Airdrop $5,000

[richardsNY]

Why are we predicting something that it is not possible and I doubt if this will happen again. I was thinking that this is an old speculation until I read the thread. I can bet that this is not going to happen and we expect even a serious push after year.

If we look back at how the market has been performing in the last years, it becomes clear that we can't discard certain price levels from being revisited again. I remember how sure people were for the price to not fall back below $1000 again, but it still happened, and turns out now, it was an amazing buying opportunity. At this point there is literally nothing that indicates a drop to such low levels, so let people just speculate as much as they want. In some cases I like to see a difference in speculations in times where the majority of the people here are over-exaggerated bullish. Some less bullish predictions are very interesting to read through when they contain factual information.

[Malsetid]

Plain old fud. Bitcoin now has strong support that it will be hardnfor btc to break a 10k support line even through all the negative news thrown against it right now

[Enjel]

Dennis Gartman is a buffoon.

Remember his last famous prediction? "The stock market will crash when Trump gets elected".

People who listened to him once should learn their lesson.

[jjacob]

Dennis Gartman is a buffoon.

Remember his last famous prediction? "The stock market will crash when Trump gets elected".

People who listened to him once should learn their lesson.

A lot of people got it wrong about Trump's effects on the stock market. The Republican tax cuts, strong growth across the world and easy money (quantitative easing has not been rolled back fully) have triggered the bull run in stock markets.
Bitcoin seems to have far more detractors than Donald Trump.  I too will discount this prediction.

[STT]

I put down a short bet on the stockmarket on the day of the election, it peaked prior to results on speculation and became an easy target for that idea.     The market did fall greatly overseas and before USA open (futures) and then it rose strongly and regained any losses and of course its gone up ever since.

See there is always two sides to a story regardless of bias.    The story for stocks rising is many describe global trade and Trump being elected is not leading to a strong dollar.  As SP500 is denominated by dollar and that is a weak factor, the nominal price rises.

Same for gold or even Bitcoin, its stronger then expected because there is a relation to weak dollar.    Gartman is missing that mostly.   In 2008 the dollar rose on the back of expected bankruptcy but instead policy changed to prevent that.   To predict Bitcoin to sell off now you have to also predict a better standard for global currency transfer, I hope BTC improves its game but also I dont think Dollar or US treasuries are an especially strong standard.   So long as effective inflation exceeds interest rates then it will likely boost interest in crypto in parts of the world.   

[cybersofts]

5000$ will still be a 500% rise in one year.  

Which is not going to happen, anyway! What most people doesn't understand about bitcoin is it just too big to fail. Bitcoin is no longer a $100 million market it reaches up to $280 Billion market. 

[babygun]

There are believers and non believers of bitcoin and clearly Dennis Gartman falls into the last category. Don't pay to much attention to this kind of news, do your own research!

[wxa7115]

There seems to be nothing that can convince Dennis Gartman to turn bullish on bitcoin.

Despite tanking this month, bitcoin has still soared over 1,400 percent this year. But Thursday on CNBC's "Futures Now," The Gartman Letter editor and publisher reiterated his skepticism on bitcoin's meteoric rise, a view he has held for the past few months.

"I'm very bearish on bitcoin, I think it's one of the silliest ideas I've heard in a long time," he said. "To be separated from the brilliance of the block chain, [makes even] tulips in [17th] century Holland look almost like a quiet, well-demeanored market," Gartman said, using a frequently invoked analogy of the boom in tulip prices that sent the Dutch into a frenzy nearly 400 years ago.

After reaching spectacular heights, tulip prices eventually tumbled sharply. The phenomenon has since become synonymous with bubble markets like 90s dotcom stocks, and housing prices prior to the 2008 financial crisis.

Gartman told CNBC that bitcoin will not only burn all those involved with it, but once it does there will be a rush into gold.

