Over the last seven months, we have witnessed a cryptocurrency collapse that is so epic that it is truly difficult to put it into words. Last November, the total market capitalization for all cryptocurrencies crossed the three trillion dollar mark. This week, the total market capitalization for all cryptocurrencies actually dipped below one trillion dollars. In other words, approximately two-thirds of the value of all cryptocurrencies has already been wiped out. Some are calling this a “crash”, but the truth is that this is the sort of full-blown “collapse” that so many have been warning about for such a long time. A lot of crypto investors are now deeply in the red, and the outlook for the months ahead is very bleak.
Back on November 8th, Bitcoin was selling for more than $67,000. If you sold your Bitcoin at that moment, I salute you.
On Tuesday, the price of Bitcoin actually dropped below $21,000 for a short period of time…
Bitcoin briefly fell below $21,000 on Tuesday in Asia before bouncing back slightly, continuing its plunge as investors sold off risk assets.
The world’s largest cryptocurrency was down around 7% and trading at $22,531.22 at around 05:13 a.m. ET, according to Coindesk data. Bitcoin is trading at its lowest level since late 2020. Other digital coins including ether tumbled were also sharply lower.
As I write this article, the price of Bitcoin is hovering around $22,240.
At this point, Bitcoin has plunged more than two-thirds from the all-time high that was set last November.
Will it eventually bounce back?
The optimists certainly hope so, but the race for the exits only seems to be accelerating. In fact, cryptocurrencies have lost 200 billion dollars in value just since Saturday…
The market capitalization for cryptocurrencies slipped below $1 trillion on Monday for the first time since February 2021, data from CoinMarketCap showed. Around $200 billion has been wiped off the market since Saturday.
Overall, the total value of all cryptocurrencies has declined by more than 2.1 trillion dollars since November 8th.
Needless to say, some of the most prominent “crypto billionaires” in the world have been absolutely monkey-hammered.
For example, Changpeng Zhao was worth 95.8 billion dollars on paper on November 9th.
Today, his fortune is valued at just 10.2 billion dollars…
Changpeng Zhao, 44, the founder of Binance, has now seen his personal fortune – once the world’s 11th largest, fall 89 percent to $10.2 billion, and Sam Bankman-Fried, the 30-year-old CEO of crypto trading platform FTX, has seen his fortune decline 66 percent since it peaked at $26 billion, according to Bloomberg.
How would you feel if you lost 85.6 billion dollars?
But don’t feel too sorry for him. He can still walk away with 10 billion dollars if he sells everything now.
Coinbase founders Brian Armstrong and Fred Ehrsam have also seen their fortunes shrivel up at a very frightening pace…
And Coinbase Global founders Brian Armstrong, 39, and Fred Ehrsam, 34 – who were once worth a combined $18.1 billion have seen their fortunes shrink to just $2.1 billion each, as shares of their company – the largest U.S. crypto exchange – fell 79 percent.
On Tuesday, Coinbase announced that they will be laying off 18 percent of their workers.
If they truly believed that cryptos would soon bounce back, they would not be making such a move.
In a blog post detailing why the company has to lay off so many people, Armstrong explained that he believes that we are “entering a recession”…
After extending a hiring pause and rescinding some accepted job offers, Coinbase says it will lay off approximately 1,100 employees, or 18% of its global workforce, as the company braces for a potential recession and “crypto winter.”
“We appear to be entering a recession after a 10+ year economic boom,” Coinbase CEO Brian Armstrong wrote in a blog post on Tuesday. “A recession could lead to another crypto winter, and could last for an extended period. In past crypto winters, trading revenue (our largest revenue source) has declined significantly. While it’s hard to predict the economy or the markets, we always plan for the worst so we can operate the business through any environment.”
Sadly, he is quite right.
We are definitely entering a recession, and it is going to be extremely painful.
