2013-12-05 Zerohedge: Citi: Bitcoin May Be A Complement To Gold

[solex]

After BoA it is Citi's turn to write nice things:

"Reserve managers are likely wondering whether Bitcoin is the answer to their most perplexing problem – where to find a pure store of value"

Citi: Bitcoin Could Look Attractive To Reserve Managers As A Complement To Gold

http://www.zerohedge.com/news/2013-12-05/citi-bitcoin-could-look-attractive-reserve-managers-complement-gold

The $1000 mark has brought out the big bank analysts, and to give them credit, they sure do their homework, unlike so many economics/blogger journos.

[justusranvier]

Good news coming from these sources makes me suspect a large dump coming soon.

[solex]

Good news coming from these sources makes me suspect a large dump coming soon.

Not sure what you are worried about.
Large dumps must come from existing holders. Any existing holder can dump at any time. This has always been the case. Just need to look at rpietila's list to see where the risk of that is. Also, large dumps are good in the long run as they spread the coinage into more hands.

The big banks are not monolithic like the Romulans or the Borg! Analysts have free rein to examine areas of the financial landscape within their purview (stocks, bonds, commodities, RE, etc). Their opinion helps take Bitcoin into the mainstream of the world economy, which it has to, eventually. Perhaps what they don't write yet is that everyone in the financial sector will utlimately have their jobs irrevocably changed as a result of the crypto revolution.

[Cunningham]

The $1000 mark has brought out the big bank analysts, and to give them credit, they sure do their homework, unlike so many economics/blogger journos.

Indeed. This thorough analysis about Bitcoin is one of the best I've seen in a long time, if not the best. I rarely print out any articles from the internet, but this one I'd like to read over and over again while relaxing in my bathtub ... 

[bryant.coleman]

Good news coming from these sources makes me suspect a large dump coming soon.

Those who had ideas to dump already did that when BTC hit $1,000. The next dump might come up at the $2,000 mark. Even the China scare story couldn't crash the exchange value by more than 10%.

[justusranvier]

Good news coming from these sources makes me suspect a large dump coming soon.

Not sure what you are worried about.
Large dumps must come from existing holders. Any existing holder can dump at any time. This has always been the case. Just need to look at rpietila's list to see where the risk of that is. Also, large dumps are good in the long run as they spread the coinage into more hands.

The big banks are not monolithic like the Romulans or the Borg! Analysts have free rein to examine areas of the financial landscape within their purview (stocks, bonds, commodities, RE, etc). Their opinion helps take Bitcoin into the mainstream of the world economy, which it has to, eventually. Perhaps what they don't write yet is that everyone in the financial sector will utlimately have their jobs irrevocably changed as a result of the crypto revolution.

What I was worried about is the tendency of these firms to use their own public statements to game the market.

When I see a Wall Street firm of any kind saying positive things about something, my default expectation is that they are talking the price up because they want to sell it.

[marcus_of_augustus]

What I was worried about is the tendency of these firms to use their own public statements to game the market.

When I see a Wall Street firm of any kind saying positive things about something, my default expectation is that they are talking the price up because they want to sell it and buy it back cheaper.

Fixed.

Which I think they might have just successfully done ...

[LiteCoinGuy]

nice. now we have the attention of citi, bank of america and hsbc (some month ago).

[Lethn]

Finally, people who think like me are entering into the fray.