Bitcoin will plummet to $10 by first half of 2014

[bitbouillion]

So I think first half of 2014 is really over now.

[1715281767]

1715281767

[1715281767]

1715281767

[1715281767]

1715281767

[Southpaw0]

What is promised with bitcoin, it will fall then go back up again then fall again then go back up again 

[SirChiko]

So I think first half of 2014 is really over now.

More than a month ago actually and it seems that we will be heading up in July.

[JorgeStolfi]

So I think first half of 2014 is really over now.

More than a month ago actually and it seems that we will be heading up in July.

You must be a programmer.  The first six months are 1 to 6, not 0 to 5. 

[Candystripes]

So I think first half of 2014 is really over now.

More than a month ago actually and it seems that we will be heading up in July.

You must be a programmer.  The first six months are 1 to 6, not 0 to 5. 

Aha 0 to 5, gave me a good laugh. "More than a month ago"

[Buffer Overflow]

What is promised with bitcoin, it will fall then go back up again then fall again then go back up again 

Bitcoin promises you it can be transmitted to another party, quickly and securely.

It makes no other promises. Never has, never will.

[jubalix]

What is promised with bitcoin, it will fall then go back up again then fall again then go back up again 

Bitcoin promises you it can be transmitted to another party, quickly and securely.

It makes no other promises. Never has, never will.

I think it also promises a rate of supply and multisig as well as some amount of other data can be sent.

[Denise520]

Who knows?

[sukamasoto]

by Victor Kerezov

Mark Williams, a risk management and capital markets professor at Boston University, is out with a bold call – he predicts that the price of one bitcoin will crash to $10 or even lower by the first half of 2014.
Williams is a risk management practitioner and academic with tw-decades of experience from working as a bank examiner at the US Federal Reserve to a commodities trading floor senior executive.
The finance professor observes that the buying and selling of the digital currency is “controlled by only a handful of exchanges in places like China, Slovenia and Bulgaria.” Exchange bankruptcies are not uncommon for the roller-coaster bitcoin market. In addition, the exchanges are based on a peer-to-peer model and regulation is virtually absent.
Bitcoin “has not been bear-market tested and if enough sellers try to run for the door it is not clear that existing infrastructure is capable of executing trade orders without significant time delays and price risk,” clarifies the former commodities trader.
Some bitcoin aficionados claim that the digital currency would replace the US dollar as the new global reserve currency, while others believe the digital form of money would provide a cheaper alternative to expensive payment platforms such as Western Union. “Adding more helium to the story, the Winklevoss twins of Facebook fame, not being shy about talking up their own book, predicted prices would rise to a staggering $40,000 per coin”, notes Williams
At the start of this month, bitcoin peaked at over $1,200 as “e-currency evangelists trumpeted the endless possibilities to be unleashed”. However, the price more than halved since then as the ‘Chinese regulatory pin’ burst the hyper bubble. In the view of the risk management expert, “the market has finally realized that hype alone cannot support lofty prices”.
Mark Williams then goes on to say that every asset bubble has three phases: “growth, maturity and pop”. He believes that 2013 was the maturity stage and we are now entering the time when the bubble pops. “Ironically, China, the second largest economy in the world, helped push Bitcoin prices to the clouds and now is pulling prices back to earth,” observes the former Fed bank examiner. In the last two weeks, the People’s Bank of China banned local banks from accepting the digital currency and then forbade third-party firms from transacting with bitcoin exchanges. In between the two announcement, Baidu, China’s Google equivalent, announced it would no longer accept bitcoins. Other major central banks and banking watch-dogs have taken a similar position like the PBoC, warning against the risks of the e-currency.

Williams then goes to proclaim that “if bitcoin was allowed to proliferate as a currency it would produce greater economic uncertainty, reduced trade and lower individual standard of living.” Retailers typically work on tight margins and the immense volatility of the e-currency could eliminate all their profit or even result in losses. In this bitcoin world of uncertainty and risk, commerce would ultimately decline and stone-age bartering would increase. “Naturally, as bitcoin price swings increased, the number of businesses willing to accept e-currency risk would decline”, assumes the former commodities trader.
“Bitcoin is not a legitimate currency but simply a risky virtual commodity bet”, argues the academic at Boston University. Even Winklevii’s call that it is a commodity currency may be unfounded because the wannabe currency does not have a tangible value like gold, which is a widely accepted alternative form of money.
Bitcoin is just backed by dreams and it is “only worth what people are willing to pay”, opines the former Fed bank examiner. “As it becomes increasingly evident that Bitcoin will not be the global currency standard, but simply a novel idea that will be improved upon by more nimble competitors such as Litecoin, restrictions and new regulations will be imposed and prices will plummet.”
“I predict that Bitcoin will trade for under $10 a share by the first half of 2014, single digit pricing reflecting its option value as a pure commodity play”, concludes Mark Williams.

http://invezz.com/news/forex/7726-bitcoin-usd-will-plummet-to-dollar-10-by-first-half-of-2014-predicts-risk-management-expert

I'll wait if it is so 

[Buffer Overflow]

What is promised with bitcoin, it will fall then go back up again then fall again then go back up again 

Bitcoin promises you it can be transmitted to another party, quickly and securely.

It makes no other promises. Never has, never will.

I think it also promises a rate of supply and multisig as well as some amount of other data can be sent.

I stand corrected.

[Bit_Happy]

What is promised with bitcoin, it will fall then go back up again then fall again then go back up again 

The roller coaster is expected since Bitcoin is so new, and humans go through repeated cycles of Fear and Greed.
Enjoy the ride. 

