[2022-07-11] Bloomberg UK - Bitcoin Is More Likely to Hit $10,000 Than $30,000 - page 2.

ultrloa

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Quote from: pawel7777 on July 12, 2022, 11:42:16 AM

Bitcoin Is More Likely to Hit $10,000 Than $30,000, Survey Finds

source: https://www.bloomberg.com/news/articles/2022-07-10/bitcoin-faces-another-50-drop-wall-street-says-mliv-pulse

Quote from: https://www.bloomberg.com/news/articles/2022-07-10/bitcoin-faces-another-50-drop-wall-street-says-mliv-pulse

Bitcoin bulls beware: Wall Street expects the cryptocurrency’s crash to get a whole lot worse.

The token is more likely to tumble to $10,000, cutting its value roughly in half, than it is to rally back to $30,000, according to 60% of the 950 investors who responded to the latest MLIV Pulse survey. Forty percent saw it going the other way. Bitcoin fell 2.4% to $20,474 on Monday morning in New York
...
The lopsided prediction underscores how bearish investors have become. The crypto industry has been rocked by troubled lenders, collapsed currencies, and an end to the easy money policies of the pandemic that fueled a speculative frenzy in financial markets. .

EDIT: this thread was posted in Press board, no idea why it has been moved to Speculation.

They cannot tell the exact market scenario and maybe they just base their prediction on the current happenings together with sentiments of the people. So I guess its still good to do our own research and never believe any such thing until you see it happening. But we need to prepare if that time to happen since I guess that would be a perfect time to take long position since for sure pump will follow.

Wilhelm

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And they've also been saying Bitcoin is worth 400k a while ago.

All these big names in the traditional world have no credentials in the crypto world.

Oshosondy

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I do not have to care if bitcoin will hit $10000 or not, but I think bitcoin can not be that low. The price of bitcoin has decreased from $69000 to $20000, that is a huge drop. There is nothing bad to start using dollar cost average to invest in bitcoin. This is bear time, it is normal that some analysts will only want to create panic and overestimate just like when some analysts created fomo during bull market by saying bitcoin will hit $100k, but which actually didn't happen.

NeuroticFish

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Simple math tells that in the previous cycles the price has fallen
* from ~1170 ATH to ~150 bottom. 7.8 times
* from ~19900 ATH to ~3100 bottom. 6.42 times

This makes numbers like 8846 or 10750 look possible.
On the other hand, let's go linear: 7.8 - 6.42 = 1.38; 6.42 - 1.38 = 5.04 => (69000 / 5.04) 13690 looks more possible than the other variants.

This is all. Will history repeat itself this predictable? I doubt it. But it makes greatly scary news.
Also, can somebody tell those... journalists... that Bitcoin is a cryptocurrency, a coin, not a token?

Poker Player

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And what is Bloomberg UK's credibility on the subject? After seeing so many failed predictions by so many experts I almost better wait for a monkey throwing darts at a dartboard to get it right if it's going to be $30k or $10k.

I like to speculate on price because it is a way of trying to guess the unguessable, although sometimes you can get close, but Bloomgerg's prediction saying what is most "likely" is like saying nothing at all.

pawel7777

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Bitcoin Is More Likely to Hit $10,000 Than $30,000, Survey Finds

source: https://www.bloomberg.com/news/articles/2022-07-10/bitcoin-faces-another-50-drop-wall-street-says-mliv-pulse

Quote from: https://www.bloomberg.com/news/articles/2022-07-10/bitcoin-faces-another-50-drop-wall-street-says-mliv-pulse

Bitcoin bulls beware: Wall Street expects the cryptocurrency’s crash to get a whole lot worse.

The token is more likely to tumble to $10,000, cutting its value roughly in half, than it is to rally back to $30,000, according to 60% of the 950 investors who responded to the latest MLIV Pulse survey. Forty percent saw it going the other way. Bitcoin fell 2.4% to $20,474 on Monday morning in New York
...
The lopsided prediction underscores how bearish investors have become. The crypto industry has been rocked by troubled lenders, collapsed currencies, and an end to the easy money policies of the pandemic that fueled a speculative frenzy in financial markets. .

EDIT: this thread was posted in Press board, no idea why it has been moved to Speculation.

Topic: [2022-07-11] Bloomberg UK - Bitcoin Is More Likely to Hit $10,000 Than $30,000 - page 2. (Read 247 times)