TO THE EDITOR:

     Given markets’ massive appreciation in 2017, let alone the fact that this bull market has been around for practically eight years, investors are starting to wonder what will trigger the next recession.

     Will it perhaps be caused by the Fed raising rates too quickly? How about mounting geopolitical risks? I am proposing that the all too famous Bitcoin cryptocurrency might be the catalyst.

     Bitcoin was first created in 2009 and was worth less than $1. It is now trading around $15,000. ...

     Concern has been expressed lately regarding Bitcoin’s “parabolic” rise in price, potentially indicating a bubble. Compare Bitcoin’s chart to the Tulip Mania chart and you might see frightening similarities. ...

     ... this downfall could affect Wall Street also. Many firms have faith in Bitcoin, and will likely participate in Bitcoin futures, taking a bullish stance. When this bubble bursts, those firms will take a hard hit.

     ... This collapse will harm Wall Street as well as retail investors. This would likely cause a subsequent collapse in other financial markets, namely equities, while Wall Street firms try to claw back cash. ...

— Jon Stehlik
600 Campus Drive Unit 877

     To read the entire letter, see the Dec. 14, 2017 edition of The Ripon Commonwealth Press.