'Bitcoin just suffered its largest weekly decline in more than three years. But the worst part for some of crypto’s permabulls is that they aren’t sure what exactly caused the crash.
The selloff left many of the market’s luminaries—those so well-known that they go simply as “Pomp” and “Novo” and “Mooch”—searching for answers.
“Bitcoin is crashing and investors are freaking out,” Anthony Pompliano, a crypto evangelist and investor, wrote Friday.
Bitcoin fell 16% to $70,008 this past week, down a sharp 45% from its all-time high of $126,273 in October. Ether dropped 24% to $2,052, off 59% from its own high of last year. Both tokens staged furious rallies Friday, but the week remained a historically bad one for crypto. And few seem to know what went wrong.
Market theories for the selloff ranged from investors’ pivot toward the prediction markets and other risky bets, to widespread profit-taking after a blistering bull run.'
Or is it the rise of gold and the decline of US hegemony?
Trump has become pretty closely aligned with 'crypto'.
Gold not so much.
China has won the trade war and is stacking gold, not Bitcoin.
For full article go to -