Bitcoin is well off its all-time high, due in large part to moves by China to shut down domestic Bitcoin exchanges.
Also putting pressure on Bitcoin: The People’s Bank of China recently banned initial coin offerings (ICO), thus outlawing the practice of creating and selling cryptocurrency to investors to finance startup projects in the country.
Bitcoin-watchers take solace, however, in Bitcoin’s price resilience around the $4,000 mark – and hopes that China will see the light and ease its newly-minted restrictions.
And then there are skeptics like myself who see China’s moves as the first few dominos to fall, heralding a complete collapse of the Bitcoin speculative bubble.
I’m not going to use this article to argue that Bitcoin is in a speculative bubble, however. That fact is too obvious to warrant such an argument.
Instead, I’m going to gaze into my crystal ball and predict what secondary effects such a crash will cause – in other words, the collateral damage.
When Bitcoin Crashes, Who Will Suffer?
Crystal balls are notoriously fickle to be sure, and there’s no reason to believe mine is any better than anyone else’s. As such, I am going to rate each of my predictions with a subjective probability score, measuring how likely I personally believe such collateral damage will occur. Your results may vary.
Read the entire article at https://www.forbes.com/sites/jasonbloomberg/2017/09/12/collateral-damage-from-the-inevitable-bitcoin-crash/.
Intellyx publishes the Agile Digital Transformation Roadmap poster, advises companies on their digital transformation initiatives, and helps vendors communicate their agility stories. As of the time of writing, none of the organizations mentioned in this article are Intellyx customers. Image credit: Casey Fleser.