Famed Bitcoin Skeptic Warns of Incoming ‘Full Collapse’ — Angered Community Fires Back

Financial commentator Jacob King, a long-time Bitcoin critic, reignited controversy by claiming Bitcoin's value relies on a "gimmick" and predicting an eventual "full collapse." King argued that Bitcoin's 21 million token cap is not economically meaningful because the supply can technically be changed by network participants, and scarcity means nothing without demand. Bitcoin advocates swiftly countered, stating that altering the supply would require a divisive hard fork that users and miners would reject, as it would devalue their holdings. King dismissed critics as "brainless maxis" and further claimed Bitcoin was entering a multi-year bear market, suggesting current high prices were a chance to exit. In contrast, CCN analysts remained cautiously optimistic, noting that Bitcoin was gaining strength amid supportive macro conditions, though it still faced resistance near $98,000–$103,400.

(Source：CCN)