It's possible that bitcoin could go for a correction and resume quickly thereafter...
Unlike the crash of 1929, Bitcoin is still relatively small-stuff compared to the global economy or even American economy...
It would be as if the milk industry collapsed... The rest of society would go in virtually unscathed, only milk producers and traders would be devastated.
As such, I think we will see a big transfer of wealth.
Many people who have bought bitcoin for 8k+ will undoubtedly lose most of their investment, and that's what the market does... It rinses people who are ignorant...
People who saw the price of bitcoin at 8k and decided to buy thinking it would go up to the moon are suckers and therefore deserve to have their money taken away from them by vultures...
If the vultures in question happen to come from Bitfinex this time then fine!
This won't be the first or the last time that the common denominator gets his money taken from him by a smooth operators
Therefore, let the correction come, let all these people who rushed into bitcoin without knowing a thing about it learn an expensive lesson, let those who have gamed the system and played their cards right make an absolute fortune, and let's let the world continue to go round.
Hopefully this will serve as a lesson to future adopters of cryptocurrency not to get into it because they think they can make quick gains! But to get into it because it's the future of money and has virtually endless potential and applications!
My 2c on this recent fiasco, does anybody disagree?