitcoin Crash: Why This Time is Different
November 29, 2018
For Immediate Release
Bitcoin Crash:
Why This Time is Different
Palm Beach Gardens, FL-- Statement by Martin Weiss, Founder of Weiss Ratings, on the recent plunge of bitcoin, decline in the cryptocurrency market, and why this time is different:
“Since Bitcoin began trading actively, it has plunged by 70% or more on four separate occasions. Each time, people wrote its obituary. And each time, Bitcoin rose from the dead, rising by an average of 6,300% from low to peak. Now, Bitcoin has declined by more than 70% again, setting the stage for another major price rise likely to begin in 2019.
“However, there is one important difference this time: Bitcoin has not kept up with the latest advances in the Distributed Ledger Technology (DLT) that underlies cryptocurrencies. It will continue to play an important role, but primarily as a store-of-value commodity akin to gold. In its place, a select group of faster, more scalable cryptocurrencies will lead the way both in terms of price appreciation and innovation.”
Contact: Joy Howell
202-302-5932