My 11 December post (above) predicted that this would end like the Concorde Game (and indeed the real Concorde).
The arrogant side of me detests the mindsets of the greedy bogans that "invested" in this. The angry side of me detests the many financial instos who pushed it. The compassionate side of me realises that many people with basic intelligence and no market experience or knowledge have been led by the nose to slaughter.
Any medium of exchange needs a buyer and a seller. The value of that medium of exchange depends on relative demand by buyers and sellers. The trajectory will therefore likely follow poster Tangentland's (above) graph up to a point but a dead cat bounce is also possible at the end.
I can't see the point of heavily regulated cryptos over alternate mediums of exchange including fiat currency. In other words these instruments may not have a future purpose.
I'm not sure of the flow through effects to other market . By itself the loss is not enough to wobble the world economy but it could send a ripple (pun intended) into other asset bubbles.
