Ex-Coinbase CTO Argues Bitcoin Will Likely Hit $100,000 Using Coronavirus

[shimakun]

https://beincrypto.com/ex-coinbase-cto-argues-bitcoin-will-likely-hit-100000-using-coronavirus-spread-pattern/

Bitcoin to $100k (Based on Stochastic Model)
Angel investor, cryptocurrency trader, and former Coinbase CTO Balaji S. Srinivasan underlined this similarity between the BTC price and the spread pattern of coronavirus earlier today in a series of tweets.

[shimakun]

Bitcoin Nutjobs ,

do you really believe every fairy tale fantasy , that a Bitcoin Nutjob sprouts.

We are not even going to see $20K , much less $100K.
The amounts being sold off due to government confiscation or Hackers Sim Card attacks is already over $100 million.
This halving is not going to do anything for you, except make more btc miners go bankrupt.

Sorry to break it to you, if you want to survive you going to need a job, getting rich and living off Bitcoin riches is over.
If you have not already made a $1 million with bitcoin, sorry you never will , that phase has passed.

Before even Bitcoin broke to 1000$ there was the biggest hack (mtgox) hundreds of millions  lost.
But still Bitcoin reached 20k
And nobody expected governments to support btc . As it's their nightmare.

[Darker45]

https://beincrypto.com/ex-coinbase-cto-argues-bitcoin-will-likely-hit-100000-using-coronavirus-spread-pattern/

Bitcoin to $100k (Based on Stochastic Model)
Angel investor, cryptocurrency trader, and former Coinbase CTO Balaji S. Srinivasan underlined this similarity between the BTC price and the spread pattern of coronavirus earlier today in a series of tweets.

First, there is no point using the spread of COVID-19 as reference. That, to me, is completely irrelevant and even ludicrous. I wonder why it has to be forcibly squeezed into the explanation.

Second, I am not so familiar with Stochastic Model but I kind of understand that it is somehow similar to a guess or a conjecture. As such, although mathematical, it is not really an absolute formula. I don't agree that since something crosses a certain threshold it is expected to reach a certain point. And so it does not necessarily follow that since Bitcoin crosses $10,000 it will hit $100,000.

[pakhitheboss]

https://beincrypto.com/ex-coinbase-cto-argues-bitcoin-will-likely-hit-100000-using-coronavirus-spread-pattern/

Bitcoin to $100k (Based on Stochastic Model)
Angel investor, cryptocurrency trader, and former Coinbase CTO Balaji S. Srinivasan underlined this similarity between the BTC price and the spread pattern of coronavirus earlier today in a series of tweets.

This is one of those crypto news website that are always copying post from different new source and then spinning them, just like CCN. What happened to CCN is know to everyone in this community. The same might happen to beincrypto.com in the future if they do not stop publishing such shit articles.

By the way who cares what they say?

All of us here believe in Bitcoin and the technology that is running it. Creating FOMO by giving random statement does not affect the market anymore.

[BrewMaster]

nowadays any newbie who buys some bitcoin considered themselves as "traders" and "experts" then start making statements where shitty news sites desperately publish as analysis.
this one in particular is the worst of them all! it could have made some sense if he was expecting a small rise due to the Coronavirus but it makes zero sense to expect such an enormous rise because of such an irrelevant thing!

[shimakun]

https://beincrypto.com/ex-coinbase-cto-argues-bitcoin-will-likely-hit-100000-using-coronavirus-spread-pattern/

Bitcoin to $100k (Based on Stochastic Model)
Angel investor, cryptocurrency trader, and former Coinbase CTO Balaji S. Srinivasan underlined this similarity between the BTC price and the spread pattern of coronavirus earlier today in a series of tweets.

This is one of those crypto news website that are always copying post from different new source and then spinning them, just like CCN. What happened to CCN is know to everyone in this community. The same might happen to beincrypto.com in the future if they do not stop publishing such shit articles.

By the way who cares what they say?

All of us here believe in Bitcoin and the technology that is running it. Creating FOMO by giving random statement does not affect the market anymore.

