Bitcoin Forum

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

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.

I agree with you if he is right about his prediction he is a hero but if not going to happen then he is just a waste.
Also no one can predict bitcoin value if it is going to decrease or increase and no one can control the price of bitcoin. The funny thing about it he already predicted the price of bitcoin withouth any basis so its just a word came from mouth and nothing gonna happen.

Think the main worry is the extreme volatility of Bitcoin which will eventually stop investors from investing

A bold prediction, just as many have come out and said that bitcoin can go to 100k in this year alone. I'm not too worried. Often times, especially with crypto, people end up giving a lot of their opinions. If you're famous enough, all it takes is 1 correct prediction to ignore all the wrong ones. People keep shooting their shots. It takes one to kill.

The issue is that people so often forget that bitcoin and all crypto is meant to be volatile due to the lack of backing. They think it's just a get rich quick with no downsides. If people actually started to be smart with their money, they wouldn't be as surprised with these bold predictions.  

I don't see how that will be possible giving the recognition the Crypto currency 💱 is gaining all over the world, the future is digital and I only see bitcoin increasing.

Drop to 90%. I never read news from such people who anti-Bitcoin.

Obviously, when his prediction doesn't work then he will say the reason bla bla bla. We already know Bitcoin has a volatile nature, price dependence is based on demand-supply market. With making like this Fud news, they wants to create panic in the market.

Already it has lost more than 50%, if the same continues surely it is really hard to retain. The complications with the growth and adoption will increase when governments take it in their control. So, such a drastic loss in value should not take place at any instant, rather than growing.

I think this is what he means. Very seldom do shares loose so much value so quickly and if Bitcoin can not control its extreme volatility the investors will end up not trusting it and will stop investing in it which will cause the price to fall which would be a good thing because then we could use it for what it was meant to be used for ...A currency... not a get rich quick scheme  and thats if they ever bloody sort out the high fees and stuffed up delays in the network

A Wall Street "veteran" says that bitcoin could lose that percentage of it's value? Bitcoin is starting to shake their market so usually a competitor will tell others negative things about them. Remember on how the other Wall Street folks said about bitcoin. Ask Jordan Belfort on what he said about bitcoin before but many didn't bought on that, they are clearly stating FUDs that will affect small traders and pushing them to get out of the market. This Wall Street force is doing everything they can to spread their opinion to discourage bitcoin investors, what a shame.

It is true bitcoins can loose it value of 90% because of government from Asia recent attack on bitcoins. Holders of bitcoins are quickly selling their bitcoins cheap so that it can't become obsolete after government take full action on traders.

A lot of countries are trying to regulate it atm not just Asia

Regulators in the U.S., Singapore, Japan and China are looking into regulatory measures to control the growth in digital tokens. there was also talk from Great Britian (UK Treasury is planning tighter regulation of Bitcoin, hoping to prevent the likes of money laundering and terrorism being paid for with cryptocurrency. ... Treasury said it intends to regulate the digital currency to bring it in line with anti-money laundering and counter-terrorism financial legislation.)

He is only scaring people to get the price to go down so he can buy low.  I bet he'll prop it up in a month or 2...  After he gets the  BTC in his portfolio.

These are not all good news that are currently reaching us. There is a lot of global sentiment against the crypto currencies. This is bad.
When confidence goes down, so do the courses.

It is just a prediction and opinion to cause a shake in the market, and when prices fall in people panic selling and put together big investors will buy bitcoin to get big whales.

We know the FUD's has participated a lot in the market price, we know a big names/government want to regulate cryptocurrencies and it will greatly affect the market as an example the recent Korean ban. I believe it's not the one we are looking for. Bitcoin is built to be decentralized not affected by any centralized agencies. But the truth is many people still affected by 'centralized economies'.

Really?90% but in my eyes 90% just 10 times will back to100% one year happened in 2017 for bitcoin, from $2000-$20000 it is real happened just keep your coin.
Another topic is in my eyes Blockchain is more important than encryption coin. Encryption coin is just one kind of use for Blockchain, so i investment is not future of bitcoin, it is the future of Blockchain

If it happens it would be the level I would go in.

When more regulators come to regulate bitcoin then price might fall because people are likely restricted to buy. Thus, demand drops! Bitcoin as decentralized asset, time by time will be centralized because of regulations.

