[2019-06-10] BTC can surge to record HIGHS but still vulnerable to huge COLLAPSE

[D1v4c]

https://www.express.co.uk/finance/city/1138398/bitcoin-price-news-latest-update-cryptocurrency-global-trade-wars-world-economies

Bitcoin could be on the verge of smashing through record high prices of $20,000 this year, but still remains extremely vulnerable to a massive collapse due to its historic instability, cryptocurrency experts have warned.

The cryptocurrency, which celebrated its 10-year anniversary in January, suffered a horrific 2018, completely collapsing in price to $3,000 having hit record highs of nearly $20,000 just 12 months earlier.

But 2019 has seen bitcoin threatening a return to past glories, with the cryptocurrency undergoing a huge revival that as seen its price more than double to $8,000. Several global banks and technology companies are investing time and money into developing their own cryptocurrencies, which has renewed the interest in bitcoin, with experts enthusing this could just be the beginning of its latest success.

[DooMAD]

I thought after all this time that mainstream articles might be a touch less reductive, but it seems there are no signs of it changing yet.  It's not as simple as "regulations = price stability", but it's the same thing people have been spouting for years.  Why do people expect predictability from something that has no real precedent?

[hatshepsut93]

I thought after all this time that mainstream articles might be a touch less reductive, but it seems there are no signs of it changing yet.  It's not as simple as "regulations = price stability", but it's the same thing people have been spouting for years.  Why do people expect predictability from something that has no real precedent?

The idea is that volatility is caused by price manipulation, things like spoofing, wash trading and so on, so if regulations can reduce those things, then the volatility should naturally drop. But I think it wouldn't work like that, the influence of manipulation is probably exaggerated, and on regulated markets assets with small volumes are even more volatile than Bitcoin. There's also a theory that regulation will bring more investors, especially so-called institutional investors, and that will increase volume and decrease volatility.

[Betwrong]

Cryptocurrency experts are confident the latest resurgence could see bitcoin’s price smash through its record high price of $20,000 over the next couple of years - last achieved in December 2017.

At first I though "What kind of prediction is that?! Almost everybody knows that Bitcoin is going to hit a new ATH during the next couple of years!" Not certainly, of course, but with a 99% probability. But then I realized that I was wrong regarding the significance of this news. The thing is that the news is posted on express.co.uk, a site with over 24 million visitors per month (for comparison, bitcointalk.org has 1.4 million visitors per month), and thus people who were told last year that "Bitcoin is dead" by tabloids such as Daily Express, can change their mind now. And that's a good thing.

[Lucius]

Cheap journalism, repetition of what has already been countless times written with few speculations when a new ATH could happen. Some Danny Scott believes this might happen this year, others are however more cautious and say that this could happen in the next few years. It is also fun to read that big countries like China, Turkey and Argentina turn to bitcoin in order to move cash from their countries, they probably think of some rich people - but this is nothing new, rich people always seek ways to hide their money.

What this article actually tells the readers is that bitcoin will rise again, but they need to be smart and sell it before huge collapse.

[BitHodler]

At first I though "What kind of prediction is that?! Almost everybody knows that Bitcoin is going to hit a new ATH during the next couple of years!" Not certainly, of course, but with a 99% probability. But then I realized that I was wrong regarding the significance of this news. The thing is that the news is posted on express.co.uk, a site with over 24 million visitors per month (for comparison, bitcointalk.org has 1.4 million visitors per month), and thus people who were told last year that "Bitcoin is dead" by tabloids such as Daily Express, can change their mind now. And that's a good thing.

I'm not sure if it's actually a good thing when news outlets (crypto related or not crypto related) can influence people's opinion so easily. In this case it might be positive, but when the price goes down it certainly won't be.

News outlets are sentiment surfers--they adjust their articles to whatever it is that the market is indicating. Last year it was Bitcoin will become worthless and this year it's Bitcoin will be adopted by institutions and whatnot.

Honest journalism doesn't seem to exist when it comes to crypto, or I haven't come across a news outlet that is honest. Most news outlets also accept to list paid articles on their site....

[Betwrong]

At first I though "What kind of prediction is that?! Almost everybody knows that Bitcoin is going to hit a new ATH during the next couple of years!" Not certainly, of course, but with a 99% probability. But then I realized that I was wrong regarding the significance of this news. The thing is that the news is posted on express.co.uk, a site with over 24 million visitors per month (for comparison, bitcointalk.org has 1.4 million visitors per month), and thus people who were told last year that "Bitcoin is dead" by tabloids such as Daily Express, can change their mind now. And that's a good thing.

I'm not sure if it's actually a good thing when news outlets (crypto related or not crypto related) can influence people's opinion so easily. In this case it might be positive, but when the price goes down it certainly won't be.

News outlets are sentiment surfers--they adjust their articles to whatever it is that the market is indicating. Last year it was Bitcoin will become worthless and this year it's Bitcoin will be adopted by institutions and whatnot.

Honest journalism doesn't seem to exist when it comes to crypto, or I haven't come across a news outlet that is honest. Most news outlets also accept to list paid articles on their site....

I think it's good thing because the readers of Daily Express, or its online version, express.co.uk, most likely don't hold any BTC. I mean, in the current phase of adoption it is much more likely that Bitcoin is being held by the readers of the Financial Times or Wired rather than by readers of tabloids. So the good news in such media can trigger a new wave of Bitcoin adoption, while the bad news can't do much because the readers have basically nothing to sell.

