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Author Topic: Bitcoin loses 10% of its value after being called "rat poison" by Warren Buffett  (Read 159 times)
chickenado
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May 20, 2018, 06:09:07 AM
 #21

Bitcoin loses nearly 10% of its value after being called "rat poison" by Warren Buffett.
Ending the US session on May 5, Bitcoin closed at over $ 10,000 per coin. However, only on 6/5, the currency was blown 6% value before losing 2% in May 7th session. Currently, Bitcoin prices are trading at $ 9,300. Bitcoin's bad slump comes after the annual meeting of legendary investor Warren Buffett. Reply to CNBC, CEO of Berkshire Hathaway for Bitcoin with "rat poison."
So what do you think?


I think the price went down prior to your post..We have better days and bad day and this day is just another of those bad days but im still pretty positive the price will improve soon so I just hold and wait its what i have always do.

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May 20, 2018, 07:30:28 AM
 #22

I am agreed with @Pooya87. Price of btc has changed a lot what you are saying about. You should follow the content properly before posting. However, I think price went down a bit after being commented by Warren Buffett. But it will recover soon, I think .
This is not new to us. Why is Mr. Buffett keep attacking bitcoin technology? Is he planning to enter or make his own platform?
Anyway, the price went down after his statement was not as big that can shaken the crypto and there's so many factors that can affect the bitcoin price.

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May 20, 2018, 06:53:06 PM
 #23

The big bourgeois understand how to manipulate the market by just rendering statement in the public arena or media and that will either make or destroy the process and progress of the market.

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May 21, 2018, 09:55:15 AM
 #24

First off, Bitcoin didn't lose 10% of its value after some old guy calls it some random label. You think if Buffett one days says Apple is shit that its shares will even shed 1 cent? Besides, if he had that intended effect, he could easily just do Jamie Dimon and crap on Bitcoin every time he wants to buy it.

On a less serious note... seeing as rat poison is actually an ingredient common in several popular comestibles/consumables such as tobacco, recreational drugs and even "medicinal", I suppose one shouldn't really be afraid of these things. We're all taking some sort of poison. I'd say listening to irrelevant figures like Buffett is a form of poisoning.

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May 21, 2018, 12:35:53 PM
 #25

I think that he already had forgotten that once you invest on a high volatile market, prices would go up or down by 10%, but what important is that your investment will recover and that it won't die, i think he is saying this because his stocks are also being affected by cryptocurrencies, because once people will shift from investing in the stock market and to cryptocurrency the value of his stocks will fall or it might remain stagnant, since he is prominent figure in investing people still follow him, I think he got threatened because traditional investors had seen great opportunty in the crypto market, since they can start where warren buffet had started and that is from scratch, unlike in the stock market the companies that have great potential are already costly and companies are doing insider trading unlike in crypto currency.
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May 21, 2018, 02:28:00 PM
 #26

on one hand it is understandable that people like Warren Buffet don't understand bitcoin and don't see it as an investment. being old ancient apart, he considered companies that are giving some product or service as investment not a currency. so he probably sees Forex the same way too.

on the other hand calling it things such as "rat poison" and saying "it won't end well" is just silly because we all know that bitcoin is the best technology that could have happen in economy field and also we can see that all around the world people and the government are adopting it with open arms.

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May 21, 2018, 03:57:36 PM
 #27

on one hand it is understandable that people like Warren Buffet don't understand bitcoin and don't see it as an investment. being old ancient apart, he considered companies that are giving some product or service as investment not a currency. so he probably sees Forex the same way too.

on the other hand calling it things such as "rat poison" and saying "it won't end well" is just silly because we all know that bitcoin is the best technology that could have happen in economy field and also we can see that all around the world people and the government are adopting it with open arms.

If you're even more unforgiving as I can sometimes be when it comes to guys and their sweeping statements like these, you might even say that these dinosaurs know precisely what Bitcoin is, and have always understood its ideals and its overarching potentials. Which is why they fear it and can sense that their end is nigh - even if they won't live to see it, the natural instinct for their empire to thrive long after they've gone will require them to attack Bitcoin as they should, for the threat it poses to their very way of life.

They want history to see them as the champions they've begun to believe they are, and don't want to be remembered as part of a failed institution that consistently brings countries and lives to ruin.

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May 22, 2018, 02:36:49 AM
 #28

Anyone who follows markets is familar with this dynamic to news.  A price moves and the people writing stories come up with a reason why, only like 5 or 10% of the effect is likely the actual basis for the movement.

Most of a price move is related to traders who borrow money one day and must pay it back the next.  Hot Money is what its called, the price going down every Friday before the weekend is a normal thing for example.
Bitcoin does trade 24/7 but banks and various employees wont be trading it at that point.    If you want a proper estimate use weekly or at least daily bars to get a good perspective.

Warren is not a fan of technology especially and will not call out the failures of US dollar, so his views are quite predictable.

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thomas daniel
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May 23, 2018, 12:15:48 PM
 #29

Warren Buffett is always opposed to Bitcoin and he emphasized that digital money does not bring anything beyond speculation. Even, the legendary investor warned that a "bad ending" would come with Bitcoin and other types of money. I think this is a subjective assessment of his opinion and he should pay more attention to his speech.
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May 25, 2018, 05:40:55 AM
 #30

Warren Buffett is always opposed to Bitcoin and he emphasized that digital money does not bring anything beyond speculation. Even, the legendary investor warned that a "bad ending" would come with Bitcoin and other types of money. I think this is a subjective assessment of his opinion and he should pay more attention to his speech.

Well i don't think buffet's statement caused btc to go below 9k towards this level. I mean, the guy has made several statement's against crypto before so i think people don't really take him that seriously anymore same as jamie dimon and roger ver.

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