The year 2022 will mark the demise of cryptocurrency as we know it
When forecasters get a prediction right, critics often chalk it up to little more than coincidence. But let’s give it a go: 2022 will bring the end of cryptocurrency as we know it.
Begin with bitcoin. Its price can’t increase forever, but it’s had a parabolic rise since the end of 2018. (See “End in sight?” below.)
As bitcoin ascends the final slope of its three-year bull market, one of two things must happen: Its price must fall off the parabola or melt up to its ultimate peak. Either way, that’s bad. As a result, we can expect a bear market in 2022.
The great altcoin purge
What about ethereum and the thousands of other cryptocurrencies that aren’t...