[2018-05-07] Wall Street Analyst Concerned About Bitcoin Price, Not Convinced

[tyz]

Wall Street Analyst Concerned About Bitcoin Price, Not Convinced

There is a lot of excitement regarding the Bitcoin price. Unsurprisingly, this also triggers a lot of warnings to remain cautious. DataTrek Research co-founder Nick Colas isn’t too convinced cryptocurrency is here to stay. Even though he is Wall Street’s first Bitcoin analyst, his outlook is rather grim.

https://www.newsbtc.com/2018/05/07/wall-street-analyst-concerned-bitcoin-price-not-convinced/

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[richardsNY]

I like that. As long as analysts keep speaking out like that, we know that we by far aren't haven't even seen one glimpse of Bitcoin's potential. I remember how nearly all 'analysts' and 'experts' were not seeing ANY value in Bitcoin's potential, and look where we are today. Good thing however is that the market never bothered to pay attention to these self claimed clowns, and that won't change if they don't show any signs of actual interest and understanding of the market they research. Once Bitcoin is so widely adopted and everywhere in their face, they won't have any option other than to finally start getting into it, which basically applies to everyone -- the longer you wait the more you miss out.

[IconFirm]

Agreed. The longer these know-nothing-about crypto  "experts" keep spouting rubbish the better we & crypto are for it.

[alex_gr_cc]

Every day, more and more analysts from the classical financial world have expressed doubts about Bitcoin. I believe that it is not in vain.
The market of cryptocurrency continues to develop. But not Bitcoin.

[IconFirm]

The market of cryptocurrency continues to develop. But not Bitcoin.

Really?:

https://github.com/bitcoin/bitcoin/commits/master

Over 1700 commits & going up daily.

That's development.

[bbc.reporter]

FUD and that analyst may be planning to make everyone discouraged on bitcoin and may also start shilling about other altcoins that his investor friends may have been speculating in. Expect it by the end of 2018.

[Qartersa]

It has always been the case- Wall Street getting itself involved with investments that are seemingly obtrusive of their business- but you know what, instead of thinking about the negative it may bring Bitcoin, why not we just focus on the positive side of it? You see, good or bad, publicity is publicity. Hence, there is no loss here. We only win, only if we look at the brighter things in life.

I am just wondering though how these so-called 'analysts' come to play? Have they undergone formal schooling for them to be great critics worthy of reliance of cryptocurrencies today? I am concerned because it seems to me many have been said to be 'analysts' when they do not have the requisite know-how to be even considered authority in terms of cryptos.

[alice161128]

All the new things are not appreciated at the very beginning, especially by the "experts" in the tradition industry. But it's a good chance for us to earn big profit if we have faith and participate in early enough.