Bitcoin Now Entering Death Spiral

Popular cryptocurrency close to becoming worthless

Image Credits: BTC Keychain, Flickr.

Just one year has passed since bitcoin enthusiasts forecasted that the cryptocurrency would hit a price of $1 million.

But that was then. With the price of bitcoin BTCUSD, -8.21% having fallen almost 80% from its peak, and now trading well-below the support level of $6,000, everyone is wondering where it goes from here.

The answer is, a swift and painful drop to zero.

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