SecondMarket CEO: Wall Street will put 'hundreds of Millions' into Bitcoin

[kellrobinson]

Alarmism of the sort we have seen before.  Bitcoin does have fundamentals, and even now it is trading at two or three times fundamentals.  It will be volatile until the market matures.  This Wall Street story is just more of the same.  Yes, it could lead to a bubble and crash, but that happens at least once a year anyway.  Every time, doomsayers call down the gods' wrath.

[empoweoqwj]

I've thought a bit about this, and if this happens, we will see a spike in BTC price anywhere between 10x and 100x it's current levels.  If/when this happens, anyone holding BTC will be wise to cash out before the bottom drops out, and trust me, the bottom WILL drop out.  The primary reason is that BTC is no longer being used as a currency, but as an asset/investment.  This means that people are getting into BTC to earn a return (priced in FRN) on their "investment".  Once wall street investors max out, the price will stop rising, it will begin to fall, panic will set in, and it will usher in a spectacular crash.  No other asset in the history of the world can go up/down as fast as bitcoins.  The transition from peak to crash will be minutes, maybe hours long.  Within a 24 hour window the BTC price will utterly collapse.  In the words of Dr. Gary North, this will be the stuff of PhD dissertations and books for decades to come.  Don't think for a second that the big wall street players don't know exactly how this will go down, and they will be first to sell at the peak.  So, if you hold BTC, don't let greed blind you to the inevitable fall, and sell at a comfortable price and get out of the path of the avalanche. 

Now, the question is, what price is the price to sell?  $10,000 per coin?  $25,000 per coin?  $100,000 per coin?

So how can you sell at the peak if you (or anyone else) has no idea what the peak will be? If you are saying "Mr Wall Street" knows what that peak will be and collude to make it so, well possibly, but I've read interviews with some of the best traders in the world, that generate hundreds of millions of dollars a year each, and they often get "caught with their pants down", get things completely wrong, so I don't believe there is some guy in "Wall St Tower" that has the power to set the peak, and then cause bitcoin to crash to nothing. Life is more complicated than that.

[worldtreasurefinders]

I've thought a bit about this, and if this happens, we will see a spike in BTC price anywhere between 10x and 100x it's current levels.  If/when this happens, anyone holding BTC will be wise to cash out before the bottom drops out, and trust me, the bottom WILL drop out.  The primary reason is that BTC is no longer being used as a currency, but as an asset/investment.  This means that people are getting into BTC to earn a return (priced in FRN) on their "investment".  Once wall street investors max out, the price will stop rising, it will begin to fall, panic will set in, and it will usher in a spectacular crash.  No other asset in the history of the world can go up/down as fast as bitcoins.  The transition from peak to crash will be minutes, maybe hours long.  Within a 24 hour window the BTC price will utterly collapse.  In the words of Dr. Gary North, this will be the stuff of PhD dissertations and books for decades to come.  Don't think for a second that the big wall street players don't know exactly how this will go down, and they will be first to sell at the peak.  So, if you hold BTC, don't let greed blind you to the inevitable fall, and sell at a comfortable price and get out of the path of the avalanche. 

Now, the question is, what price is the price to sell?  $10,000 per coin?  $25,000 per coin?  $100,000 per coin?

So how can you sell at the peak if you (or anyone else) has no idea what the peak will be? If you are saying "Mr Wall Street" knows what that peak will be and collude to make it so, well possibly, but I've read interviews with some of the best traders in the world, that generate hundreds of millions of dollars a year each, and they often get "caught with their pants down", get things completely wrong, so I don't believe there is some guy in "Wall St Tower" that has the power to set the peak, and then cause bitcoin to crash to nothing. Life is more complicated than that.

You must not have paid attention to what I said.  I said "sell at a comfortable price", perfectly aware that I will not be able to call the peak.  And when I said that wall street will sell at the peak, it's because there are ruthless CEOs and managers of these funds who, when they see the buy orders stop coming in, will see the writing on the wall wayyyy before you or me, and sell while the profits are up. 

