- Bitcoin failed to deliver its promises during the last 12 years of existence. As a result, Bitcoin still has no "use-case" and is purely used as a medium of speculation.
- Bitcoin is driven by media hype and retail momentum; at this point, Bitcoin has exhausted major catalysts, which is problematic for Bitcoin's momentum moving forward.
- Bitcoin has underperformed compared to other cryptocurrencies, and that doesn't bode well for its momentum. Other cryptocurrencies (Ethereum, dogecoin) may take over Bitcoin's thunder.
- Governments worldwide started implementing drastic measures to stymie Bitcoin adoption, and Bitcoin may fall victim to its own success. The higher it goes, the riskier it gets.
- Shorting the bitcoin bubble could be like shorting the banks in 2008; it could be the most profitable trade of the decade.
For further details see:
Why I Am Shorting The Bitcoin Bubble Now