Bitcoin $GBTC is sub $4000 for the first time in 2018.Looks like the Greater Fool has left town.Bloomberg analyst Mark Cudmore writes the following: Bitcoin’s Believers Are Accelerating Its Decline Ironically, Bitcoin’s demise is being facilitated by its most passionate believers, and their lack of understanding of basic economics. • To reiterate for the umpteenth time, this isn’t a criticism of blockchain technology, nor the theoretical concept of a cryptocurrency -- this piece is specifically focused on the decentralized ponzi scheme that is Bitcoin• HODLers (those who advocate Holding On for Dear Life rather than sell any of their Bitcoin stash) keep on attacking cynics by asking how bitcoin can go toward zero if they hold onto their bitcoins and don’t sell? It’s quite easy: if 10 people retain 10 pieces of worthless garbage rather than throwing it out, there’s still no market bid for that garbage• The whole concept of an asset that hinges on the Greater Fool Theory is that you need to find a greater fool to buy it off you -- if you don’t, then the implication is that you are the greatest fool and you will be left HODLing the asset as it becomes worthless• Bitcoin has no inherent value -- it yields nothing nor can be used to produce anything -- so it depends on speculation for survival. Many might argue it’s actually a net cost to society, given the immense energy requirements to process it, but it perhaps will retain some religious attraction for a long time• When something has no value and yields no return, and yet supply is slowly increasing, then it needs a marginal buyer to retain its price - - it doesn’t require a marginal seller• And HODLers are compounding their own problem by refusing to use bitcoin as a transactional currency, therefore rendering it entirely speculative and completely useless in the real world. If they used it rather than HODLing, then it would just be a poorly devised cryptocurrency rather than a disastrous speculative trap. $GBTC, GRAYSCALE BITCOIN TRUST / H1 Strategy: Avoid $NVDA, $AMD. Buy oil $OIH $OIL.Bitcoin will keep falling from $4000 and close lower by end of January, 2019.Agree or disagree?