A few weeks ago there were predictions that the bitcoin price was headed to $100k, even to a million dollars. Well, an odd thing happened on the way to the moon: the price of bitcoin collapsed by 50% this past month. It is now flirting with closing below its 100 day moving average. Probably not very positive for the bitcoin price.
Also, I see this article: https://www.investopedia.com/news/japans-biggest-bank-releasing-its-own-cryptocurrency-march/ about banks in Japan getting into the crypto currency game with their own. Such regularization and mainstreaming of crypto currencies is almost sure to reduce demand for rogue “currencies” such as bitcoin. Add to that the intense pressure that the IRS has been putting on bitcoin dealers for their client lists, and bitcoin is in trouble methinks. The IRS is like to apply the same pressure that the U.S. Treasury did to UBS and Credit Suisse some years back when they blackmailed those giant Swiss banks into providing client lists (give them up or we are shutting down your mammoth USA operations).
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