That’s a “make me a hero” prediction. If it happens he’s the big hero. If it doesn’t happen no one will remember he said it. If they do remember he can just say it might take a little longer do to bla bla bla.
Also the ones saying that do so in an effort to scare people away but if that were to happen I will not be scared I will be doing everything I can to get as much money possible and invest before bitcoin goes up, it will be incredible to be able to buy bitcoin at 1k everyone that lost that opportunity could have another chance to make money with those prices.
Topic: Bitcoin could loose 90% of its value (Read 817 times)
As you said, it could. I don't think it will happen. Millions and millions of dollars are invested in the cryptocurrencies world now, and the 'inexistent' value that bitcoin had now has materialized into these. Investors will never let bitcoin die.
And there are a large number of businesses running with bitcoin and more and more are coming to this field so it is confirmed that the use of bitcoin will be there and as it is confirmed that the use of bitcoin will be there so it is also confirmed that the users will increase with time which is the sign of the grow of bitcoin and this thing will let the investors to rush to this coin and sooner we will see a bigger boost in the price of bitcoin. By the way the investors are already aware of this and they have their money ready to invest in it and they are waiting for the fine time which has started today and now you will see within this week or in the next week the price of bitcoin will be at much higher price and it will not take much time like the previous time.
That’s a “make me a hero” prediction. If it happens he’s the big hero. If it doesn’t happen no one will remember he said it. If they do remember he can just say it might take a little longer do to bla bla bla.
Also the ones saying that do so in an effort to scare people away but if that were to happen I will not be scared I will be doing everything I can to get as much money possible and invest before bitcoin goes up, it will be incredible to be able to buy bitcoin at 1k everyone that lost that opportunity could have another chance to make money with those prices.
That’s a “make me a hero” prediction. If it happens he’s the big hero. If it doesn’t happen no one will remember he said it. If they do remember he can just say it might take a little longer do to bla bla bla.
I agree , people have been saying this since bitcoin got in the public eye. Not that it is or isn't true what he is saying just that he has no way to know if and when it happens.Think the main worry is the extreme volatility of Bitcoin which will eventually stop investors from investing
I thought it would be the other way around volatility = good for profits and loss, so will attract speculators
As you said, it could. I don't think it will happen. Millions and millions of dollars are invested in the cryptocurrencies world now, and the 'inexistent' value that bitcoin had now has materialized into these. Investors will never let bitcoin die.
Although you are right and investors will support BTC not to let it die, its price has dramatically decreased. Waiting for the pump.
His prediction of BTC dropping might be true, at 8500 , in cryto term it's not too far from the 3000 level he predicded.
I have heard facebook has announced to delete all advertising mail for crypto currencies. That put a heavy strain on the BTC price today.
But I think we have reached the bottom so slowly and the market value will rise again.
But I think we have reached the bottom so slowly and the market value will rise again.
As you said, it could. I don't think it will happen. Millions and millions of dollars are invested in the cryptocurrencies world now, and the 'inexistent' value that bitcoin had now has materialized into these. Investors will never let bitcoin die.
Wise investors may not let BTC die for now, but let's be honest, it's those same investors that are pushing the price down now, to buy low from weak hands.
But you NEED those new people for BTC to live. You need that larger mass (with less individual money), those will decide.
If you only count on "investors" who have trust in BTC, then the price will get back to what it was 6 months ago, before the boom (which was already an incredible value).
Keep in mind that for that mass who only wanna make money & doesn't give a shit about BTC, BTC doesn't look like the magical investment it was 4 months ago. Many ALTs have pumped 10x since then, while the BTC stagnated then dropped. What's your plan to restore confidence?
As you said, it could. I don't think it will happen. Millions and millions of dollars are invested in the cryptocurrencies world now, and the 'inexistent' value that bitcoin had now has materialized into these. Investors will never let bitcoin die.
That’s a “make me a hero” prediction. If it happens he’s the big hero. If it doesn’t happen no one will remember he said it. If they do remember he can just say it might take a little longer do to bla bla bla.
Also the ones saying that do so in an effort to scare people away but if that were to happen I will not be scared I will be doing everything I can to get as much money possible and invest before bitcoin goes up, it will be incredible to be able to buy bitcoin at 1k everyone that lost that opportunity could have another chance to make money with those prices.Ok, and once you've scared people away, you know, that massive amount of new people who just got in, why are you so sure that they will come back to make your BTC rise again?
