Bitcoin Breaches $34,000 as Rally Extends into New Year
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Re: Bitcoin Breaches $34,000 as Rally Extends into New Year
#2> Bitcoin should eventually climb to about about $400,000, Scott Minerd, chief investment officer of Guggenheim Investments, told Bloomberg Television in a Dec. 16 interview
Wild speculation if you ask me. I don't think anyone can predict where the price is going. These same guys were saying $50k in 2017.
Re: Bitcoin Breaches $34,000 as Rally Extends into New Year
#3Unless one has the ability to manipulate the market, I can't see how it's possible to separate actual potential from hype, scams, and other unreliable info.
Every year there's press about someone saying this will be the year bitcoin breaks 100k. Perhaps eventually that will be true, or perhaps it never will.
So if you have just so much money you're having trouble spreading it out across different types of assets, I can't see why people would buy bitcoin. (It is convenient for some transactions, but as an investment it seems more foolish now than ever in the past.)
Re: Bitcoin Breaches $34,000 as Rally Extends into New Year
#4> Bitcoin should eventually climb to about about $400,000, Scott Minerd, chief investment officer of Guggenheim Investments, told Bloomberg Television in a Dec. 16 interview Wild speculation if you ask me. I don't think anyone can predict where the price is going. These same guys were saying $50k in 2017.
I don't think anyone with any credibility says things like this unless they are either capable of manipulating the price (or know someone who is, and who will), or unless they are trying to hype it for short term gain.
Re: Bitcoin Breaches $34,000 as Rally Extends into New Year
#5> Bitcoin should eventually climb to about about $400,000, Scott Minerd, chief investment officer of Guggenheim Investments, told Bloomberg Television in a Dec. 16 interview Wild speculation if you ask me. I don't think anyone can predict where the price is going. These same guys were saying $50k in 2017.
I don't think anyone with any credibility says things like this unless they are either capable of manipulating the price (or know someone who is, and who will), or unless they are trying to hype it for short term gain.
But some people proably ARE manipulating the price. Who are they ?
Re: Bitcoin Breaches $34,000 as Rally Extends into New Year
#6> Bitcoin should eventually climb to about about $400,000, Scott Minerd, chief investment officer of Guggenheim Investments, told Bloomberg Television in a Dec. 16 interview Wild speculation if you ask me. I don't think anyone can predict where the price is going. These same guys were saying $50k in 2017.
If organizations like Bloomberg are going to quote people's price predictions, they should have a way of tracking the accuracy of people's past predictions. Otherwise, this is just noise: of course people holding an instrument want you to believe it will go up. (This isn't crypto-specific; the same applies to equities etc.)
Re: Bitcoin Breaches $34,000 as Rally Extends into New Year
#7Earlier quoted context omitted.
I don't think anyone with any credibility says things like this unless they are either capable of manipulating the price (or know someone who is, and who will), or unless they are trying to hype it for short term gain.
But some people proably ARE manipulating the price. Who are they ?
Tether.
Re: Bitcoin Breaches $34,000 as Rally Extends into New Year
#8I know Bitcoin is all a hype, but isn’t so anything else? At least for me I can go through the paper and the source code and understand exactly how it works and what its implication are. With other systems this is either simply not available (banking systems) or its too complicated to understand.
Sure it’s hype, but so is fashion, entertainment, art, etc. and we all live off these things.
Re: Bitcoin Breaches $34,000 as Rally Extends into New Year
#9Bitcoin's price has become a self fulfilling prophecy at this point. There have been so many stories about it hitting 100'000, 50'000, even 500'000, that these current prices seem "low" in comparison. i.e. the voluminous news stories hyping up the price have psychologically anchored a high value bitcoin in many investor's minds.
Also, there is a major, major element of FOMO happening here. People are home, isolated, bored, reading more news, and reading of "Bitcoin Millionaires" etc, and of course, they want in on that action too. It's not dissimilar to what's happening with Tesla.
Re: Bitcoin Breaches $34,000 as Rally Extends into New Year
#10I know Bitcoin is all a hype, but isn’t so anything else? At least for me I can go through the paper and the source code and understand exactly how it works and what its implication are. With other systems this is either simply not available (banking systems) or its too complicated to understand. Sure it’s hype, but so is fashion, entertainment, art, etc. and we all live off these things.
I don’t think I see the parallel here. Why compare it to fashion or entertainment rather than to currencies or securities or commodities?