However, bitcoin price drops atm because market in asia where investor need to liquidate their asset due to chinese new year. IMHO, maybe I am wrong

If I have a dollar for everytime someone say that bitcoin will loose its value I would be rich right now. Many times these critics said that already but look at where bitcoin is now still going strong.

This is the same as someone predicting that the price will be 100,000 in 2018.  Truth is no one knows.  BTC could help itself by fixing its transaction fees and transaction time issues.  Once that is fixed the obstacles are adoption and surviving through government regulations.  More and more regulations are coming. 

Yep regulations are creeping in from all different countries now. Crypto will never really be decentralized as it is so fixed to Fiat money

If people cant sell it for Fiat money it becomes worthless

Well again its just a pridiction there are also experts that predicts the bitcoin price will sky rocket. The only best thing we could do right now is hold and wait. Always set your cut loss so if the worst thing happen were ready. 

famous people keep againts bitcoin and said negatively about bitcoin. i'm sure someone pay them or themself want to buy his own bitcoin with low price

I stopped reading after "Wall Street veteran".
Such statements shouldn't be taken seriously, not only because it comes from someone in Wall Street, someone who has no idea how the cryptocurrency market works, someone who is clearly trying to shake up the market, as well as trying to scare people off from Bitcoin, but because it is such an extreme view on the crypto market, it really makes no sensen at all.

Also, this "wall street veteran" only uses the word "bubble" to back up his predictions, how many times have we read the same old story? overall, this guy was probably forced to say this bullcrap to try to push the price down so that his wall street friends can buy the dip.

Oh, and what a surprise, the news comes from CNBC, one of the leading news networks when it comes to spreading clickbait FUD articles 24/7 about Bitcoin.

I totally agree to what he say bitcoin will lose 90% of its value, if you take a deeper look there are many different upcoming coins with better technology and stuff which will make bitcoin obsolete in the long run... the only few advantages to make it standing is some merchants only choose to accept bitcoin and this make them still in popularity and when bitcoin is not greatly supported by merchants the price will be down by a substantial amount i believe.

FIAT has no value. it is only a paper printed with country heroes or anything.
If there is a war FIAT will be useless while Gold and digital currency will be more valuable.

Don't read the News because it only generates FUD and hides the true potential or truth about bitcoin.

 

Don't you think we have seen so many news like that before?  And I do think that this news is to panic the traders forcing them mentally to sell the coins before it goes to 1000-3000 K USD.
But the way he represented his thoughts in a technical way and was more convincing.

People have been saying this because bitcoin is in the public eye. It's not that he's saying it or it's not true, he doesn't know if it's going to happen. Because of recent Asian government attacks on bitcoin, bitcoin can actually relax 90 percent of its value.

When people do this usually they're the one with ulterior motive. They'll be the first to hog the items. But in my opinion he may be partially right and partially wrong. Since bitcoin will eventually lose its value, but what contradicts it is that bitcoin always recover. And even pop its value.

I do not think Bitcoin can lose 90% of its value because many investors are trying to stifle its, so movement that does not mean it will drop to 90%. Many whales are trying to create bad news about Bitcoin that scare Bitcoiner and sell it for a price dump. They can take advantage of this fear to make a profit.

Hope these forecasts will not come true, if Bitcoin releases 90% of the value, then it will greatly hit the confidence of investors, resulting in long-term downturn in the BTC.This is a serious blow to BTC and cryptocurrency.

Something that will not perish without a clear cause. Which determines the bitcoin price is down or not it is we who determine it, if we use well then bitcoin will be glorious, if we stay bitcoin then bitcoin price will also fall.

NEVER NEVER NEVER,  I mean even if it did drop to 1k,  it would only last a few minutes, as everyone would be buying it up,  WE have all seen dec, and those of us who didnt benefit from it,  want to get on that up ride.   

Another lame attempt at creating FUD and panic selling. Whales are waiting to swallow the disposed BTCs  ;D

Why do people keep trying to make 'whales' the enemy?   Whales just do what they do.   Plankton just do what they do.

I saw this on another thread and it's just so relevant:

https://99bitcoins.com/bitcoinobituaries/

Basically, various experts on the subject has incorrectly predicted that Bitcoin is dead or dying a whopping 245 times. It's certainly possible for Bitcoin to lose 90% of its value, the same way its value could easily double, but Peter Boockvar doesn't really add anything new to the table. You'd think they'd be more conservative in declaring Bitcoin's death by now, but whatever. They're free to believe what they want to believe anyway.

