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Author Topic: [2018-05-02] Doomsayers Predict Crypto Extinction Event in “Mass Market Wipe Out  (Read 107 times)
ruthbabe
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May 20, 2018, 04:12:38 PM
 #1

According to investment banking company GP Bullhound, cryptocurrency prices are set to suffer a massive 90% correction that will lead to a “mass market wipe out” in the next 12 months... Read the full news report here, https://cryptoslate.com/investment-bank-doomsayers-predict-crypto-extinction-event-in-mass-market-wipe-out/



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May 20, 2018, 05:05:11 PM
 #2

It's good to see that traditional analysts and economists can sometimes provide a good analysis of altcoin and ICO market instead of bashing Bitcoin all the time. Even non-experts can see that ICO market resembles dotcom and other bubbles, with its explosive growth yet little success stories. The hard part is to predict when exactly this bubble will burst, some though that it will happen in 2017, but instead it only grew bigger. Maybe it won't burst in 2018, but regardless, people should understand that hodling altcoins and tokens is a bad idea, they always tend to go down against Bitcoin in the long run, and they always have inherent risk of crashing to the ground. Bitcoin is safer and more profitable, there's no reason to get involved with alts unless you are highly skilled trader who can get quick results while the market is still bullish.

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May 20, 2018, 07:28:25 PM
 #3

I wonder where this firm is positioned in the crypto market lol. Instead of pump and dump, dump and dump.

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May 20, 2018, 09:22:44 PM
 #4

According to investment banking company GP Bullhound, cryptocurrency prices are set to suffer a massive 90% correction that will lead to a “mass market wipe out” in the next 12 months... Read the full news report here, https://cryptoslate.com/investment-bank-doomsayers-predict-crypto-extinction-event-in-mass-market-wipe-out/

Now this is a firm with a clear contra view. Have they put their money where their mouth is and taken a short position? I don't think anybody will have the guts to do this.
The report also has a few other interesting predictions - apart from the price view. The report predicts that corporate ICOs will soon become prevalent. It will be interesting to see if this happens.


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May 20, 2018, 10:44:37 PM
 #5

I'm pretty shocked that anything ICO related still has any value at all. Almost all of them are worthless shit but it still doesn't seem to have dawned. I don't think there has to be a wipeout, stuff can simply dwindle away but then again that's never really been crypto's style.

What's vital is that a handful of projects do deliver some genuine value and utiilty so there's a clear marker between shit and non shit to create a healthier purge. Not sure that's going to happen.

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May 20, 2018, 10:57:14 PM
 #6

prices are set to suffer a massive 90% correction that will lead to a “mass market wipe out” in the next 12 months...
Well that's too fast we do only have 12 months left or do have the chance to sell all of our altcoin holdings.  Smiley
Im little bit tired of this non-stop news about speculations came from analyst or any famous personalities/economist/groups which they do always love to say negative things about crypto.I don't say its not possible but we do have still long way to go for us to develop.We may see some flaws when it comes to price growth but as long the support is there,it wont easily fade away or wipe out .


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May 21, 2018, 05:57:58 AM
 #7

LOL. From a banking company? Where is the credibility from that? I thought humans are only the main topic of extinction/doomsday/judgement day but now these bankers are doing it to cryptocurrencies.

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May 21, 2018, 02:40:48 PM
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LOL. From a banking company? Where is the credibility from that?

Maybe they know a thing or two about markets in general? They're all made up of humans and they tend to act the same no matter what they're trading.

But equally I'm not so sure anyone has a clue what's going to happen with this particular market. It's too new, too raw and too crooked. It could carry on booming for no particular reason but at some point a price has to be paid for that.

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May 21, 2018, 04:30:40 PM
 #9

This is all assuming that every cryptocurrency is just an ICO with speculative value and no real-world use. One can be very confident that any cryptocurrency with genuine economic uses would survive an event such as is suggested (so Bitcoin and maybe only a handful of others, really)

It's unlikely to happen as a single event though, the market is too diverse for that. Experimental coins have been dying very slowly for years now, if ICO bans cannot precipitate "mass extinction", it's difficult to see what possibly could trigger such a possibility. After all, there's little evidence that ICO bans have ever been effective (but plenty of evidence that the worldwide market for ICO launches has carried on without issues, other than the high likelihood of simply failing to catch the market's attention of course).

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May 21, 2018, 07:21:34 PM
 #10

This is all assuming that every cryptocurrency is just an ICO with speculative value and no real-world use. One can be very confident that any cryptocurrency with genuine economic uses would survive an event such as is suggested (so Bitcoin and maybe only a handful of others, really)

It's unlikely to happen as a single event though, the market is too diverse for that. Experimental coins have been dying very slowly for years now, if ICO bans cannot precipitate "mass extinction", it's difficult to see what possibly could trigger such a possibility. After all, there's little evidence that ICO bans have ever been effective (but plenty of evidence that the worldwide market for ICO launches has carried on without issues, other than the high likelihood of simply failing to catch the market's attention of course).

This "mass extinction" might be similar to how the dotcom bubble have bursted - there was no major trigger, speculators just saw that the market it turning bearish so they have started selling more and more, and there was no strong fundamentals to prevent it from crashing, and it's quite similar with todays altcoin markets - most of coins are just boring clones with a few tweaked parameters and promises to deliver some awesome features later. I think sudden mass extinction is more likely than slow decline.

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May 22, 2018, 03:33:12 PM
 #11

I wonder where this firm is positioned in the crypto market lol. Instead of pump and dump, dump and dump.

It's obvious. I think they have a huge investment in a certain coin (or more) which they wanted it to go on top that's why they are creating FUD online.

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May 22, 2018, 03:45:00 PM
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ICO's are dependent on ETH.

ETH is going to try to solve their scaling problem (Cryptocats, lol), by attempting a hybrid Proof-of-Work and Proof-of-(mis)Stake system. This hasn't been done before, and if Money Skeletor Vitalik screws it up, it could lead to a lot of problems for everything built on top.

Not exactly a position I'd want to be in. Besides, a lot of ICO's are complete cash-grabbing muppetry - and we've seen our share of exit-scams using them. Will ICO's totally go away? No, not in concept, but there is a very real risk that ETH might lose that market with their scaling attempt.

The long tail of dead altcoins will grow, that's for sure.

Supplemental Reading - Why ETH's "Sharding" won't work - https://medium.com/@StopAndDecrypt/the-ethereum-blockchain-size-has-exceeded-1tb-and-yes-its-an-issue-2b650b5f4f62

(or EOS, or BCH, or... most alts)

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May 23, 2018, 08:37:42 PM
 #13

I think words " Cryto market wipe out"  is too strong since this market still is too new.
I think most of us know that the market mostly is driven by greed and share will to make fast buck and this is nothing new in the world of investing.
The real question is at which point are we, are we in the end of the bubble and will soon see the real value of this market or we are at the start and the new bubble is just around the corner.

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