..or are you counting on whales to do that? Whales don't do that, they profit, they don't lose. If this market has been sucked dry, they will move to something else.
For BTC to reach the price you're hoping for, you need new people. So don't think "idiots are gonna be scared away, I will get rich buying BTC at 1k". Without those same idiots, your BTC will stay at 1k. And I'm pretty sure that if it does get back to 1k, it's gonna stay there for a couple of years before it goes for another ride.
..or it will be forgotten. Because BTC has no real use other than being an investment, and potentially a money system. If it ends up being THE one, then it'll be massive. But people decide of that, you can't predict which currencies they are gonna choose. Just like gold, it has no real reason to have that value. Litecoin or whatever could end up being the chosen one, you don't know.
I would rather bet on crypto that have a use, or ICOs. There, if you make enough research, you can get an opinion on what is solid, what is likely to get used. And then the only (but still big) risk you take is a competitor taking over the one you have picked.
Well it's the .com happening again. Not every coin will go back to nothing, some will pass through the bubble pop, it's a matter of picking them wisely. But Bitcoin? The only value of Bitcoin is its fame, and the fact that it's the grandfather of them all, the one that tells the value of all others. But things go fast these days, perhaps by picking Bitcoin you picked MySpace, and perhaps the Facebook is already there in the top 10, or it hasn't been created yet.
It has been challenged several times. While BCash is a too obvious scam, ETH is a more logical choice. I can well imagine a flippening to ETH, I wouldn't find that absurd. Even though ETH might be MySpace & NEO Facebook, who knows..
But by picking BTC you pick a form of gold in its infancy. If you picked right, it's gonna be big. If not, another one is gonna be big, and BTC will be forgotten. But the technology, come on.. It's great that it was the first, and it will be forever be in history books, but that has nothing to do with its value. It's not a currency, no crypto is ATM, and no crypto will be until stability (& that takes years). That's why BTC doesn't even need a lightning network right now (other than to fight BCash, but it looks like BCash has already digged its own grave), because one would be stupid to use it as a currency. To pay a pizza with a coin that is likely to be worth 10x as much in a near future, that doesn't make sense. Right now it's gold, and if you believe that people are attracted by this amazing technology of a decentralized coin, well you're wrong. People are there for money, and purely for that. Or XRP's wouldn't have reached the top.
Personally, I value the concept of decentralized crypto, I really do. But I think it may be any. BTC+lightning network? Why not. I think it's important to separate the (gold-like) value which the BTC has, and the quick payment system, the lightning network, even though I'm pretty sure people will eventually use a Paypal-like system, for the simple reason that people, those who don't fraud/don't hide their money that is, want insurance, want their money to have their name on it, and someone to speak to in case of problem. That doesn't need to be a bank, it can be a Paypal-like frontend, taking fees in-between.
But really it can be any coin, I don't see what technical advantage the BTC has, it may be too rooted in your mind that BTC will be the chosen one, that it will reach 500k, etc. But again, remember MySpace. I didn't have a MySpace, I don't have a Facebook, I don't give a shit about those things, but it's the perfect example of something big that gets replaced pretty quickly & then gets forgotten.
I'm also a programmer, and if I was to be asked to create the ideal crypto system, I would naturally go for a system like IOTA's. It has been said many times that its code is poor and that it has serious flaws, that may well be true and I haven't checked the details. But I'm just saying, if I was to base my choice of technology, on full scalability, I'd go for a system like IOTA's, where it's people making transactions who also verify transactions, not miners. And I'm pretty sure it's how the chosen coin will work - but perhaps not initially, because, again, I don't think that the technology matters. People don't care about the technology, they don't know what goes behind a bank transfer, they don't need nor want to know, their trust is entirely based on other people's trust. The trust in Bitcoin could have gone exponentially, last month. But it didn't. It's still at the top, but newcomers have no realized that there were plenty of other coins. The trust seems to have spread to a few top coins now. You may see ETH getting at the top next month, and ETH-based pairs for every ALT in every exchange. Or maybe not, who knows? It's entirely a game of prediction, but a prediction of where people's trust will go, whether it's directed by technology (I doubt it), profit-making (obviously), guru-following (certainly), or straight manipulation (seems to have worked for BCash..).