Bitcoin, altcoin, dogecoin, oilcoin and many more.. crypto currencies are giant HYIPs (High yield investment programs)

This is might actually happen because of regulations of existing cryptocurrency and banning of ICOs in every country. But it is always on the hands of the investors if they will make the market go up and down since they are the direct influencer of it.

In fact, Wall Street's financial institutions always have a similar argument when it comes to encrypting cryptocurrency market.
But it turned out that they simply wanted to enter the cryptocurrency market at a lower price.

it's just a prediction and anyone can predict the bitcoin price as it is in his mind.
I do not think too much to respond to someone's predictions.

There is no great base on it. Since the moment bitcoin was publicly exposed, other user become so paranoid about it. I do not think bitcoin would be losing 90% since many people are patronising and relying on bitcoin, so does investors are choosing to support bitcoin. So this could be so impossible, and enough to say that this could not happen. We just have to believe on it.

i said as soon as the fucking wall street gets involved publicly (because they were heavily invested in bitcoin before but now it is public) they will start trying to manipulate the market like this. we have to start getting comfortable with seeing bullshit out of them like this and it is just starting, they will continue to make statements like this and know that everything you hear you should either reverse or tone down by a factor of 1000000!

meaning if they say bitcoin is dead, know that they have placed buy orders at a lower price which they want filled.
if they say price is dropping to x or rising to y then just decrease it and know they have placed buy or sell orders there.

and they say manipulation of a market is illegal....

It's of course not illegal in a market with no legal framework.    You have to take the good with the bad.   

It is unlikely that bitcoin this year will lose about 90 percent of its value. There are no objective reasons for concern. Bitcoin really in December last year proved to be a financial bubble with an increase in price to $ 20,000. However, it still has a huge margin of safety and it can quite reach in price and 100 000 dollars and at the same time not to burst. Forecasting from Wall Street has always been prejudiced against the crypto currency, so do not pay attention to it.

It means that bitcoin's value will go back to beginning of 2017. If that happens, it will be a good opportunity for new comer.

I don't think so that bitcoin have lose its value to 90% but yea its true that bitcoin is dropped too much like we can see that BTC is dropped from 19K$ to 10K$ and according to my knowledge  bitcoin is never fall in such high value before as now but we hope bitcoin will again gain its high margin as we are seeing that more newbie are coming here and also trader have got a chance for trading now more and more.

Bitcoin will raise in price by the end of the year.  There is just no way to stop this. Banks are terrified of blockchain technology now!

I don't think that's going to happen, if it's really that bad.

Because of the recent Asian government attacks on bitcoin, he doesn't know if it will happen.

Wall Street fiat slaves making bold predictions based on their limited knowledge on Crypto currencies. How many of these experts even know how Bitcoin works or even tried it. I hate those type of people with the negative attitude towards something they hardly know and the arrogance to make predictions is really beyond me.

These guys secretly invest in Bitcoin and then use their status in the Fiat system to manipulate the markets. The sooner we get rid of these guys, the better for all of us. ^grrrrrrr^

I do not believe bitcoin loses 90% of its value. This is unbelievable, currently due to the influence from China and Korea, the bitcoin price has dropped, but recent information Korea has not closed the domestic bitcoin trading floors and bitcoin prices are currently increasing. Again, this sign indicates that the bitcoin is recovering, the bitcoin value will not drop to 90% as you think.

When it was 20k, almost no one believed that bitcoin could go down 50%.
Today almost no one believes that it will go down 90%.

Investor of bitcoin should be strong, no market is always stable,the prediction is for more patronages and soon it will pump as never .

those people who hate bitcoin is the people who buy bitcoin in high price ,that's one of the reason why some people hate bitcoin it's because they dont get profit and the worst is they lose their money.

Everyone is entitled to their own opinion but the thing that gets me is why these kinds of prominent people in the financial industry have to air their own in public? I mean can't they just keep their negative opinions to themselves? Or are they necessary to drive the market in some way as to make it grow like what's happening to BTC. Price goes down and lots of investors grab the opportunity then it goes up again. Maybe they are necessary as to not stagnate the market.

It most likely to happen. users that invested already in  Bitcoin  deny anyone who tell them otherwise.
they want to be rich and be rich fast and where their money invested their feelings involve too.
this is why i take for granted opinions from investors.

Well, that's one very bold prediction right there. I know it is part of the game the oscillating values, but to think that it will crash right there and then to as much 90%?! that's pretty dense and bold. Tell em, I don't buy what you're selling.

