, 2022-11-22 10:15:00,
So far, 2022 is not proving to be a particularly good year for Bitcoin (BTC-USD). Although, to be fair, it’s not looking to be great for most any cryptocurrency or any investment in general. Unlike most investment opportunities though, Bitcoin is distinguished by the fact that, at the end of the day, I think it’s destined to see its price plunge. For years, cryptocurrency in general has been hyped up. In addition to the general enthusiasm that is common with new and rapidly expanding technologies, Bitcoin has benefited from an environment of low interest rates and almost nonexistent regulatory oversight. But with interest rates rising, economic conditions worsening, and significant pain caused by a lax regulatory environment now becoming headline news, I truly believe the best days for Bitcoin and, cryptocurrency in general, are in the past.
Not entirely worthless… but not far off
Although this article could be used for cryptocurrency in general, I recognize that there is a tremendous amount of variation between cryptocurrencies that don’t make them exactly comparable with one another. So instead of having this content directed at all cryptocurrencies in what would ultimately fail to account for the tremendous variety that exists on the market, my overall focus will be primarily on Bitcoin.
For a long time now, I have thought of Bitcoin as being more or less worthless. This is not to say that it has no value. Clearly, there is a financial benefit to being…
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