And I'm not dissing BTC, it's still the biggest part in my portfolio. And it's the coin that will forever be in history books, that's for sure. I've just realized that the predicted mass adoption of crypto (I don't have much doubts about that) might not mean mass adoption of BTC. That required heavy word of mouth, and it has just happened, but it has happened so well that people are now aware that BTC isn't alone. BTC dominance is at its lowest. The top lists some technically good coins as well as some scams, proving that the world does not care. It's all about trust, you can't predict anything.
That’s a “make me a hero” prediction. If it happens he’s the big hero. If it doesn’t happen no one will remember he said it. If they do remember he can just say it might take a little longer do to bla bla bla.
Also the ones saying that do so in an effort to scare people away but if that were to happen I will not be scared I will be doing everything I can to get as much money possible and invest before bitcoin goes up, it will be incredible to be able to buy bitcoin at 1k everyone that lost that opportunity could have another chance to make money with those prices. In case it happens, I guess a lot of alt coins will also disappear from the market.
It sounds very odd. I do not think it will ever happen. we are all too deep in the world of crypto and in blockchain.We cannot predict anything in crypto world but yes there are possibilities for this much drop as well but again there are possibilities even if bitcoin drops by 90% which might happen if huge investors cash out but again it can go back to the level what it was before the drop just by looking in a big investor.as demand and supply plays a major role in value of bitcoin.
Wall Street veteran Peter Boockvar warns that Bitcoin could loose 90% of its value
Wall Street veteran Peter Boockvar predicts an epic crash will hit the cryptocurrency market.
He isn't sure if it'll come to a grinding halt or be a slow and steady drop — but he says it's coming.
Boockvar, chief investment officer at Bleakley Advisory Group, is certain crypto is in a giant bubble, and the air is already coming out.
"When something goes parabolic like this has, it typically ends up to where that parabola began," he said on CNBC's "Futures Now."
Boockvar, a CNBC contributor, contends bitcoin is in danger of dropping 90 percent from current levels. He calls it a classic bubble.
"I wouldn't be surprised if over the next year it's down to $1,000 to $3,000," he added.
Once the cryptocurrency market cracks, he contends, investor attitudes toward risk assets will change. According to Boockvar, the stock market could see collateral damage, but it would all be based on psychology — not on anything that's fundamentally wrong with the economy.
https://www.cnbc.com/2018/01/19/bitcoin-could-lose-90-percent-of-its-value-wall-st-veteran-boockvar-warns.html
Boockvar thank you for your view but I don't expect bitcoin to loose up to that value. I have been thinking that the current bearish market is about to be over. I think we should not follow most of this stocks traders' speculators as they are not always bring into consideration the fundamentals and technical fact about bitcoin and crypto currencies in particular. Wall Street veteran Peter Boockvar predicts an epic crash will hit the cryptocurrency market.
He isn't sure if it'll come to a grinding halt or be a slow and steady drop — but he says it's coming.
Boockvar, chief investment officer at Bleakley Advisory Group, is certain crypto is in a giant bubble, and the air is already coming out.
"When something goes parabolic like this has, it typically ends up to where that parabola began," he said on CNBC's "Futures Now."
Boockvar, a CNBC contributor, contends bitcoin is in danger of dropping 90 percent from current levels. He calls it a classic bubble.
"I wouldn't be surprised if over the next year it's down to $1,000 to $3,000," he added.
Once the cryptocurrency market cracks, he contends, investor attitudes toward risk assets will change. According to Boockvar, the stock market could see collateral damage, but it would all be based on psychology — not on anything that's fundamentally wrong with the economy.
https://www.cnbc.com/2018/01/19/bitcoin-could-lose-90-percent-of-its-value-wall-st-veteran-boockvar-warns.html
Wall Street veteran Peter Boockvar warns that Bitcoin could loose 90% of its value
Wall Street veteran Peter Boockvar predicts an epic crash will hit the cryptocurrency market.
He isn't sure if it'll come to a grinding halt or be a slow and steady drop — but he says it's coming.
Boockvar, chief investment officer at Bleakley Advisory Group, is certain crypto is in a giant bubble, and the air is already coming out.
