Bitcoin could loose 90% of its value

[Cheyenne]

In fact, Wall Street's financial institutions always have a similar argument when it comes to encrypting cryptocurrency market.
But it turned out that they simply wanted to enter the cryptocurrency market at a lower price.

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[irsada]

it's just a prediction and anyone can predict the bitcoin price as it is in his mind.
I do not think too much to respond to someone's predictions.

[Thecryptocurrency09]

Wall Street veteran Peter Boockvar warns that Bitcoin could loose 90% of its value

Wall Street veteran Peter Boockvar predicts an epic crash will hit the cryptocurrency market.

He isn't sure if it'll come to a grinding halt or be a slow and steady drop — but he says it's coming.

Boockvar, chief investment officer at Bleakley Advisory Group, is certain crypto is in a giant bubble, and the air is already coming out.

"When something goes parabolic like this has, it typically ends up to where that parabola began," he said on CNBC's "Futures Now."

Boockvar, a CNBC contributor, contends bitcoin is in danger of dropping 90 percent from current levels. He calls it a classic bubble.

"I wouldn't be surprised if over the next year it's down to $1,000 to $3,000," he added.

Once the cryptocurrency market cracks, he contends, investor attitudes toward risk assets will change. According to Boockvar, the stock market could see collateral damage, but it would all be based on psychology — not on anything that's fundamentally wrong with the economy.

https://www.cnbc.com/2018/01/19/bitcoin-could-lose-90-percent-of-its-value-wall-st-veteran-boockvar-warns.html

There is no great base on it. Since the moment bitcoin was publicly exposed, other user become so paranoid about it. I do not think bitcoin would be losing 90% since many people are patronising and relying on bitcoin, so does investors are choosing to support bitcoin. So this could be so impossible, and enough to say that this could not happen. We just have to believe on it.

[pooya87]

i said as soon as the fucking wall street gets involved publicly (because they were heavily invested in bitcoin before but now it is public) they will start trying to manipulate the market like this. we have to start getting comfortable with seeing bullshit out of them like this and it is just starting, they will continue to make statements like this and know that everything you hear you should either reverse or tone down by a factor of 1000000!

meaning if they say bitcoin is dead, know that they have placed buy orders at a lower price which they want filled.
if they say price is dropping to x or rising to y then just decrease it and know they have placed buy or sell orders there.

and they say manipulation of a market is illegal....

[Dapper]

It's of course not illegal in a market with no legal framework.    You have to take the good with the bad.   

[Irvinn]

It is unlikely that bitcoin this year will lose about 90 percent of its value. There are no objective reasons for concern. Bitcoin really in December last year proved to be a financial bubble with an increase in price to $ 20,000. However, it still has a huge margin of safety and it can quite reach in price and 100 000 dollars and at the same time not to burst. Forecasting from Wall Street has always been prejudiced against the crypto currency, so do not pay attention to it.

[tigermonkey]

It means that bitcoin's value will go back to beginning of 2017. If that happens, it will be a good opportunity for new comer.

[_noname_]

It is unlikely that bitcoin this year will lose about 90 percent of its value. There are no objective reasons for concern. Bitcoin really in December last year proved to be a financial bubble with an increase in price to $ 20,000. However, it still has a huge margin of safety and it can quite reach in price and 100 000 dollars and at the same time not to burst. Forecasting from Wall Street has always been prejudiced against the crypto currency, so do not pay attention to it.

I don't think so that bitcoin have lose its value to 90% but yea its true that bitcoin is dropped too much like we can see that BTC is dropped from 19K$ to 10K$ and according to my knowledge  bitcoin is never fall in such high value before as now but we hope bitcoin will again gain its high margin as we are seeing that more newbie are coming here and also trader have got a chance for trading now more and more.

[24core]

Bitcoin will raise in price by the end of the year.  There is just no way to stop this. Banks are terrified of blockchain technology now!

[shoujiuhaituo7]

I don't think that's going to happen, if it's really that bad.

Because of the recent Asian government attacks on bitcoin, he doesn't know if it will happen.

[Kakmakr]

Wall Street fiat slaves making bold predictions based on their limited knowledge on Crypto currencies. How many of these experts even know how Bitcoin works or even tried it. I hate those type of people with the negative attitude towards something they hardly know and the arrogance to make predictions is really beyond me.

These guys secretly invest in Bitcoin and then use their status in the Fiat system to manipulate the markets. The sooner we get rid of these guys, the better for all of us. ^grrrrrrr^

[ThorWin]

I do not believe bitcoin loses 90% of its value. This is unbelievable, currently due to the influence from China and Korea, the bitcoin price has dropped, but recent information Korea has not closed the domestic bitcoin trading floors and bitcoin prices are currently increasing. Again, this sign indicates that the bitcoin is recovering, the bitcoin value will not drop to 90% as you think.

[procc]

When it was 20k, almost no one believed that bitcoin could go down 50%.
Today almost no one believes that it will go down 90%.

[Maxson]

Investor of bitcoin should be strong, no market is always stable,the prediction is for more patronages and soon it will pump as never .

[Rhaiyah]

famous people keep againts bitcoin and said negatively about bitcoin. i'm sure someone pay them or themself want to buy his own bitcoin with low price

yes, I agree with you, many people hate bitcoin, and even against bitcoin, today they are happy because bitcoin loses 90% of its power, but when bitcoin gets back up, i'm sure bitcoin will load them cry and regret.

those people who hate bitcoin is the people who buy bitcoin in high price ,that's one of the reason why some people hate bitcoin it's because they dont get profit and the worst is they lose their money.

[Toden1379]

Everyone is entitled to their own opinion but the thing that gets me is why these kinds of prominent people in the financial industry have to air their own in public? I mean can't they just keep their negative opinions to themselves? Or are they necessary to drive the market in some way as to make it grow like what's happening to BTC. Price goes down and lots of investors grab the opportunity then it goes up again. Maybe they are necessary as to not stagnate the market.

[Hooli1]

It most likely to happen. users that invested already in  Bitcoin  deny anyone who tell them otherwise.
they want to be rich and be rich fast and where their money invested their feelings involve too.
this is why i take for granted opinions from investors.

[raniadaling]

Well, that's one very bold prediction right there. I know it is part of the game the oscillating values, but to think that it will crash right there and then to as much 90%?! that's pretty dense and bold. Tell em, I don't buy what you're selling.

It may be a part of propaganda to discourage investors, pull out assets, market grow weak, many will follow pulling out assets, market grow even weaker, and eventually crashes, and prediction fulfilled!  

So hold out your horses guys! heheh

[audrey12]

Everyone is free to make their predictions as to what futures of bitcoin could finally have but none of us can tell what exactly will going to happen next. Even if the value of bitcoin can loose up to 90% I don't think many people will be affected because majority now are holders and those who earn bitcoin actually convert them right away so for those holder I'm sure they will only take the drop as an opportunity for investment and will believe that bitcoin will always recover.

[paul00]

Everyone is free to make their predictions as to what futures of bitcoin could finally have but none of us can tell what exactly will going to happen next. Even if the value of bitcoin can loose up to 90% I don't think many people will be affected because majority now are holders and those who earn bitcoin actually convert them right away so for those holder I'm sure they will only take the drop as an opportunity for investment and will believe that bitcoin will always recover.

Yes youre right everyone can tell their opinion and who knows what will the bitcoin value in the near future maybe its the end or it will rise again but in the current situation I'm sill holding my bitcoin and wait for the comeback of it.