[empoweoqwj]

I've thought a bit about this, and if this happens, we will see a spike in BTC price anywhere between 10x and 100x it's current levels.  If/when this happens, anyone holding BTC will be wise to cash out before the bottom drops out, and trust me, the bottom WILL drop out.  The primary reason is that BTC is no longer being used as a currency, but as an asset/investment.  This means that people are getting into BTC to earn a return (priced in FRN) on their "investment".  Once wall street investors max out, the price will stop rising, it will begin to fall, panic will set in, and it will usher in a spectacular crash.  No other asset in the history of the world can go up/down as fast as bitcoins.  The transition from peak to crash will be minutes, maybe hours long.  Within a 24 hour window the BTC price will utterly collapse.  In the words of Dr. Gary North, this will be the stuff of PhD dissertations and books for decades to come.  Don't think for a second that the big wall street players don't know exactly how this will go down, and they will be first to sell at the peak.  So, if you hold BTC, don't let greed blind you to the inevitable fall, and sell at a comfortable price and get out of the path of the avalanche. 

Now, the question is, what price is the price to sell?  $10,000 per coin?  $25,000 per coin?  $100,000 per coin?

So how can you sell at the peak if you (or anyone else) has no idea what the peak will be? If you are saying "Mr Wall Street" knows what that peak will be and collude to make it so, well possibly, but I've read interviews with some of the best traders in the world, that generate hundreds of millions of dollars a year each, and they often get "caught with their pants down", get things completely wrong, so I don't believe there is some guy in "Wall St Tower" that has the power to set the peak, and then cause bitcoin to crash to nothing. Life is more complicated than that.

You must not have paid attention to what I said.  I said "sell at a comfortable price", perfectly aware that I will not be able to call the peak.  And when I said that wall street will sell at the peak, it's because there are ruthless CEOs and managers of these funds who, when they see the buy orders stop coming in, will see the writing on the wall wayyyy before you or me, and sell while the profits are up. 

Fair enough, but to quote your directly "the question is, what price is the price to sell?  $10,000 per coin?  $25,000 per coin?  $100,000 per coin?"

Kind of hard for us joe lunch-buckets to know what a comfortable price is. Everyone is greedy. Nobody is going to sell at $10K if the thing is booming ..........

This is all assuming of course Wall St really does fall in love with bitcoin and pours billions of dollars into it. If it really happens, I'm sure most people will find an exit strategy that doesn't involve bitcoin crashing to zero before selling 

[worldtreasurefinders]

Fair enough, but to quote your directly "the question is, what price is the price to sell?  $10,000 per coin?  $25,000 per coin?  $100,000 per coin?"

Kind of hard for us joe lunch-buckets to know what a comfortable price is. Everyone is greedy. Nobody is going to sell at $10K if the thing is booming ..........

This is all assuming of course Wall St really does fall in love with bitcoin and pours billions of dollars into it. If it really happens, I'm sure most people will find an exit strategy that doesn't involve bitcoin crashing to zero before selling 

That's true, none of us know what time is the "right time" to sell.  I sold a bunch of BTC when it hit $400, because after studying the charts I was certain a correction was coming.  Boy was I wrong.  Selling at $400 was a mistake on my part, but at least I didn't sell my whole BTC stash. 

[Dafar]

Well I hope it at least goes to $10,000/btc next year... maybe I can retire for a whole year and actually enjoy life.

But if it does go to $10,000 it would be so tempting to hold on and see it rise even more. If it goes to $10k i'd probably keep holding and put a sell limit around $10k. Then again we could all be delusional, and the price could just hover around $1000-1200 all of next year. I wouldn't be surprised if that happens, too many of the early adopters already got rich... the rest of us jumped in hoping for the same but lets be honest here... we can't all be rich.

[empoweoqwj]

Fair enough, but to quote your directly "the question is, what price is the price to sell?  $10,000 per coin?  $25,000 per coin?  $100,000 per coin?"

Kind of hard for us joe lunch-buckets to know what a comfortable price is. Everyone is greedy. Nobody is going to sell at $10K if the thing is booming ..........

This is all assuming of course Wall St really does fall in love with bitcoin and pours billions of dollars into it. If it really happens, I'm sure most people will find an exit strategy that doesn't involve bitcoin crashing to zero before selling 

That's true, none of us know what time is the "right time" to sell.  I sold a bunch of BTC when it hit $400, because after studying the charts I was certain a correction was coming.  Boy was I wrong.  Selling at $400 was a mistake on my part, but at least I didn't sell my whole BTC stash. 

I sold 10 BTC just a month or more ago at $230 because I thought it was going to bounce down .... oops!

My new motto is "a fool and his bitcoins are easily parted" !!

[Jeffrey]

great news indeed. 2014 could be a good year for BTC

Even better than 2013?

BTC getting more widely accepted is good, but on the other hand, the value has to stabilize somewhere... if only we knew when and where.
The big question also is, will people keep using BTC as an investment (like I think 95% is doing now), mining yourself or buying low but still selling for fiat, or will it actually work out to be a widely accepted payment method.

