2014-01-21 Bloomberg - Bitcoin No Bargain as 47% of Investors go Bearish

[kiko]

http://www.bloomberg.com/news/2014-01-21/bitcoin-no-bargain-as-47-of-investors-go-bearish-in-poll.html

Forty-seven percent of respondents say they would sell Bitcoin, while 11 percent say they’d buy it. Another 7 percent say they’d hold the virtual currency, while 35 percent say they haven’t got an opinion about it.

"go bearish" How many times have they measured sentiment like this? How many of the bearish have ever used the currency? Read the whitepaper? Gotten out of the cheap seats?

I suspect none of the bearish had a fair value in mind above zero. I wish they had been asked "At what price would you be a buyer?"

[vokain]

http://www.bloomberg.com/news/2014-01-21/bitcoin-no-bargain-as-47-of-investors-go-bearish-in-poll.html

Forty-seven percent of respondents say they would sell Bitcoin, while 11 percent say they’d buy it. Another 7 percent say they’d hold the virtual currency, while 35 percent say they haven’t got an opinion about it.

"go bearish" How many times have they measured sentiment like this? How many of the bearish have ever used the currency? Read the whitepaper? Gotten out of the cheap seats?

I suspect none of the bearish had a fair value in mind above zero. I wish they had been asked "At what price would you be a buyer?"

Are they sure they asked investors? they didn't ask me :p

[cr1776]

Talk about a ridiculous statistic.  :-)   Good for a laugh though.

[oakpacific]

These Medieval luddites need to be informed of a few basic facts about Bitcoin before they talk craps:

1.Technically nobody bearish on Bitcoin "would sell" it, if anybody wants to sell bitcoins, they can move their coins immediately and in about 30 minutes they will be done selling, no time wasted on going through middle-men and their 9-to-5 workdays so the future tense here is either ridiculous or we are actually talking about bulls who at least expect the price to be higher before they sell.

2. We don't know whether anyone with enough coins to cause a crash will sell today or tomorrow, but if by"investors" they meant everyone who owns bitcoins, then we have a pretty good idea whether the majority of coins move or not, so what the poll gives is probably either irrelevant or misleading result.

[pand70]

Read the whitepaper?

Yeah if they read the whitepaper they 'll turn bullish... NOT

[aigeezer]

Forty-seven percent of respondents say they would sell Bitcoin

(if they had any to sell)

Nimble investors indeed.

[odolvlobo]

Forty-seven percent of respondents say they would sell Bitcoin, while 11 percent say they’d buy it. Another 7 percent say they’d hold the virtual currency, while 35 percent say they haven’t got an opinion about it.

Only 47%? A year ago, it would have been 97%. 47% is great news.

[Peter R]

Forty-seven percent of respondents say they would sell Bitcoin, while 11 percent say they’d buy it. Another 7 percent say they’d hold the virtual currency, while 35 percent say they haven’t got an opinion about it.

But probably less than 1% currently own it, so I take this as quite bullish. 

[marcus_of_augustus]

Interesting that Bloomberg is publishing an article like this ... first of its kind in mainstream financial press I think.

Who would have thought 18 months ago Bloomberg would give 2 secs to write about bitcoin market sentiment? Portends of wall st. money in the game ... looking to buy lower no doubt

[Carlton Banks]

Who would have thought 18 months ago Bloomberg would give 2 secs to write about bitcoin market sentiment? Portends of wall st. money in the game ... looking to buy lower no doubt

Furthermore, there's been a range bear-ish signals in the financial press for months and months, arguably starting with the original "tulip-mania" and "intrinsic value" attributions. I think the breakout this year could be quite something: the established players want to buy lower, and the way things are going, they may have already missed any opportunity to do so. Choo choo, etc

Hold and buy low, ladies and gents.

[BitChick]

Forty-seven percent of respondents say they would sell Bitcoin, while 11 percent say they’d buy it. Another 7 percent say they’d hold the virtual currency, while 35 percent say they haven’t got an opinion about it.

Only 47%? A year ago, it would have been 97%. 47% is great news.

That's what I was thinking!  People were saying SELL when the price was $1, $10, $100!  I am sure they will say the same thing when the price is $10000.  If the price does go to $100,000 or more than $10,000 is still a good time to buy.

[FeedbackLoop]

If less than 10% were bearish... THEN it would be "no bargain".

[LiteCoinGuy]

Forty-seven percent of respondents say they would sell Bitcoin, while 11 percent say they’d buy it. Another 7 percent say they’d hold the virtual currency, while 35 percent say they haven’t got an opinion about it.

Only 47%? A year ago, it would have been 97%. 47% is great news.

lol yes , so true! 

[Bobsurplus]

Who would have thought 18 months ago Bloomberg would give 2 secs to write about bitcoin market sentiment? Portends of wall st. money in the game ... looking to buy lower no doubt

Furthermore, there's been a range bear-ish signals in the financial press for months and months, arguably starting with the original "tulip-mania" and "intrinsic value" attributions. I think the breakout this year could be quite something: the established players want to buy lower, and the way things are going, they may have already missed any opportunity to do so. Choo choo, etc

Hold and buy low, ladies and gents.

Its HODL!! not hold.

[HeliKopterBen]

These are the folks that will be paying big bucks for mere satoshis in a few years once they eventually realize what is going on.

[Rygon]

Forty-seven percent of respondents say they would sell Bitcoin

(if they had any to sell)

Nimble investors indeed.

They probably would have gotten the same answer from those 47% if the question was about gold, silver, rare artwork, etc. A more informative survey would have asked folks where they would put their money for at least a year if they had to choose between stocks, CD's, bitcoins, money market funds, etc.