[1Referee]

The idea is that volatility is caused by price manipulation, things like spoofing, wash trading and so on, so if regulations can reduce those things, then the volatility should naturally drop. But I think it wouldn't work like that, the influence of manipulation is probably exaggerated, and on regulated markets assets with small volumes are even more volatile than Bitcoin. There's also a theory that regulation will bring more investors, especially so-called institutional investors, and that will increase volume and decrease volatility.

Volatility affects even the most regulated exchanges such as Coinbase. Volatility is a side effect of how illiquid this market is. No amount of regulations can prevent price swings without investors having enough confidence in the exchanges to provide buy support to Bitcoin. Investors are rightfully worried about their funds that sit in their exchange account.

We need legacy institutions to offer trading desks so that there is a trusted environment for investors and traders to provide liquidity to a market badly in need of it. It's not for nothing that legacy institutions such as CBOE and CME and even Fidelity are the biggest ever entities in the financial world. They are being used because they have a proven trackrecord of being secure and competent.

Fidelity's crypto trading desk will be the first test in that regard. We'll see how it will provide more liquidity to this market and what effect it will actually have.

[BitHodler]

I think it's good thing because the readers of Daily Express, or its online version, express.co.uk, most likely don't hold any BTC. I mean, in the current phase of adoption it is much more likely that Bitcoin is being held by the readers of the Financial Times or Wired rather than by readers of tabloids. So the good news in such media can trigger a new wave of Bitcoin adoption, while the bad news can't do much because the readers have basically nothing to sell.

I don't agree with that. If we go by that logic, we can also say that readers of non crypto financial news outlets are generally less interested in crypto and actually quite skeptical about its functioning.

Most readers of financial news outlets tend to be supportive of gold and consider government issued fiat still to be the main form of money despite not seeing it work out in the long run, which is why they hold gold.

Gold bugs are pretty hardcore when it comes to their support for gold. It's close to impossible at this stage to convince them that Bitcoin is the better alternative in almost every possible way.

[Slow death]

Bitcoin could be on the verge of smashing through record high prices of $20,000 this year, but still remains extremely vulnerable to a massive collapse due to its historic instability, cryptocurrency experts have warned.

when we were in 2017 and the price only increased, all the analysts made very optimistic forecasts, it was as if they were never to think that bitcoin would fall a lot. this leads me to think that they are just making predictions just like someone who is not a specialist. In other words, these analysts do not analyze anything about bitcoin, they just guess

Several global banks and technology companies are investing time and money into developing their own cryptocurrencies

 

I thought this was rumor

Once regulations are set, we are likely to experience a stabilisation.

perhaps, but will taken many years for all the countries of the world to legalize bitcoin

[Betwrong]

I think it's good thing because the readers of Daily Express, or its online version, express.co.uk, most likely don't hold any BTC. I mean, in the current phase of adoption it is much more likely that Bitcoin is being held by the readers of the Financial Times or Wired rather than by readers of tabloids. So the good news in such media can trigger a new wave of Bitcoin adoption, while the bad news can't do much because the readers have basically nothing to sell.

I don't agree with that. If we go by that logic, we can also say that readers of non crypto financial news outlets are generally less interested in crypto and actually quite skeptical about its functioning.

Most readers of financial news outlets tend to be supportive of gold and consider government issued fiat still to be the main form of money despite not seeing it work out in the long run, which is why they hold gold.

Gold bugs are pretty hardcore when it comes to their support for gold. It's close to impossible at this stage to convince them that Bitcoin is the better alternative in almost every possible way.

Most readers of any news outlets, with the exception of crytpo related ones, are skeptical about crypto, I absolutely do not argue with that. What I meant to say was that people who hold crypto currently
are not tabloid readers, but rather readers of more serious informational sources. And Daily Express is a tabloid, and thus a new audience was targeted with crypto related news, and that's a good thing.

[pixie85]

I think that regulation will never be over. Once they regulate taxes they will go after exchanges and money laundering and mining power consumption and then p2p transactions. It's never going to be over like the criminal law that constantly changes and is different all around the world.

I don't see stabilization in bitcoin's future when they regulate it because it will never be over. When they touch it they will regulate it to its grave.

[milewilda]

Honest journalism doesn't seem to exist when it comes to crypto, or I haven't come across a news outlet that is honest. Most news outlets also accept to list paid articles on their site....

This is why i dont really trust up any news outlets when it comes to the news or articles that they tending out to publish.
Its either being rephrased or totally making it a false one just for the sake of their own intention or basically being paid out.

About on topic,BTC price would always have the tendency to surprise us and expect for having that kind of critcism and then suddenly
become positive when they do saw the current situation of its price.So theres nothing surprising on this matter.

[hatshepsut93]

I think that regulation will never be over. Once they regulate taxes they will go after exchanges and money laundering and mining power consumption and then p2p transactions. It's never going to be over like the criminal law that constantly changes and is different all around the world.

I don't see stabilization in bitcoin's future when they regulate it because it will never be over. When they touch it they will regulate it to its grave.

Well, no law is set in stone, they always change, even fundamental laws like constitution, which is supposed to be unchangeable, but it's not a problem, crypto ecosystem will respond and adapt to it, if regulations will be too annoying, users will find way to avoid them, either via loopholes or by ignoring it altogether - after all, crypto was created to ignore centralization in all forms, including regulations.

[bbc.reporter]

I thought after all this time that mainstream articles might be a touch less reductive, but it seems there are no signs of it changing yet.  It's not as simple as "regulations = price stability", but it's the same thing people have been spouting for years.  Why do people expect predictability from something that has no real precedent?

The government uses fear to let their citizens allow themselves to be subjected to laws and regulations that they are not aware are oppressive to them. The government also does it slowly to avoid being noticed that they are turning their citizens into slaves.