[Lewis2]

Key interest group have to get in before price can stabalize. The group of bitcoin users (everyone who owns bitcoin, so also traders) is extremely small. As said before, when wall street gun slingers get in, the masses will follow. Once the masses follow the speculative value will decrease, and normal usage will increase. I think it needs at least 10x the value it has now before this stable position is reached. Either that or the masses don't follow, traders see that demand doesn't grow so everything gets dumped and bitcoin goes legs up.

[superresistant]

Even better than 2013?
BTC getting more widely accepted is good, but on the other hand, the value has to stabilize somewhere... if only we knew when and where.
The big question also is, will people keep using BTC as an investment (like I think 95% is doing now), mining yourself or buying low but still selling for fiat, or will it actually work out to be a widely accepted payment method.

For me the question is : Will FIAT money survive 2014 ?

[cr1776]

Even better than 2013?

BTC getting more widely accepted is good, but on the other hand, the value has to stabilize somewhere... if only we knew when and where.
The big question also is, will people keep using BTC as an investment (like I think 95% is doing now), mining yourself or buying low but still selling for fiat, or will it actually work out to be a widely accepted payment method.

I think all of the above.  The ratios might change, bit it will be used for all of these, plus more.

[VeryTripy]

I see how this can sound good - the price will rise and we'll get rich. But bitcoin might become an easily manipulated tool for the incredibly rich.
There are some heavy weight speculators/investors in the bitcoin market already. What you will see is that they control the price of bitcoin by driving it down with what looks like a panic sell and speculations on forums/other media about a crash. But before that they will make a headline about how BTC gonna be worth 100k soon, how promissing it is, expecting the price to rise. But when to sell, sell, sell ? - Once the good news(foundation for the rise of bitcoin price) stops or a big negative event about bitcoins appears in media. The 'china banning' thing? It was not that bad, but the trolls tried their best to make it look so and the investors were dumping bitcoin like mad. This resulted in an artificial panic sell mixed with real panic. But now everything is calm. The price is rising. There are hardly any ''the end is nigh'' trolls as they would not want to see the price of BTC fall just as they have bought it for 'pennies'. And now groups with even bigger appetites are here for a slice of the pie. Or atleast that is what the news say. Maybe they are already heavily invested. Feeding us up with hope - buy, piggies, buy - and they will crash it from 7000 back to 2000, just as we were expecting the price of 10k or even more. And the cycle will start all over again.

This view on things might be not so far from the truth and it might very off - it is my speculation on the events and environment of the bitcoin market. I am not a person you would consult with about any market events if it really mattered to you.

But if we assume that something like that might be happening. Does this mean that the bitcoin is gonna be controlled by the big banks? Does it destroy a fundamental part of the bitcoin idea? Or the price of it is not that important?

What worries me most is that the big banks will invest heavily, trip themselves and simulate a lot of damage and how this could harm the economy. And ask for regulations on bitcoins from the governments, but, of course, they will be the ones who gain something out of that deal. Could and will this happen?

[empoweoqwj]

I see how this can sound good - the price will rise and we'll get rich. But bitcoin might become an easily manipulated tool for the incredibly rich.
There are some heavy weight speculators/investors in the bitcoin market already. What you will see is that they control the price of bitcoin by driving it down with what looks like a panic sell and speculations on forums/other media about a crash. But before that they will make a headline about how BTC gonna be worth 100k soon, how promissing it is, expecting the price to rise. But when to sell, sell, sell ? - Once the good news(foundation for the rise of bitcoin price) stops or a big negative event about bitcoins appears in media. The 'china banning' thing? It was not that bad, but the trolls tried their best to make it look soo and the investors were dumping bitcoin like mad. This resulted in an artificial panic sell mixed with real panic. But now everything is calm. The price is rising. There are hardly any ''the end is nigh'' trolls as they would not want to see the price of BTC fall just as they have bought it for 'pennies'. And now groups with even bigger appetites are here for a slice of the pie. Or atleast that is what the news say. Maybe they are already heavily invested. Feeding us up with hope - buy, piggies, buy - and they will crash it from 7000 back to 2000, just as we were expecting the price of 10k or even more. And the cycle will start all over again.

This view on things might be not so far from the truth and it might very off - it is my speculation on the events and environment of the bitcoin market. I am not a person you would consult with about any market events if it really mattered to you.