Of course there are others in the crypto community that are not willing to give up their optimism. For example, the Winklevoss twins were recently spotted belting out a stirring rendition of an old Journey classic even as the value of their holdings continued to fall…
A video of the Winklevoss twins singing Journey’s hit song ‘Don’t Stop Believin’ has gone viral as the siblings lose billions of dollars amid a cryptocurrency market crash and have been forced to lay off a whopping 10 percent of the staff at their startup.
The video, posted to Twitter by user Arch Nem on Thursday, shows Tyler singing the hit song off-key at the Wonder Bar in Asbury Park, New Jersey – where Bruce Springsteen launched his career – while Cameron played an electric guitar.
Of course if they actually believed that the future is bright for cryptos they would not be laying off a significant chunk of their employees.
If we could actually use cryptocurrencies to buy the things that we need on a daily basis, they would be far less volatile. But national governments around the globe will never allow that to happen.
Up to this point, the primary draw for most cryptos has been the fact that many investors were convinced that they would appreciate in price. A lot of people wanted to get rich quick, and there are some that actually did.
But ultimately cryptocurrencies do not possess any intrinsic value. I really like how Mike Adams recently made this point…
You can’t create real wealth by programming computers to burn electricity to solve complex mathematical problems that are presented as obstacles merely to “demonstrate work.” This does not grow food, create steel, provide labor, mine minerals, transport gas or perform any other useful real-world function. It merely burns electricity and allows a few people for a temporary period of time to pretend like they are billionaires because they have shared ledger spreadsheets containing larger and larger numbers.
If you were able to make a lot of money before the crypto market finally collapsed, I think that is great.
Unfortunately, a lot of investors are now deeply in the red.
As I have reminded my readers over and over again, you only make money in the financial markets if you get out in time.
Nothing in the financial world lasts forever.
The crypto apocalypse is here, and it certainly won’t be the last “apocalypse” that Wall Street experiences.
***It is finally here! Michael’s new book entitled “7 Year Apocalypse” is now available in paperback and for the Kindle on Amazon.***
Image by mohamed Hassan from Pixabay. Article cross-posted from End of the American Dream.
Two Storms, One Harvest
Every food crisis in living memory has been a one-shock event. The 2008 price spike was a commodity bubble. The 2020 shortages were a logistics failure. The 2022 grain scare was a war on one exporter’s ports. Each time, the system bent, adjusted, and recovered, and each time the experts assured us afterward that global markets are simply too big and too diversified to fail.
What nobody in Washington seems eager to discuss is that 2026 is shaping up to be something the modern food system has never actually faced. Two independent shocks, one climatic and one geopolitical, are converging on the same harvest cycle at the same time. Not sequentially. Simultaneously.
Start with the weather. The Pacific Ocean is currently building toward what forecasters now openly call a record event. NOAA’s Climate Prediction Center puts the odds of at least a strong El Niño near 88 percent, with roughly two in three odds it reaches “very strong” status, the tier reserved for perhaps three or four events in the entire satellite era. Every major global model now projects a median peak in Super El Niño territory, and most of them project it exceeding the 2015-16 event, which until now held the modern record. Sea surface anomalies were already brushing the super threshold in mid-July, months before these events normally peak. The atmosphere has already shifted into El Niño mode, and the event is forecast to crest in late fall and early winter.
This is not about “climate change.” It’s about the standard cycles of weather, and the cycle we’re currently in is one that has likely devastated societies in the past. We’re better prepared as a society today, but not all Americans are equally prepared.
Serious households have started doing the quiet math on their own. Grocery bills tell part of the story, and the forecast maps tell the rest, which is why long-term food storage has moved from fringe hobby to mainstream line item in the family budget, with established suppliers like Heaven’s Harvest seeing demand from people who five years ago would have rolled their eyes at the idea. That instinct is not paranoia. It is pattern recognition, and the pattern is worth walking through carefully.
Editor’s Note: Heaven’s Harvest IS a sponsor, but the warnings of this article are real and would be written even if we didn’t have a survival food sponsor. With that said, those who take advantage of what they offer can use promo code “Patriot” for 15% off.