"When bitcoin falls, and it shall, it'll trade under $5,000," he said. "Whether it does it next week, next year, six months from now, it'll happen. And then I think we'll find at the margin money that had moved into bitcoin and away from gold will move away from bitcoin and into gold."

Bitcoin has tumbled 6 percent this week, the latest plunge due to South Korea's possible actions to crack down on the cryptocurrency.

Source - CNBC

So according to this 'expert' which has been bearish for months, despite bitcoin being bullish, bitcoin will crash and it'll still trade at 5k, how's that a failure? Yes many will lose money, but that is still a massive price, some compare bitcoin to tulips but tulip's prices went to almost zero, if bitcoin will trade at 5k then it's not a failure and given enough time it'll recover and reach new heights again.

[gabmen]

There are believers and non believers of bitcoin and clearly Dennis Gartman falls into the last category. Don't pay to much attention to this kind of news, do your own research!

Yeah there will always be those that would want to bring btc downnfor whatever reasons they have. 5000 is less likely now than btc hitting 40-50k. They're probably just trying to make weak hands panic and sell their btcs

[ASHLIUSZ]

There are believers and non believers of bitcoin and clearly Dennis Gartman falls into the last category. Don't pay to much attention to this kind of news, do your own research!

Yeah there will always be those that would want to bring btc downnfor whatever reasons they have. 5000 is less likely now than btc hitting 40-50k. They're probably just trying to make weak hands panic and sell their btcs

As mentioned in the above quote bitcoin will not downfall to such a low value less than $5000. Price fall is obvious, and such news rolling out from personalities stating that the value will decrease is just a initiation of FUD. Same time several predictions has come out of personalities stating price will grow higher than $50k.

[olushakes]

As much as Dennis Gartman might want to be right, unfortunately the situation currently suggests otherwise and there is noting that can be done about that. Dennis made his opinion but a lot of people who will rely on it to make decision regarding what they hold or what they about to hold is who I feel sorry for because now they will have to wait and wait to be sure they made the right decision which I not sure its going to happen anytime soon.

[Kemarit]

Oh well, the guys is really bearish about bitcoin so what do you expect from him. I there a small chance that we can go down that low, but I can't imagine people started to buy again at the price and then bitcoin rose from the ashes again. I want to know factors should really crash the market and pull the price? However, for me bitcoin cant be compare to tulip bubbles because bitcoin has limited supply that's why the price keeps going up regardless on what negative things they say  about it. Dennis Gartman is and old school, so I there we have to understand where he's coming from. But I think most of us will disagree with his predictions. There are really lots of bitcoin market analyst out there, but so sorry Dennis Gartman is not one of them.

[bitcad4u]

As much as Dennis Gartman might want to be right, unfortunately the situation currently suggests otherwise and there is noting that can be done about that. Dennis made his opinion but a lot of people who will rely on it to make decision regarding what they hold or what they about to hold is who I feel sorry for because now they will have to wait and wait to be sure they made the right decision which I not sure its going to happen anytime soon.

I don't think this will happen again.You are expecting the price of bitcoin will go to four month back price.If you want to happen so,you need to be patience till the price fluctuates to such value.All the bitcoin knowledge user will inverse their money in bitcoin blindly.Because they know the price of bitcoin will raise back.

[illnino]

I think he's right. Bitcoin due to lack of scalability can at any moment drop to 5000 dollars. Now there are many promising altcoins and against their backdrop it will be very difficult to develop.

[Enjel]

I think he's right. Bitcoin due to lack of scalability can at any moment drop to 5000 dollars. Now there are many promising altcoins and against their backdrop it will be very difficult to develop.

Not really. Since Dennis Gartman said it, it's guaranteed to be wrong. That already is proof.

[bitcoinzen]

The movement of bitcoin cost is always a sinusoid.
I call it-tits. Our tits are everything!
They are different, and vary depending on the situation, so the price of bitcoin.
And Dennis Gartman, does not have any influence on the price of bitcoin.

good!