But if we assume that something like that might be happening. Does this mean that the bitcoin is gonna be controlled by the big banks? Does it destroy a fundamental part of the bitcoin idea? Or the price of it is not that important?

What worries me most is that the big banks will invest heavily, trip themselves and simulate a lot of damage and how this could harm the economy. And ask for regulations on bitcoins from the governments, but of course, they will be the ones who gain something out of that deal. Could and will this happen?

If people manipulate as you suggest, just play along. Either:

1) Hold for long term, or
2) Short bitcoin during a panic sell session

Never ever panic sell.

Its  really not that difficult. But people are controlled by fear. That's why professional traders eat them for breakfast.

[LiteCoinGuy]

great news indeed. 2014 could be a good year for BTC

Even better than 2013?

BTC getting more widely accepted is good, but on the other hand, the value has to stabilize somewhere... if only we knew when and where.
The big question also is, will people keep using BTC as an investment (like I think 95% is doing now), mining yourself or buying low but still selling for fiat, or will it actually work out to be a widely accepted payment method.

i think so yes. but 10k next year? dont think so but who knows 

we will also see more regulation in 2014.

[VeryTripy]

If people manipulate as you suggest, just play along. Either:

1) Hold for long term, or
2) Short bitcoin during a panic sell session

Never ever panic sell.

Its  really not that difficult. But people are controlled by fear. That's why professional traders eat them for breakfast.

Well, I have 2 BTC. I am working on a regional developement and charity project. Non profit. But some aspects of this project are not cheap and I hope that bitcoin will rise in value and I will be able to finance the project with it. But will not hold it for long. I expect that the price of BTC might rise as soon as February comes and USA has problems with it's debt and government - ''The dollar crash apocallypse'' chapter XI. If the market is right - I will sell. Maybe the big players are aiming at similar events as well?

But do these big players possess a threat to the independancy of bitcoin? It's decentralization and function?

I am curious about bitcoin and am considering to start another project that would help the bitcoin grow. But I am not sure if I believe in the idea as much as I did a few months ago.

[coins101]

Clarity around regulation needs to happen first.

European and other regulators are being downbeat about digital coins at the moment. That impacts on the market price of coins.

Yes, I know - "we don't want regulation", "go and live in a society that conforms you to its laws, we are quite happy with Bitcoins", "their fiat currency is doomed to failure", "they just want to regulate it bitcoins so they can steal them"......etc.

When news about regulations is positive, the price goes up, when it is negative, the price goes down. To me, a non-expert in these things, it looks like the price will go up and investors will pile in, if there is some acceptable form of regulation that everyone can live with.

[superresistant]

Clarity around regulation needs to happen first.
European and other regulators are being downbeat about digital coins at the moment. That impacts on the market price of coins.
Yes, I know - "we don't want regulation", "go and live in a society that conforms you to its laws, we are quite happy with Bitcoins", "their fiat currency is doomed to failure", "they just want to regulate it bitcoins so they can steal them"......etc.
When news about regulations is positive, the price goes up, when it is negative, the price goes down. To me, a non-expert in these things, it looks like the price will go up and investors will pile in, if there is some acceptable form of regulation that everyone can live with.

The stability will come from mass adoption.

[empoweoqwj]

If people manipulate as you suggest, just play along. Either:

1) Hold for long term, or
2) Short bitcoin during a panic sell session

Never ever panic sell.

Its  really not that difficult. But people are controlled by fear. That's why professional traders eat them for breakfast.

Well, I have 2 BTC. I am working on a regional developement and charity project. Non profit. But some aspects of this project are not cheap and I hope that bitcoin will rise in value and I will be able to finance the project with it. But will not hold it for long. I expect that the price of BTC might rise as soon as February comes and USA has problems with it's debt and government - ''The dollar crash apocallypse'' chapter XI. If the market is right - I will sell. Maybe the big players are aiming at similar events as well?

But do these big players possess a threat to the independancy of bitcoin? It's decentralization and function?

I am curious about bitcoin and am considering to start another project that would help the bitcoin grow. But I am not sure if I believe in the idea as much as I did a few months ago.

Well since we started this discussion, its already been debunked that Fidelity would be pumping hundreds of millions of dollars into bitcoin, so we don't have to worry about Wall St for a while yet.

I don't see how Wall St getting involved could jeopardise the the independence, decentralization, or function of bitcoin. Let them join the party. More the merrier.

[Bitcoinpro]

Its not putting any money it to Bitcoin at all, read the article, sounds like TF and crew are moving to the upper end of town, major price shocks ahead if the Rich are going to get ripped off.