[2015-03-09] Forbes: Is The S&P 500 Bitcoin's Crystal Ball?

[polynesia]

Is The S&P 500 Bitcoin's Crystal Ball?

http://www.forbes.com/sites/valleyvoices/2015/03/09/is-the-sp-500-bitcoins-crystal-ball/

I believe Bitcoin’s recent price behavior is reminiscent of the performance of U.S. equities markets six years ago. Bear with me here. On January 16, 2015,  in the wake of bitcoin closing at $172 two days earlier — having shed almost three-quarters of its value in just seven months and 46% in the first 14 days of the new year — USA Today published an article entitled, “Bitcoin is Headed for the ‘Ash Heap’”. Sound familiar?

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[lyth0s]

I thought bitcoin really looked more like the NASDAQ index than the S&P500 when they overly the lows like that, not sure why the author picked the SP500 instead.

After all, it is just six years old. But when I look at Bitcoin’s venture capital investment — more than the internet at a similar age — increased developer interest, its growing merchant and user adoption, and generally favorable comments by regulators, it’s clear that its long-term prospects are stronger than ever. There is no proven way to time the markets. But if time travel were possible, wouldn’t we all like to go back to invest in equity markets at historic lows? The question is, if we had a crystal ball to allow a peek at the world in 2025, would we kick ourselves for not investing in bitcoin today?

[Lethn]

Bitcoin is nothing like equities so they can't be compared and this is part of the problem with talking to people about them, they're trying so hard to compare it to things that they already know and don't realise this is a brand new technology.

[unamis76]

Bitcoin is nothing like equities so they can't be compared and this is part of the problem with talking to people about them, they're trying so hard to compare it to things that they already know and don't realise this is a brand new technology.

Came here to post exactly this. People do not seem to understand that both are almost opposites and there's no crystal ball.

Looks like Forbes is trying to make people believe there are crystal balls

[Carlton Banks]

Looks like Forbes is trying to make people believe there are crystal balls

And that "fiat currency" means "made-up money".

I've said this before: the Forbes writing staff get paid. Why?