It may be a part of propaganda to discourage investors, pull out assets, market grow weak, many will follow pulling out assets, market grow even weaker, and eventually crashes, and prediction fulfilled!  ;D

So hold out your horses guys! heheh

Everyone is free to make their predictions as to what futures of bitcoin could finally have but none of us can tell what exactly will going to happen next. Even if the value of bitcoin can loose up to 90% I don't think many people will be affected because majority now are holders and those who earn bitcoin actually convert them right away so for those holder I'm sure they will only take the drop as an opportunity for investment and will believe that bitcoin will always recover.

Yes youre right everyone can tell their opinion and who knows what will the bitcoin value in the near future maybe its the end or it will rise again but in the current situation I'm sill holding my bitcoin and wait for the comeback of it.

I think it takes a very strong instinct to prove the event will happen or not. Then what about Dump and Pump? Does it have no effect in crypto ?. If that does not function anymore, then i think crypto will gradually crumble or maybe it will disappear.
I don't think it will happen because now this technology is not extinct but even more sophisticated. For example bitcoin mining is getting more and more sophisticated.

Sounds like he is comparing this to prior bubbles.  It's a lazy comparison, it's like saying my friend got fat from eating cake and you will too.  Well if I'm training to run the Boston marathon for the 10th time maybe I'm not going to get as fat as your lazy friend. 

Bitcoin can solve a problem, unlike Dutch tulips and collateralized debt obligations, and so the interest will remain.

In case it happens, I guess a lot of alt coins will also disappear from the market.

Hate to admit it, but I believe that Bitcoin is losing its value everyday because of the many unserviced transactions and high fees.. People have started to avoid Bitcoin for micropayments.

Forget that greedy fools from wall street.
What if you had a power to change the price a little bit. They bringing the bad news and start buying.
And later you will cry over it why you didn't buy.
Fresh investment coming to crypto everyday. What are you afraid of.
Imagine that you own a bakery and everyday people buying your products. And every 3 months that multiplying with a few times.
July 2017 market cap value 50 billion, February 2018 market cap value 500 billion, and between that period people constantly saying that Bitcoin is dying.
What more proof do you need more?

90% from 19K level, yeah.. check how much he has invested behind the screens :)
I bet investments from these behemoths are certain in bitcoin, for the external world they want to appear straight jacketed, rule book guys who are with the banks and large corporations.
When the blasphemy ends you will see the same folks with loads of bitcoins lining up in the exchanges.

The bad news against the BTC is getting more and more. Governments worldwide have already announced and implemented regulations.
Now threatens also danger from the ranks of the crypto world

everyone is entitled to say anything its our freedom,but always remember that because its free,you will say everything even it see to make you fool,..if he can predict bitcoin could lose 90% or its value,so better to say that the who crypto will collapse since bitcoin is the highest valued coin..

For me it will never ever going to happen.let us time tells what will be the future is what is important now that we do our business here,gain as much as you can.so if things becomes possible we are ready to face such

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.

Here we go again, another fearless forecast coming from one of the antagonists of bitcoin ::) I understand that he call btc a classic bubble because haters of it usually say that, but the moment he predicted that it will go down to $1k -$3k per coin,  I think he's crazy :D I'm not saying that his prediction is impossible to happen, what I'm saying is btc will take a lot of time and will undergo a lot of circumstances first before this may happen.

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.

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.

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.

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.

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.

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.

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%.

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.

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.

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.

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?

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.

His prediction of BTC dropping might be true, at 8500 , in cryto term it's not too far from the 3000 level he predicded.

Although you are right and investors will support BTC not to let it die, its price has dramatically decreased. Waiting for the pump.

I thought it would be the other way around volatility  = good for profits and loss, so will attract speculators

Amen to that.  I've put in bold what I'm exactly thinking too.

for today I keep all my assets in the etherium and other altcoin, because I have long withdrawn my funds from Bitcoin. Bitcoin does not have confidence yet. But if Bitcoin drops by 90%, it will be a good opportunity to buy a little, maybe in the future something will really happen and again it will rise and we will see 1 Million dollar for a coin.

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.

Well it makes sense that people have become more aware now about crypto and alts so bitcoin is not enjoying the supremacy it did a year ago. But i'm still with btc this time. Although it looks like another dip is likely to happen, 1k probably is a remote possibility. People will jump in once btc touches 5k support and will probably bounce hard after that. If it hits 5k