The Fertilizer Clock Is Already Running
While the Pacific warms, the second shock has been unfolding in the Strait of Hormuz. The conflict with Iran turned the world’s most important energy chokepoint into a contested waterway, and the consequences reach far beyond the gas pump. Roughly a third of global fertilizer trade moves through Hormuz, and the disruption sent urea prices up 86 percent year over year by March, with a 53 percent jump in a single month.
The World Bank projects energy prices rising about 24 percent in 2026 and fertilizer about 31 percent. By its own accounting, fertilizer prices ran 35 percent higher in the first five months of this year than the same period last year.
Here is the mechanism the nightly news will not explain. Fertilizer is not a grocery item. It is a time-delayed input. The nitrogen a farmer in Iowa or Punjab could not afford to apply this spring does not show up as a problem this spring. It shows up as a thinner harvest six to twelve months later.
The World Bank’s own food security brief concedes that the effects of reduced applications earlier this season “are likely to become visible only later in harvest outcomes.” Translate that from institutional language into plain English and it means this. The damage is already done, it is already in the ground, and we are simply waiting for it to arrive on the shelf.
Now check the calendar. Six to twelve months from the spring planting season lands us squarely in late 2026 and early 2027. Which is precisely when the strongest El Niño in the instrumental record is forecast to peak, bringing its signature droughts to Southeast Asia, Australia, southern Africa, northern Brazil, and South Asia, the very regions that grow the world’s rice, sugar, and oilseeds.
The World Bank warns openly that a strong El Niño “could disrupt multiple crop belts simultaneously” on top of the conflict-driven input costs. Their baseline projection assumes the Middle East disruptions ease by autumn. What in the last two years of Middle East history suggests that assumption is safe?
The System Has No Slack Left
The comfortable answer is that global markets always adjust. But adjustment requires slack, and the slack is gone. Global cereal production is expected to decline from last year’s records even before El Niño does its work. The UN World Food Programme, hardly a den of right-wing preppers, is calling this the most significant disruption to its supply chains since Covid and the invasion of Ukraine, and its supply chain director put the stakes bluntly.
Today’s supply chain challenges are tomorrow’s hunger crisis.
There is also a political dimension that markets cannot price. When food gets scarce, governments do not behave like economists. They behave like politicians. Export bans, hoarding mandates, and panic buying at the national level turned the modest rice shortfall of 2008 into a global crisis, and analysts are already warning that import-dependent nations are the first dominoes.
The 2015-16 Super El Niño, a far weaker event than what is now forecast, threw tens of millions into food stress across Africa and Asia. This one is projected to be stronger, and it arrives with fertilizer already rationed by price and shipping lanes already contested by missiles.
What Joseph Knew
Scripture does not treat preparation for lean years as faithlessness. It treats it as wisdom delivered in advance to those willing to act on it.
Behold, there come seven years of great plenty throughout all the land of Egypt: And there shall arise after them seven years of famine; and all the plenty shall be forgotten in the land of Egypt.
Joseph did not respond to that warning with a hashtag or a committee. He stored grain during the years of abundance, and when the famine came, Egypt stood while its neighbors begged. The lesson is not that famine is certain. It is that the time to prepare is precisely when preparation still looks optional.
Nobody who filled a pantry in a year of plenty has ever regretted it, and nobody standing in an empty aisle has ever been glad he waited for certainty.
None of this calls for panic, and panic is the enemy of sound judgment anyway. It calls for the same unglamorous prudence our grandparents considered ordinary. Keep some cash margin, know your local growers, and put real food in deep storage while it is cheap and available, because the entire arc of this story is that cheap and available is a closing window.
Families looking for a straightforward place to start can visit Heaven’s Harvest and use promo code Patriot for 15 percent off long-term storable food. The forecasts may yet soften, the strait may yet reopen, and we should pray they do. But hope is a fine thing to hold and a foolish thing to eat.





