Bitcoin Forum

Hello everyone!

Almost every day, you can see an article of "Respected/old/experienced wall street/new your stock exchange expert/CEO/big boss warns about cryptocurrencies. Bitcoin will fall as it has had a parabolic gains. It will be 1000$ by the end of the year."

Those articles are everywhere. It is like every day, new experienced, respected wall street veteran is born, just to say something negative about blockchain/btc/crypto in general. So i would like to start a discussion. Do you think, they actually believe in those words, or do they miss the basic understanding of blockchain technology?

Quite some of them take the crypto market too much as other markets. There are more factors than in other markets, that is the first problem. Second one being, crypto market is totally irrational. Close to non normal technical analyses can be used, sure there are some similarities, but any whale can totaly destroy those indicators.

Next , those in power of strong belief in their word, might easily take advantage of this power and dump the price with negative article. They can easily buy loads of now discounted coins, knowing in fact, that crypto will revitalize.

Lastly, some of them do not understand what the blockchain technology and decentralization brings. Or they know it too well and they are scared. Doing anything in their power to destroy it.

So what is the biggest factor in your eyes? Are they being ingnorant, are they scared or are they after the profit?

1. Biggest patent holder in the US for blockchain technology - BankOfAmerica
2. JP Morgan/Goldman Sachs has cryptotrading subsidiaries
3. Whales control the market in crypto - yes, the are also market makers
4. Money is flowing out of Wall Street and into Mainstreet through crypto
5. Banks do not and cannot control money flow or crypto (this is their biggest concern and also their biggest loss of profit)

If you were a bank in charge of creating money, but now you are slowly losing the power to make money to crypto, wouldn't you say the same thing?

So you point is: Fear right? But at the same time, they are making big money out of crypto too right now. So combination of fear and income? But is that not contraproductive? They risk big depression by their FUD, which could lead to big loss if they are already involved in the crypto (and i know they are)...

The opinion isn't a consensus- I spend a lot of time in FiDi in NYC (and near Bank in London)- a lot of them individually see a lot of gains to it. But there are a number who are worried by Crypto- because it cuts them out entirely, especially trading desks who make their money gambling with their clients money and taking a % cut win, lose or draw. It's in their interest to talk down the market and hurt clients who 'didn't give them all their money' so they realise their lack of sophistication and give their account manager the money instead. What they're doing when they go and do the talking heads piece is something they are expressing forbidden doing with any other asset class- because of insider trading rules. But, Crypto isn't regulated, so it's a free for all for their darker instincts.

It's not really fear- it's trying to strangle a baby in it's crib, and worse, a lot of them are buying crypto on the side.

I don't think they are trying to strngle the bby. I think they re locking it in the cellar. The best way to limit the expnsion of Bitcoin is to own most of the coins. Why do you think the original coins have never been spent? They talk the price down, so that they can buy and hoard more coins.

Actually it's the other way around .The fact is they understand it better then us and they know that the monopoly that they hold in the large market's will be lost if they don't take back the control from us.Even if there policies or work is hurting the economy they will blame or give bs reason and never own up to it.These are the same people who have caused countless crashes if the market and now they are lecturing other how they know better and we should leave this matter to them.its like the pot calling the kettle black.