Nice analysis, but what I'm missing is why you think the first crypto currency will track the movements of a stock index? Down to $2000, really? I personally don't think this will behave like a stock, or stock index... you can't just print more shares of BTC when you need them, it has a finite supply. People know this, it's deflationary, in fact it is one of the most important reasons people flock to this space, to find refuge from low-interest bearing accounts, the impracticalities of physical gold, threat of bail ins etc. I would bet a lot of money that this does not touch $2000, unless there is a systemic threat to the coin, a black swan event, etc. And from what I can gather, that is not what you are saying here, but rather that this is a natural correction, a reflection of the psychology of the herd.
fmniloyuk
⋅
Nearly 64M in bitcoin has been stolen by hackers who broke into Slovenian-based bitcoin mining marketplace NiceHash.