As The Guardian has noted:
Bitcoin's price sank to $63,000 on Thursday, its lowest level in more than a year, and half its all-time peak of $126,000, reached in October 2025. A months-long dip in cryptocurrency prices has tanked shares of companies that have increasingly invested in bitcoin, exacerbating broader stock market jitters.
This is the chart:
Note the trend: that is not an adjustment. That is a crash.
My conclusions are threefold.
First, this sham asset has a long way to fall as yet: there is literally no value to it. The destination is far down the Y-axis.
Second, this is the precursor. Sometime soon, the softness in the AI tech market will turn into a rout. There is real value there, so there will be a floor to the fall, but a halving of value is also likely. That will be a vastly better outcome than Bitcoin will enjoy, and mightily painful for the world economy, nonetheless.
Third, it would be great if Trump's fortunes went the same way. He has pitched his offering to both the crypto and stock markets: when both crash, we just have to hope his bubble bursts as well.
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An article on Naked Capitalism today by Yves Smith on Bitcoin and associated companies in which Yves writes that companies “have been buying crypto, borrowing against it, then sold interests in it to investors as exchange traded funds”.
The fall in Bitcoin prices is causing financial problems.
Is this another example of unregulated secondary banking?
Yves includes a a comment by Jake Broe that ” the average cost of mining a single Bitcoin is over $90k. The share price of a Bitcoin is $67K, everyone mining Bitcoin as the moment is losing a fortune”.
A simple observation how can crypto replace money at this cost? I can’t imagine that it costs say £7 to print each single £5.00 note.
Seems to me that crypto is pure gambling and must be stopped from infecting the rest of the financial system.
Much to agree with