Tagbitcoin bubble

Bitcoin Price Due For 90% Price Correction In Mass Crypto Wipeout, Warns Investment Bank

Bitcoin price erase gains

The price of bitcoin and other cryptocurrencies will suffer a 90 percent correction that will cause a "mass market wipeout" within the next 12 months, says investment bank GP Bullhound. While the market correction will decimate many virtual currencies, the few survivors are in for an unprecedented rally, GP Bullhound predicts, as reported by CNBC. "Once this 'crypto-winter' passes, the growth...

‘Bubble’ or Not, Billionaire George Soros is Set to Start Trading Cryptocurrencies

George Soros Billionaire

George Soros thinks cryptocurrencies are a bubble. He’s about to start trading them anyway. The billionaire investors and business magnate won’t be trading them personally, of course, but Bloomberg reports that Adam Fisher -- who runs Soros Fund Management’s macro investing operation -- has secured internal approval to begin trading cryptoassets. Fisher reportedly received the go-ahead to begin...

$81 Billion Allianz Says Bitcoin is a Bubble, Search Engine Results Show Otherwise

On March 14, $81 billion investment firm Allianz stated in a report released by the firm’s global economics and strategy head Stefan Hofrichter that the cryptocurrency market, regardless of its liquidity, is a bubble. Intrinsic Value Again Hofrichter stated that cryptocurrencies like bitcoin lack intrinsic value, and that the base value of cryptocurrencies is zero. “In our view, its intrinsic...

Prescient Investor Predicts Stability and Bitcoin Price Back at $20,000

No need to hit the panic button. Ran Neu-Ner, a South African investor who was savvy enough to invest in his first bitcoin half a decade ago, said the recent volatility in the bitcoin price is nothing new and in fact, bitcoin is headed to $20,000 in 2018. He made the remarks to CNBC, where he also suggested that things could get worse before they get better, pointing to a floor for the bitcoin...

“Bitcoin and Its Sisters” Seem like a Bubble, Says Nobel Prize Winner Richard Thaler

Nobel prize-winning economist Richard Thaler recently weighted in on bitcoin and the cryptocurrency ecosystem. Speaking to Portuguese publication ECO, Thaler stated that after taking a close look at the markets, cryptocurrencies are what “most looks like a bubble.” Despite his analysis, he doesn’t know when the bubble might burst. Thaler, known for his work in behavioral economics, notably said...

Goldman Sachs Warns Wealthy Clients Against Cryptocurrency ‘Mania’

Goldman Sachs has warned its wealthiest clients against succumbing to cryptocurrency "mania,” which the investment banking giant claims has “moved beyond bubble levels.” Cryptocurrencies Will Not Retain Value Over Long-Term: Goldman Sachs The firm’s Private Wealth Management division issued this warning in “(Un)Steady as She Goes,” a 108-page note distributed this month to clients with more than...

Bitcoin Will ‘Totally Collapse,” Even if it Takes 100 Years: Nobel Prize Winner

Bitcoin price

Nobel laureate Robert Shiller is fairly confident bitcoin will collapse, but he’s not quite sure when that collapse will occur. Shiller, a Yale University professor who won the Nobel Prize for Economics in 2013, told CNBC that bitcoin will likely “totally collapse and be forgotten,” although it could linger for as long as 100 years. "It reminds me of the Tulip mania in Holland in the 1640s, and...

Former FDIC Chair Argues against Banning Bitcoin

Sheila Bair, former director of the U.S. Federal Deposit Insurance Corporation (FDIC), recently argued that bitcoin shouldn’t be banned because of its "lack of intrinsic value.” Instead, the government should ensure a well-informed market, free from fraud, manipulation. and speculation. In an op-ed piece for Yahoo Finance, Bair initially pointed out that bitcoin is a bubble, given its meteoric...

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