"When something goes parabolic like this has, it typically ends up to where that parabola began," he said on CNBC's "Futures Now."
Boockvar, a CNBC contributor, contends bitcoin is in danger of dropping 90 percent from current levels. He calls it a classic bubble.
"I wouldn't be surprised if over the next year it's down to $1,000 to $3,000," he added.
Once the cryptocurrency market cracks, he contends, investor attitudes toward risk assets will change. According to Boockvar, the stock market could see collateral damage, but it would all be based on psychology — not on anything that's fundamentally wrong with the economy.
https://www.cnbc.com/2018/01/19/bitcoin-could-lose-90-percent-of-its-value-wall-st-veteran-boockvar-warns.html
Wall Street veteran Peter Boockvar predicts an epic crash will hit the cryptocurrency market.
He isn't sure if it'll come to a grinding halt or be a slow and steady drop — but he says it's coming.
Boockvar, chief investment officer at Bleakley Advisory Group, is certain crypto is in a giant bubble, and the air is already coming out.
"When something goes parabolic like this has, it typically ends up to where that parabola began," he said on CNBC's "Futures Now."
Boockvar, a CNBC contributor, contends bitcoin is in danger of dropping 90 percent from current levels. He calls it a classic bubble.
"I wouldn't be surprised if over the next year it's down to $1,000 to $3,000," he added.
Once the cryptocurrency market cracks, he contends, investor attitudes toward risk assets will change. According to Boockvar, the stock market could see collateral damage, but it would all be based on psychology — not on anything that's fundamentally wrong with the economy.
https://www.cnbc.com/2018/01/19/bitcoin-could-lose-90-percent-of-its-value-wall-st-veteran-boockvar-warns.html
Currently, negative assumptions have 'hit' bitcoin, in various media such as newspapers (both online and offline) to attack bitcoins. Fud has torn the bitcoin with (false) negative predictions as recently done by Tether.
But we must be heartened and be patient in facing this problem, we must hold on to our belief that bitcoin will not fall to 90%.
In case it happens, I guess a lot of alt coins will also disappear from the market.
It sounds very odd. I do not think it will ever happen. we are all too deep in the world of crypto and in blockchain.There is no way bitcoin dropping down that much and I am sure in about 3 Month's time bitcoin will reach a new level or at least reach 15k mark and to be honest this slump was never expected to happened as people were predicting bitcoin to reach 40k by the beginning of this year but still let's hope for a recovery.
Experts predicting the end of bitcoin is a lot. Such predictions appear every day. How many of them have worked so far? Besides, such a situation is indeed possible at least theoretically.
No one knows how much experts earn for such predictions. In this game, at stake are big money. The whales can buy all the experts and media. But for me it is not a reason to sell my coins. I don't believe anyone. Each of us has independently made its choice in favor of bitcoin. Why should we listen to the opinion of experts bought. 
In case it happens, I guess a lot of alt coins will also disappear from the market.
It sounds very odd. I do not think it will ever happen. we are all too deep in the world of crypto and in blockchain. 
Experts predicting the end of bitcoin is a lot. Such predictions appear every day. How many of them have worked so far? Besides, such a situation is indeed possible at least theoretically.
I think what he doesn't understand is that the main thing underpinning bitcoin at the moment is that it isn't correlated with other assets.
Witness the bond market sell off in recent days. Witness the nervousness that stocks will fall as the Fed hikes interest rates.
Over the last year you had loads of assets moving in concert, which is a nightmare for hedge funds because the whole point of them is that they hold uncorrelated assets. Hence the interest in bitcoin.
Yes, a wall street veteran does not need to be accurate with crypto currency predictions. Because those people are got practiced only with how traditional share market is trading whereas crypto currencies are gaining its value from the faith of people who are speculating the advantages and benefits. So, crypto currencies are exceptional and they cannot be analyzed in a similar way how shares and forex markets are being analyzed.Witness the bond market sell off in recent days. Witness the nervousness that stocks will fall as the Fed hikes interest rates.
Over the last year you had loads of assets moving in concert, which is a nightmare for hedge funds because the whole point of them is that they hold uncorrelated assets. Hence the interest in bitcoin.
In the past many veterans have found their failures in predicting the future of bitcoin, Warrent Buffet must be one of them. So we must move on this news as this will not impact into bitcoin's future in any ways.
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