I am bearish on Bitcoin. I find its structure to be inefficient. It will crash in the near future.

I am also bearish on the other crypto currencies as well. Here are my reasons:

a) Although some crypto currencies have a limited supply and may appreciate in price when demand exceed supply, other crypto currencies will be introduced. The market for all crypto currencies is unlimited, and uncontrolled. The supply will match demand. 

b) Although some crypto currencies can be used for transactions, they have to compete with the digital currencies introduced by national governments. Most people will trust the governments, rather than the decentralized currencies.

c) I do not like the concept of the blockchain which is used by Bitcoin and most other crypto currencies. I think that this concept is inefficient and flawed.

For the time being, there is still the hype that crypto currencies is the way to make a big profit. However, this may not last long. When Bitcoin crashes, the other crypto currencies will also lose favor.

This is my personal view. I will not invest in crypto currencies. It may appreciate in value for some time, as more people join the bandwagon.

But this also applies to all other types of bubbles. 

Tan Kin Lian