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The Bitcoin Bubble Is Bursting – Here’s What You Need to Know

What’s going on?

Bitcoin and other major cryptocurrencies, including Ethereum, Litecoin and Ripple, are crashing hard in market value. “The wheels are coming off the bitcoin bandwagon,” one analyst told Business Insider.

The market comprising all major cryptocurrencies dropped from around $500 billion to about $375 billion in just one day.

Ouch …

Bitcoin has been declining in value for the past monthand remains a volatile investment. Experts have been debating for a while whether digital currencies and their rising value are the future or just another bubble. Bitcoin peaked at a $19,783 value on Dec. 17.

Glenn’s take:

Cryptocurrencies make central banks nervous because they can’t be manipulated, which is why governments worldwide are making moves to regulate digital currency. Bitcoin may be failing now, but don’t count out digital currency for the future.

“It’s not just currency,” Glenn said on today’s show. “The governments of the world will try and fight it, but I believe and hope that they will fail.”

This article provided courtesy of TheBlaze.

GLENN: So is this the beginning of the great crypto crash of 2018? I wouldn't say it was the beginning. I'm hoping that this is the end. I said over the holiday, I believe that crypto currency, bitcoin in particular would crash to about 8,000, and then it would regain its sea legs and it would start to stand up again. I would said that it would crash because of government interference and governmental scaremongering. And the governments around the world would realize, uh-oh, I'm no longer in charge, we've got to do something. In the end, I believe the government of the central banks around the world lose.

But let's talk about this for a second. The high value crypto currency's double-digit percentage losses in the last 24 hours. Bitcoin has lost $2,000 since yesterday. That's a total market value of $120 billion.

If you were one of the crazy people that took a loan out to buy this tulip, you're regretting it today.

So what's going on? Future traders are beginning to get worried about Asia launching a massive regulatory crackdown. And it's starting in Asia. But governments all over the world are looking to not only just regulate, but possibly even launch their own state crypto currency.

Can I ask you a question? Why has the United States not come out and said, we're going to launch our own cryptocurrency? The dollar is now going to be the US bit dollar.

And use the same technology. And the full faith and credit. Now, I know that that takes a lot of things out of the -- the cryptocurrency world that we like. But I'm just trying to think like them for a second. Are we this stupid? The answer is, no. We're that old and out of touch.

South Korea and Russia have been the two recent countries to mention plans now to regulate cryptocurrency.

We knew it was coming. The question now is whether cryptos like bitcoin will be able to endure the bloodbath and recover.

As Chancellor Palpatine said to Anakin, all those who gain power are afraid to lose it. It's not just losing the power, but the fear of who or what will replace the power, at the fed and central banks.

Look at -- look at what cryptocurrency provides. It cannot be hacked. You'll never wake up and find that somebody stole your identity and emptied your bank account. It's the ultimate reason governments hate it. Cryptos are not subject to a central bank, so they cannot be manipulated.

Those are the reasons that cryptocurrency, ultimately, I believe, will not only survive, but rebound with a vengeance. The block chain technology, the powers crypto is going to revolutionize is pretty staggering. It's not just currency. The governments of the world will try and fight it.

But I believe -- I hope that they will fail.

I think they will because we're standing in the doorway of a technological revolution. I want you to hear that. A technological revolution.

It's nothing short of that. The next ten years are going to be a very bumpy ride for people who have ridden this system for a long time, up at the top. It's also going to be very bumpy for the rest of us. And bitcoin is only a small part of it. The transition period that we're going through will be painful. But it's, actually, very exciting if you look at what's on the horizon.

If we're careful, true freedom -- freedom beyond anything our founders could ever have managed is on the horizon. Because everything is about to change.

THE GLENN BECK PODCAST

Tulsi Gabbard Smashes LIES about Our Military & Conservatives | Ep 99

It's hard to put a label on former Democratic congresswoman and presidential candidate, Tulsi Gabbard. She has worked with Bernie Sanders but has also felt the fires of the Left and mainstream media for simply putting her love for this country above partisan politics. Lately, she has even sided with conservatives on issues from transgenderism to Big Tech censorship. But as much of the nation dives dangerously deep into partisan politics, Tulsi calls on Democrats to turn their talk of unity into action and joins Glenn to lead the way. Together, they ask who's defining "extremism," why are there still troops guarding the Capitol, and how long will we let our First Amendment be trampled on as Congress "bullies" conservative media outlets and the COVID-19 restrictions persist? And Tulsi shares her own experience in the military that shatters the far-left narrative that it's crawling with white supremacists.

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CONTROL FREAKS: The Great Reset Overlords Who Will Ru(i)n Your Life

"All rich countries should move to 100% synthetic beef. You can get used to the taste difference," said holy anointed billionaire Bill Gates. Green activism has been around for decades. But what used to be wacky has now worked its way into the world's power structure. You must believe the science. You cannot question the science.

The Texas power failure provided America with a disturbing and deadly preview of the Great Reset. But Bill Gates, AOC, and other Democrats say this only proves we need to enforce MORE green policies.

On his Wednesday night special this week, Glenn Beck reveals how deep the Great Reset tentacles reach into government and business to strangle freedom and their efforts to control every aspect of your private life.

Watch the full episode below:

Want more from Glenn Beck?

To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.

THE GLENN BECK PODCAST

Dr. Ben Carson's Prescription to Heal America | Ep 98

To the Left, "unity" means "destroy everyone we disagree with." But Dr. Ben Carson has another message: "We are not each other's enemies." As the Biden administration insists America is systemically racist, Dr. Carson's life proves just how far we've come. Despite facing poverty as a child, he became a renowned neurosurgeon, a candidate for president, and former secretary of Housing and Urban Development — one of the only Cabinet members to survive all four years of the Trump administration.

He joins Glenn to review his time in the administration, including as part of the White House's coronavirus task force, and how he discovered "the swamp is deeper and wider than I expected." But above all, he urges Americans to take courage and stand for our freedoms — and previews his newest venture to do just that as founder and chairman of the American Cornerstone Institute: "What version of America do we want?"

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Unmasking the OTHER Deadly Pandemic: What's Killing Our Kids

There is an all-out assault on the social fabric of our country. The kids are NOT all right. In the name of "progress," we're destroying their minds with Marxist lies. In the name of "safety," we're destroying their souls by keeping them locked down.

On his Glenn TV special this week, Glenn Beck takes on the national suicide that the Left is committing by destroying our culture and way of life and how it's also leading to actual suicide of our kids. Experts on the front lines expose how the lies of critical race theory are crippling our children's future and provide tools for parents to fight back.

Finally, Glenn hears from a parent who tragically lost his teen son, who took his own life due to COVID isolation. He has a powerful message for parents, teachers, and politicians who he says are failing our kids.

Watch the special in full below:

Want more from Glenn Beck?

To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.