ON THE AIR: Cryptocalypse?
I have often said that Crypto-money/coin/cash is on the edge of being totally tossed out. At least in the form as we currently know it.
The reason is simple. Nations that like to print and control their own money cannot afford to have a monetary system that is out of their control. These countries cannot have a money or coin that its citizens adopt and use in which the government has no control or tax authority over.
Its normal and its logical.
I also said that there is no real reason for these currencies to valued so high without anything to back them up. Remember, there is no hard currency or precious items to back them up. And the fact that governments have not yet weighed in on them makes these high values fake.
Now we here that I am right. Major economy nations are moving or considering moving against these types of currencies and the bottom is starting to drop out on them. If you have a position in these currencies and you came in to that position at a rather high valuation, you may do your real wallet some good by getting out before these nations announce they are regulating or even worse, banning them.
News AU: $260 billion ‘cryptocalypse’ as cryptos plunge 30 per cent amid fresh China, South Korea fears