Topic: Bitcoin will plummet to $10 by first half of 2014 - page 18. (Read 50102 times)

How about this?

I predict that we will hit $10,000 before we hit $10.

He corrected his date to 2140. That buys him over one hundred years before proven wrong.

Has the op said he ment 2015 yet?

by Victor Kerezov

Mark Williams, a risk management and capital markets professor at Boston University, is out with a bold call – he predicts that the price of one bitcoin will crash to $10 or even lower by the first half of 2014.
Williams is a risk management practitioner and academic with tw-decades of experience from working as a bank examiner at the US Federal Reserve to a commodities trading floor senior executive.
The finance professor observes that the buying and selling of the digital currency is “controlled by only a handful of exchanges in places like China, Slovenia and Bulgaria.” Exchange bankruptcies are not uncommon for the roller-coaster bitcoin market. In addition, the exchanges are based on a peer-to-peer model and regulation is virtually absent.
Bitcoin “has not been bear-market tested and if enough sellers try to run for the door it is not clear that existing infrastructure is capable of executing trade orders without significant time delays and price risk,” clarifies the former commodities trader.
Some bitcoin aficionados claim that the digital currency would replace the US dollar as the new global reserve currency, while others believe the digital form of money would provide a cheaper alternative to expensive payment platforms such as Western Union. “Adding more helium to the story, the Winklevoss twins of Facebook fame, not being shy about talking up their own book, predicted prices would rise to a staggering $40,000 per coin”, notes Williams
At the start of this month, bitcoin peaked at over $1,200 as “e-currency evangelists trumpeted the endless possibilities to be unleashed”. However, the price more than halved since then as the ‘Chinese regulatory pin’ burst the hyper bubble. In the view of the risk management expert, “the market has finally realized that hype alone cannot support lofty prices”.
Mark Williams then goes on to say that every asset bubble has three phases: “growth, maturity and pop”. He believes that 2013 was the maturity stage and we are now entering the time when the bubble pops. “Ironically, China, the second largest economy in the world, helped push Bitcoin prices to the clouds and now is pulling prices back to earth,” observes the former Fed bank examiner. In the last two weeks, the People’s Bank of China banned local banks from accepting the digital currency and then forbade third-party firms from transacting with bitcoin exchanges. In between the two announcement, Baidu, China’s Google equivalent, announced it would no longer accept bitcoins. Other major central banks and banking watch-dogs have taken a similar position like the PBoC, warning against the risks of the e-currency.

Williams then goes to proclaim that “if bitcoin was allowed to proliferate as a currency it would produce greater economic uncertainty, reduced trade and lower individual standard of living.” Retailers typically work on tight margins and the immense volatility of the e-currency could eliminate all their profit or even result in losses. In this bitcoin world of uncertainty and risk, commerce would ultimately decline and stone-age bartering would increase. “Naturally, as bitcoin price swings increased, the number of businesses willing to accept e-currency risk would decline”, assumes the former commodities trader.
“Bitcoin is not a legitimate currency but simply a risky virtual commodity bet”, argues the academic at Boston University. Even Winklevii’s call that it is a commodity currency may be unfounded because the wannabe currency does not have a tangible value like gold, which is a widely accepted alternative form of money.
Bitcoin is just backed by dreams and it is “only worth what people are willing to pay”, opines the former Fed bank examiner. “As it becomes increasingly evident that Bitcoin will not be the global currency standard, but simply a novel idea that will be improved upon by more nimble competitors such as Litecoin, restrictions and new regulations will be imposed and prices will plummet.”
“I predict that Bitcoin will trade for under $10 a share by the first half of 2014, single digit pricing reflecting its option value as a pure commodity play”, concludes Mark Williams.

http://invezz.com/news/forex/7726-bitcoin-usd-will-plummet-to-dollar-10-by-first-half-of-2014-predicts-risk-management-expert

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Bitcoin's price have fly to moon

Congratulation!

if BTC down to ... empire level ...

https://www.youtube.com/watch?v=yys5iioLUNw

I will buy a solar miner,

Well probably not to ten dollars think we are in the recovery standby stage again

It’s not over yet, there could be a great buy opportunity if you wait until the end of June. 

My 2nd quarter just ended, YOU LOSE SIR.

There's a Professor Bitcorn website that is counting down to the 30th June 2014 with the current BTC price displayed. I guess that there is still plenty of time, but $10 is ludicrous, that's like a 127 mill market cap.

I've not read the article, but perhaps the meaning of the prediction is generally that Bitcoin will drop drastically, which so far it has dropped significantly but I can't see it sustaining a price less than $100, what would it actually take to drop it to that level. Winklevai/other massive bag holder bank run?

No I just don't see that happening.  If it does I'll be sure to post up here how wrong I was and how right you were.  But know I just don't see that happening either.

Come with a low point. And here I am waiting for my fiat to be transferred while watching it bounce back to $500. Can't win 'em all...

This is the funniest post ever.

Good luck with this prediction. Let's keep it going so I can go back to the post easily and laugh.

It can go worse with more bans and if you had a technical problem or 2 and the shut down of a few big bitcoin websites the price would go a lot lower BUT when the banks fail and people lose faith in their fiat currency and their banking system we may look at a HUGE spike in price; I don't know if we will get banks failure before we get bad news, that is for you to decide

There are not that many btc in circulation. Most coins will be bought if price hits 200

US: AML laws to make people scared of Bitcoin ATMs, making them think that all the identification needed will steal their identity.
China: Scare the wits out of people by spreading rumors of banning bitcoin.
EU: Just wait.

Of course banks are going to ban bitcoin exchanges, it's a rising and growing competitor. I like how we can buy what we want with bitcoin

Bitcoin died in 2011 when it fell almost 2000% to under $2. This is a 15% drop, wake me when it gets near $10.

Bitcoin dies today.

Check BTC-E....

Btc will not survive, offcourse everyone will remember the value of bitcoin, but more and more governments will ban bitcoin and shutdown the transaction betwee their national banks as Australia did now.

Open your eyes guys, Btc has lost , the world leaders always win, didn't you know that ?

Even if there are ATM's in each country, and company's acception BTC, it's not enough to keep the value up.


So it will never become what everyone thought it would be.