There is just one thing that cryptocurrency bulls love hearing more than Dennis Gartman bashing bitcoin, and that is Whitney Tilson bashing bitcoin. The reason is the same: just like Gartman, Tilson has rarely if ever been right about anything -in fact, it is almost safe to say that he has been largely wrong about everything - with the added bonuses that unlike Gartman, Tilson has blown up not one but two "hedge funds" (which really were copycats of other hedge funds). 

So here is the good news: in his latest letter to... well, it's not clients as he no longer has those, so probably people who don't know they can unsubscribe from his spam mass mailings, Tilson writes: "I'm calling the top of the bitcoin/cryptocurrency madness." Naturally, the email was sent out when bitcoin was about $1,000 lower.

Here are Tilson's "arguments" for why the top of bitcoin is here... even if as he concedes, "bitcoin could go to $1 million" (how Whitney reconciles those two is anyone's guess).