Bitcoin Price Could Reach $98,500, Say Wall Street Analysts

[marshol]

Bitcoin Price Could Reach $98,500, Say Wall Street Analysts

Check out the articles:

This one

and this

[The 4ner]

Woah! 

[kireinaha]

This is just a fluff piece for the bitcoin fanatics.

For example,

Many people have been asserting that the current high value is merely a temporary spike and that it will soon plummet to the level seen in September and October (around $120-$150), or perhaps even lower.

Who?

And why do they believe it could go to $98,500, specifically? How do they base that we're currently at 1% market penetration. Nowhere is it explained how of these optimistic conclusions were reached. Likely, the author and Wedbush analyst have significant holdings in bitcoin and are trying to pump it.

[seldon]

And I was so hoping for 100k.. you made me sad now

[ElectricMucus]

Can I be a Sesame Street Analyst?

[NUFCrichard]

That would make Bitcoin worth 1.2 trillion.  About the GDP of Mexico, whereas now we are about the size of North Korea...
Seems plausible, it could also be worth 0 though

[kireinaha]

And why do they believe it could go to $98,500, specifically?

They don't. They just said it could go 10x or 100x higher. The price was just $998 at the time of writing.
In fact the table says it could go anywhere between $520 and $208,141 (and don't ask me why not $208,142...)

Hmm, so it's not very helpful then. I mean, I already knew it could reach 100k, but it could just as likely reach $1500 next week and then plummet to <$100 again. Wow, I want to be a wall street analyst too!

[galbros]

There is an old saying on predictions that if you give a price don't give a date and I think that is the case here.  Of course, BTC could reach 98,500 but without some kind of time attached to it the prediction is pretty worthless.  Still, probably better to be higher than yet another Bitcoin is a ponzi crap article.

[The 4ner]

Have you all seen this video?
Its claim is unbelievable!
I'm still trying to take it in.
http://moneymorning.com/ext/bitcoin/videos/video-bitcoin.php?src=jetbuzz&ad=china1

[taenaive]

Have you all seen this video?
Its claim is unbelievable!
I'm still trying to take it in.
http://moneymorning.com/ext/bitcoin/videos/video-bitcoin.php?src=jetbuzz&ad=china1

wow, this is crazy. bitcoin is Edison's revenge?  LOL

[t1000]

Have you all seen this video?
Its claim is unbelievable!
I'm still trying to take it in.
http://moneymorning.com/ext/bitcoin/videos/video-bitcoin.php?src=jetbuzz&ad=china1

  Impressive. They took some bitcoin facts, put it in a blender with 500g of salt, 300g of pepper, 100g of ponzi dust, 100g pyramid ground and a whole cup of pixie sparkles, then they switched on the blender.

They actually got some of the history wrong. It was Nikola Tesla who invented Bitcoin, Thomas Edison merely stole the idea. Then Tesla created Litecoin to compete with what Edison stole from him, I look forward to seeing a video on that.

I think some people are going to fall for this. They are going to buy the books and possibly buy some "bitcoins", whenever that is they are selling. Free market....

[CMMPro]

Scumbag Edison...dead for 70 years and still stealing other people's ideas.

[theonewhowaskazu]

Scumbag Edison...dead for 70 years and still stealing other people's ideas.

Quoted for truth. 100 years from now people will still randomly be putting good words in his mouth.

[wmcleod]

Until the whales dilute their portion of BTC, I don't foresee BTC going any higher than $5000-$10000.  One person has the ability to manipulate and over-sell an entire market.  That is new territory for all investors and I don't think they're taking this into account.

[BitChick]

Until the whales dilute their portion of BTC, I don't foresee BTC going any higher than $5000-$10000.  One person has the ability to manipulate and over-sell an entire market.  That is new territory for all investors and I don't think they're taking this into account.

I am sure people did not foresee BTC going any higher then $100 or $1000 but here we are. 

[wobber]

I like the pharmaceutical-like comments on that website!

[TERA]

$98,500 during THIS rally or long term?

[BitcoinTraderFX]

I like the number they came up with, funny: $98,500.

Me, having superior analytics actually derived a more specific number of $98,487.24 and 6 satoshi     : P

(Keep in mind, I had my tongue in my cheek the whole time I wrote this post.)

; )

cj

[beetcoin]

This is just a fluff piece for the bitcoin fanatics.

For example,

Many people have been asserting that the current high value is merely a temporary spike and that it will soon plummet to the level seen in September and October (around $120-$150), or perhaps even lower.

Who?

And why do they believe it could go to $98,500, specifically? How do they base that we're currently at 1% market penetration. Nowhere is it explained how of these optimistic conclusions were reached. Likely, the author and Wedbush analyst have significant holdings in bitcoin and are trying to pump it.

the site is currently down but i have a feeling i'd agree with you after taking a look at the information at hand. i could make up any random set of numbers, correlate them magically, and then make myself look really good doing that.

[Ausversucht]

That would make Bitcoin worth 1.2 trillion.  About the GDP of Mexico, whereas now we are about the size of North Korea...
Seems plausible, it could also be worth 0 though

Damn, then we are on the way up.... Bitcoin is worth a shitload more than Mexico