I read news in this website everyday but since you say it's copyiing from other sites
Well... Thank you for the review. 

[shimakun]

nowadays any newbie who buys some bitcoin considered themselves as "traders" and "experts" then start making statements where shitty news sites desperately publish as analysis.
this one in particular is the worst of them all! it could have made some sense if he was expecting a small rise due to the Coronavirus but it makes zero sense to expect such an enormous rise because of such an irrelevant thing!

I don't know who you referring to to a newbie .but you registered just after 2016
Let me tell you something I registered before 2013 and lost my account because of a hack in this forum
Contacted the forum administrator and they told me to make a new account better.  
For me you are the newbie who post at any post to spread his referral or signature compaign .

And it's not my statement better be smart.  

[Tipstar]

Bitcoin has increased everytime when people felt unsecure. The effect of coronavirus has already being seen in gold as people are buying more of the precious metal to store their wealth as the economy of the affected regions would go into deep recession. The value of money would decrease in such case but bitcoin could be a better form of value than gold as it's limited in supply and easy to carry, buy, sell and hide.

[iamaruf]

https://beincrypto.com/ex-coinbase-cto-argues-bitcoin-will-likely-hit-100000-using-coronavirus-spread-pattern/

Bitcoin to $100k (Based on Stochastic Model)
Angel investor, cryptocurrency trader, and former Coinbase CTO Balaji S. Srinivasan underlined this similarity between the BTC price and the spread pattern of coronavirus earlier today in a series of tweets.

Do you guys really believe this kind of prediction? I don't believe this.Because I heard same news thousands of time.like bitcoin will hit 1m$ 100k$ in this month or year bla bla. why they predict so high? they want to viral in crypto news or they wanted to know that they are still in crypto era? I think smart traders are not going to believe this kind of high prediction.

[watergold]

Bitcoin has increased everytime when people felt unsecure. The effect of coronavirus has already being seen in gold as people are buying more of the precious metal to store their wealth as the economy of the affected regions would go into deep recession. The value of money would decrease in such case but bitcoin could be a better form of value than gold as it's limited in supply and easy to carry, buy, sell and hide.

I think in times like these conditions people would prefer gold because prices tend to be stable even in the midst of this inflationary crisis, is it possible that bitcoin will be better at times like this? I don't think so, where there is no news about global markets or economies, bitcoin always tends to go down but those who confidently buy and take advantage of opportunities like this for the long term and the price of bitcoin will be stable if world market conditions are stable.

[boris2470]

https://beincrypto.com/ex-coinbase-cto-argues-bitcoin-will-likely-hit-100000-using-coronavirus-spread-pattern/

Bitcoin to $100k (Based on Stochastic Model)
Angel investor, cryptocurrency trader, and former Coinbase CTO Balaji S. Srinivasan underlined this similarity between the BTC price and the spread pattern of coronavirus earlier today in a series of tweets.

A stupid comparison does not make sense. I don’t see how you can compare completely different things, this is not reasonable. Drop this out and try to separate coronavirus and BTC next time

[Zicadis]

Based on the fact that the coronovirus appears to be tanking practically every market whether traditional or crypto, I highly doubt it.

Today's bearish price action is somehow being attributed to the scare surrounding the virus, so whywould it suddenly change?

Lookslike he's just grasping at straws since his business directly benefits from such BS speculation.

[kryptqnick]

https://beincrypto.com/ex-coinbase-cto-argues-bitcoin-will-likely-hit-100000-using-coronavirus-spread-pattern/

Bitcoin to $100k (Based on Stochastic Model)
Angel investor, cryptocurrency trader, and former Coinbase CTO Balaji S. Srinivasan underlined this similarity between the BTC price and the spread pattern of coronavirus earlier today in a series of tweets.

