and what do you think about this now? (Bitcoin Will Crash To $10 By Mid-2014 )

[xb0x]

Here is article where a professor (Williams, a former commodities trading floor senior executive and Federal Reserve bank examiner, teaches finance at Boston University School of Management ) has predicted that Bitcoin price will crash to $10 by mid-2014?

http://www.businessinsider.com/williams-bitcoin-meltdown-10-2013-12?IR=T#ixzz2np1O4HvS

[t1000]

It would be more probable to speculate that oil will drop to $10 a barrel next year. At least there is the potential new arctic oil incoming.

[cr1776]

Here is article where a professor (Williams, a former commodities trading floor senior executive and Federal Reserve bank examiner, teaches finance at Boston University School of Management ) has predicted that Bitcoin price will crash to $10 by mid-2014?

http://www.businessinsider.com/williams-bitcoin-meltdown-10-2013-12?IR=T#ixzz2np1O4HvS

This guy is just upset he doesn't understand it.  ;-)

This has a discussion about the article too:
https://bitcointalk.org/index.php?topic=390126.0

There was a discussion about it, it wasn't this article, but it refers to the same prediction:
https://bitcointalk.org/index.php?topic=378368.0

[bryant.coleman]

It would be more probable to speculate that oil will drop to $10 a barrel next year. At least there is the potential new arctic oil incoming.

lol.... The cost of Arctic drilling is expected to be well over $100 a barrel.

Back to the topic, BTC might dip to $300-350 levels, that is the levels before the China boom. I don't see any possibility of it declining further.

[Frost000]

Yup, I see it being stable anywhere between $300-500 until there's another bubble.

And as adoption and mainstreaming will make leaps in 2014, I don't think it'll crash too hard. Most definitely not to $10.

[BrightAnarchist]

This is entirely probable based on technical analysis alone, but not that quickly. Maybe in two years

[EvilPanda]

Everything can become obsolete in time . Someday people probably won't be using wired internet at all, so all these cable companies will have to move on. Same thing with car  engines - we will have to switch to electric, methane or alcohol because oil is expensive and produces fumes. BTC may crash but only if something better comes out and if that happens we should have enough time to switch.

[t1000]

It would be more probable to speculate that oil will drop to $10 a barrel next year. At least there is the potential new arctic oil incoming.

lol.... The cost of Arctic drilling is expected to be well over $100 a barrel.

There you go, that's how probable it is.

[seleme]

sold everything, will buy at 10.2$ to screw those who are waiting for 10$. Muahahaha suckers 

[Cryptolator]

I would be happy to buy a lot of them at 10$ !

[Ibian]

The problem with "experts" is that they know nothing outside their field. Understanding bitcoin requires a bit of economy, politics, psychology and a few other things which I am too drunk to properly identify at the moment. Their loss.

[traderCJ]

This is entirely probable based on technical analysis alone, but not that quickly. Maybe in two years

Any price can be justified with TA.  Got anything specific or is this another magic 8 ball call?

[samson]

Saying it's impossible for Bitcoin to go to $10 is naive, anything is possible.

[nastybit]

Here is article where a professor (Williams, a former commodities trading floor senior executive and Federal Reserve bank examiner, teaches finance at Boston University School of Management ) has predicted that Bitcoin price will crash to $10 by mid-2014?

http://www.businessinsider.com/williams-bitcoin-meltdown-10-2013-12?IR=T#ixzz2np1O4HvS

This guy is just upset he doesn't understand it.  ;-)

I think he perfectly understands it and he is using his "position" to manipulate others.
It has been already used in the past and it has worked flawlessly

[piramida]

Here is article where a professor (Williams, a former commodities trading floor senior executive and Federal Reserve bank examiner, teaches finance at Boston University School of Management ) has predicted that Bitcoin price will crash to $10 by mid-2014?

http://www.businessinsider.com/williams-bitcoin-meltdown-10-2013-12?IR=T#ixzz2np1O4HvS

This guy is just upset he doesn't understand it.  ;-)

I think he perfectly understands it and he is using his "position" to manipulate others.
It has been already used in the past and it has worked flawlessly

Yeah right now a multibillion market would move at a whim of a mad professor's blabbering He might have as well been a troll on this forum, same effect on the price, i.e. none to exactly opposite.

Saying it's impossible for Bitcoin to go to $10 is naive, anything is possible.

Oh? Heard of probabilities much? The crazy professor in the article is stating that it certainly will reach 10, implying 100% certainty, while in fact, the probability of such event is somewhere in the range of 0-1%.

[GigaCoin]

this article seems to creep up at every corner in every forum lol

[kireinaha]

Yeah, what does he know, he's only a professional commodities traders with decades of experience handling millions of dollars worth of assets.

The "real" experts are the guys here who spend hours every day on this forum and the BTC-E trollbox. 

He could be right, I honestly don't expect it to fall that hard next year given that it seems that interest is still growing quite well, but even if it does, I'm prepared. Bring it on.

[Ibian]

Yes, actually. The problem with expertise is a too narrow focus. Understanding bitcoin requires a bit more than just a formal education.

[bryant.coleman]

sold everything, will buy at 10.2$ to screw those who are waiting for 10$. Muahahaha suckers 

You sold everything for $750 apiece? I believe that you are making a mistake. Be around here. I'd like to have a chat with you after 2-3 months. 

[shmadz]

I think the chances of this professor being right are much higher than most others might think.

Please consider his conclusion in the final paragraph of his "essay", this part in particular.

I predict that Bitcoin will trade for under $10 a share by the first half of 2014,

Once you realize that by mid 2014 a "share" of bitcoin will be considered 0.001 BTC a.k.a. a millibit, then you will see that the professor's predictions have at least a 50-50 chance of being correct.

 

(*Also, considering that bitcoin crashes up, the comment that bitcoin could crash up to $10 per mBTC by the middle of next year might not be so preposterous.*)