Topic: [2017-06-12] Raoul Pal: Bitcoin Is Mania And Not A Store of Value... I Sold-Out (Read 1947 times)
June 12, 2017, 12:03:45 PM
Bitcoin investor sells out then talks down the market.
June 12, 2017, 11:08:52 AM
Is he related to paypal somehow? I need to thank him, where can I find him to go down on him since he just saved my whole life savings? 
was the difficulty as high as now back then in 2013? if price fell then because there were no huge infrastructure in place and very well established like now, whatever makes him sleep at nights better.
was the difficulty as high as now back then in 2013? if price fell then because there were no huge infrastructure in place and very well established like now, whatever makes him sleep at nights better. June 12, 2017, 10:41:48 AM
He is often right with his calls. . /sarcasm
1.Raoul Pal: "2012 and 2013 Will Usher In The End"
http://www.distressedvolatility.com/2012/06/raoul-pal-2012-and-2013-will-usher-in.html?m=1
2. Big crash in a few days:
http://www.businessinsider.com/raoul-pal-2012-6
Turns out "the end" has been good and since the "big crash" call in 2010, the market has done the reverse.
Why listen to him? Sure there will no doubt be volatility, but the trajectory has been up.
. /sarcasm 1.Raoul Pal: "2012 and 2013 Will Usher In The End"
http://www.distressedvolatility.com/2012/06/raoul-pal-2012-and-2013-will-usher-in.html?m=1
2. Big crash in a few days:
http://www.businessinsider.com/raoul-pal-2012-6
Turns out "the end" has been good and since the "big crash" call in 2010, the market has done the reverse.
Why listen to him? Sure there will no doubt be volatility, but the trajectory has been up.
June 12, 2017, 09:36:47 AM
The price of Bitcoin has risen by 210% since March to over $2,900… and one of the world’s most successful investment strategists is warning investors to stay away.
Speaking at the Mauldin Economics’ Strategic Investment Conference, Raoul Pal—author and publisher of The Global Macro Investor, an elite macroeconomic and investment research service—said Bitcoin’s explosion upward is mania.
Bitcoin Is a Bubble
“The explosion [in the price of Bitcoin] is mania. It’s people looking for a rate of return. It’s in the bubble phase. [Bitcoin] goes through this periodically… it rises several hundred percent, and then collapses.”
In December 2013, Bitcoin ran up to over $900 and subsequently collapsed to below $250… it would take three years for the price to again reach those highs.
Exponential Moves Always Blow Up
Pal, speaking in an exclusive interview with Mauldin Economics, made ten-times his money on Bitcoin and thinks now is a good time to get out.
“This is the most exponential move we have seen. I don’t know how far it goes, but I sold out last week… and I’ve [owned Bitcoin] since it was $200. Anything that moves exponentially, always [blows up].”
However, Bitcoin’s meteoric rise isn’t the only reason The Global Macro Investor exited his position.
Only 21 Million Bitcoins? Not necessarily.
“Bitcoin was supposed to be a store of value, you couldn’t mess with the formula… and now they are talking about a ‘hard fork’ changing it?”
A feature that has attracted many investors to Bitcoin is its built-in scarcity. It’s widely thought that only 21-million Bitcoins can ever be ‘mined’ into existence.
However, senior developers and miners are now contemplating a ‘hard fork’ which would split Bitcoin in-two and allow for the creation of more Bitcoins.
“Even if they don’t change the formula, the fact that they could? That’s enough to say it’s not a long-term store of value.”
Pal says a recent development in India also changed his views on the crypto-currency.
https://www.forbes.com/sites/oliviergarret/2017/06/12/raoul-pal-bitcoin-is-mania-and-not-a-store-of-value-i-sold-out-last-week/#4da9604c65ad
Speaking at the Mauldin Economics’ Strategic Investment Conference, Raoul Pal—author and publisher of The Global Macro Investor, an elite macroeconomic and investment research service—said Bitcoin’s explosion upward is mania.
Bitcoin Is a Bubble
“The explosion [in the price of Bitcoin] is mania. It’s people looking for a rate of return. It’s in the bubble phase. [Bitcoin] goes through this periodically… it rises several hundred percent, and then collapses.”
In December 2013, Bitcoin ran up to over $900 and subsequently collapsed to below $250… it would take three years for the price to again reach those highs.
Exponential Moves Always Blow Up
Pal, speaking in an exclusive interview with Mauldin Economics, made ten-times his money on Bitcoin and thinks now is a good time to get out.
“This is the most exponential move we have seen. I don’t know how far it goes, but I sold out last week… and I’ve [owned Bitcoin] since it was $200. Anything that moves exponentially, always [blows up].”
However, Bitcoin’s meteoric rise isn’t the only reason The Global Macro Investor exited his position.
Only 21 Million Bitcoins? Not necessarily.
“Bitcoin was supposed to be a store of value, you couldn’t mess with the formula… and now they are talking about a ‘hard fork’ changing it?”
A feature that has attracted many investors to Bitcoin is its built-in scarcity. It’s widely thought that only 21-million Bitcoins can ever be ‘mined’ into existence.
However, senior developers and miners are now contemplating a ‘hard fork’ which would split Bitcoin in-two and allow for the creation of more Bitcoins.
“Even if they don’t change the formula, the fact that they could? That’s enough to say it’s not a long-term store of value.”
Pal says a recent development in India also changed his views on the crypto-currency.
https://www.forbes.com/sites/oliviergarret/2017/06/12/raoul-pal-bitcoin-is-mania-and-not-a-store-of-value-i-sold-out-last-week/#4da9604c65ad
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