I don't even know how to react. I think that it's good if it's a weird joke because comparing the virus outbreak and Bitcoin price is wrong on many accounts. First of all, there's no direct connection between the two. The outbreak might affect mining long-term, but mining does not have a direct impact on the price. Then, the number of sick people has literally nothing to do with the number of dollars per coin, and the very idea of such a comparison seems morally questionable to me. The only idea in the tweet with which I could agree is that with Bitcoin being $10k it is more likely that we'll see it being worth $100k than it used to be before Bitcoin cost that much.

[rdbase]

https://beincrypto.com/ex-coinbase-cto-argues-bitcoin-will-likely-hit-100000-using-coronavirus-spread-pattern/

Bitcoin to $100k (Based on Stochastic Model)
Angel investor, cryptocurrency trader, and former Coinbase CTO Balaji S. Srinivasan underlined this similarity between the BTC price and the spread pattern of coronavirus earlier today in a series of tweets.

A stupid comparison does not make sense. I don’t see how you can compare completely different things, this is not reasonable. Drop this out and try to separate coronavirus and BTC next time

I think this is why he is the former CTO of Coinbase.
There is not a direct correlation but it follows how the other markets are doing because if people cant go to work due to lockdowns of factories then how would they get money to buy bitcoin cause the price to go up in the first place?

[sunsilk]

The virus is a trend now and anyone who wants to correlate it about bitcoin pricing might think it will go viral. I don't see the relation between the bitcoin price rise and the virus and that's not the whole point. I think I've read some news about the fiat money getting infected by the virus and this is why bitcoin is a better option for them to avoid further incident.

The model used on that article was compared about the spread of the virus which many thought that it wouldn't spread that quick and the chance of bitcoin going $100k. I believe that someday we will get there but I think this kind of comparison is invalid.

[TravelMug]

It's just the media blowing it out of proportion and somewhat creating this panic, as we have seen that the price is taking a hit, still going down in the last 48 hours or so. So I guess the Ex-Coinbase CTO argument is flawed in the beginning.

The only thing that we can correlate to the price, if ever it peaked this year is the bitcoin block halving. Although past performance is not a true measure of future success, but I do believed that it is the only news worthy to be called out and be debated, not this corona virus or other news.

[bbc.reporter]

Bitcoin has increased everytime when people felt unsecure. The effect of coronavirus has already being seen in gold as people are buying more of the precious metal to store their wealth as the economy of the affected regions would go into deep recession. The value of money would decrease in such case but bitcoin could be a better form of value than gold as it's limited in supply and easy to carry, buy, sell and hide.

However, the corona virus has made people in some parts of the world feel insecure already.

Whales, where is the pump? Are you busy shorting? Bitcoin the safe haven should be pumping in this situation hehehe.



The most hotly discussed topic in the cryptocurrency industry right now is the fate of Bitcoin: how will it respond to the global calamity? As of late, it seems to be performing below expectations and has been poorly correlating with global risk.

According to analyst Ben Davenport (@bendavenport), this moment will prove difficult to Bitcoin since it is caught in the middle. He writes that “[it] is neither a risk-on nor a risk-off asset at this point.” Macro concerns simply cannot be incorporated into the asset because it is manipulated by ‘whales and leveraged traders.

Source https://beincrypto.com/bitcoins-safe-haven-status-tested-amid-coronavirus-driven-market-decline/


 

[Lizzylove1]

Another frivolous predictions. Why don't they predict next month price or 2 months from now price and lets see if their words stay relevant! You predict the price of bitcoin and go behind to sell and when the price dumps, you blame either the weather or the government. I just do my own trade and daily routine and ignore some out of this world predictions. Just want to trade bitcoin and enjoy my life.

[FlightyPouch]

It doesn't mean the price is increasing at this point, it doesn't mean it is because of the epidemic that is happening. That is just like Pewdiepie getting back from uploading and the price is now falling, ooh, or is it? 

[Vishnu.Reang]

I don't know much about its impact on Bitcoin, but if this goes on for another month, then the global economy will be destroyed. Airline companies have incurred a bone-breaking loss of $30 billion so far, and it is climbing with every passing day. More and more countries are implementing lock-downs, and the latest are Italy, South Korea and Japan. We may witness a recession pretty soon.