[transient858]

If Mark Williams is managing his own money, he would be dead broke by now.

As someone mention here before, those who can't do, teach.

No wondering the rest of the world laugh at our education system.

[gadman2]

If Mark Williams is managing his own money, he would be dead broke by now.

As someone mention here before, those who can't do, teach.

No wondering the rest of the world laugh at our education system.

Those who did, were taught. https://www.youtube.com/watch?v=RxsOVK4syxU

[spazzdla]

Why hasn't any news place mentioned this yet...

[Buffer Overflow]

Why hasn't any news place mentioned this yet...

What's there to talk about? Unless he decides to jump in front of a speeding train due to embarrassment.

[spazzdla]

Why hasn't any news place mentioned this yet...

What's there to talk about? Unless he decides to jump in front of a speeding train due to embarrassment.

Coindesk could do a little write up, no need to talk with him.

[Adrian-x]

Why hasn't any news place mentioned this yet...

What's there to talk about? Unless he decides to jump in front of a speeding train due to embarrassment.

Coindesk could do a little write up, no need to talk with him.

they did a little while ago, Professor Bitcoin actually sounded quite bullish.
he would have to be stupid to agree to an interview now with the intention of embarrassing him.
http://www.coindesk.com/mark-t-williams-on-the-flaws-and-opportunities-of-bitcoin/


http://www.coindesk.com/mark-t-williams-bitcoin-bulls-time-will-vindicate-prediction/

and then this he changed his prediction to “I am not alone in the view that bitcoin is in a hyper bubble that will eventually pop.”

later Professor Bitcoin admitted to Barry Silbert that he holds Bitcoin, so his public position and private position are not aligned. 

[LostDutchman]

by Victor Kerezov

Mark Williams, a risk management and capital markets professor at Boston University, is out with a bold call – he predicts that the price of one bitcoin will crash to $10 or even lower by the first half of 2014.
Williams is a risk management practitioner and academic with tw-decades of experience from working as a bank examiner at the US Federal Reserve to a commodities trading floor senior executive.
The finance professor observes that the buying and selling of the digital currency is “controlled by only a handful of exchanges in places like China, Slovenia and Bulgaria.” Exchange bankruptcies are not uncommon for the roller-coaster bitcoin market. In addition, the exchanges are based on a peer-to-peer model and regulation is virtually absent.
Bitcoin “has not been bear-market tested and if enough sellers try to run for the door it is not clear that existing infrastructure is capable of executing trade orders without significant time delays and price risk,” clarifies the former commodities trader.
Some bitcoin aficionados claim that the digital currency would replace the US dollar as the new global reserve currency, while others believe the digital form of money would provide a cheaper alternative to expensive payment platforms such as Western Union. “Adding more helium to the story, the Winklevoss twins of Facebook fame, not being shy about talking up their own book, predicted prices would rise to a staggering $40,000 per coin”, notes Williams
At the start of this month, bitcoin peaked at over $1,200 as “e-currency evangelists trumpeted the endless possibilities to be unleashed”. However, the price more than halved since then as the ‘Chinese regulatory pin’ burst the hyper bubble. In the view of the risk management expert, “the market has finally realized that hype alone cannot support lofty prices”.
Mark Williams then goes on to say that every asset bubble has three phases: “growth, maturity and pop”. He believes that 2013 was the maturity stage and we are now entering the time when the bubble pops. “Ironically, China, the second largest economy in the world, helped push Bitcoin prices to the clouds and now is pulling prices back to earth,” observes the former Fed bank examiner. In the last two weeks, the People’s Bank of China banned local banks from accepting the digital currency and then forbade third-party firms from transacting with bitcoin exchanges. In between the two announcement, Baidu, China’s Google equivalent, announced it would no longer accept bitcoins. Other major central banks and banking watch-dogs have taken a similar position like the PBoC, warning against the risks of the e-currency.

Williams then goes to proclaim that “if bitcoin was allowed to proliferate as a currency it would produce greater economic uncertainty, reduced trade and lower individual standard of living.” Retailers typically work on tight margins and the immense volatility of the e-currency could eliminate all their profit or even result in losses. In this bitcoin world of uncertainty and risk, commerce would ultimately decline and stone-age bartering would increase. “Naturally, as bitcoin price swings increased, the number of businesses willing to accept e-currency risk would decline”, assumes the former commodities trader.
“Bitcoin is not a legitimate currency but simply a risky virtual commodity bet”, argues the academic at Boston University. Even Winklevii’s call that it is a commodity currency may be unfounded because the wannabe currency does not have a tangible value like gold, which is a widely accepted alternative form of money.
Bitcoin is just backed by dreams and it is “only worth what people are willing to pay”, opines the former Fed bank examiner. “As it becomes increasingly evident that Bitcoin will not be the global currency standard, but simply a novel idea that will be improved upon by more nimble competitors such as Litecoin, restrictions and new regulations will be imposed and prices will plummet.”
“I predict that Bitcoin will trade for under $10 a share by the first half of 2014, single digit pricing reflecting its option value as a pure commodity play”, concludes Mark Williams.

http://invezz.com/news/forex/7726-bitcoin-usd-will-plummet-to-dollar-10-by-first-half-of-2014-predicts-risk-management-expert

Well, that horseshit didn't work out then, did it?

[PrimevalLeviathan]

    if it come be true  i will buy it use all  money

[LostDutchman]

  if it come be true  i will buy it use all  money

Yep!