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How the fuck is some guy, or anyone for that matter supposed to know where the Bitcoin price is going to go? Yeah it could go to 1,000 or even 100... it could a

How the fuck is some guy, or anyone for that matter supposed to know where the Bitcoin price is going to go? Yeah it could go to 1,000 or even 100... it could also go to 100,000 by next month. There are so many factors at play it’s extremely difficult to make a prediction with a high degree of confidence. If this guy thinks it’s going to drop to $8000 just because the price fell 20% in one day he must be new to this. There have been many many cases where the price dropped like crazy and then picked back up within no time.

jondubois 9y ago
By making the prediction, it can become a self-fulfilling prophecy. He is probably just trying to make the price drop more so that he can buy even more Bitcoin. The end of the year is often a time when people get together... Bitcoin is bound to come up in conversations. So I think that there might actually be a big rise in interest after Christmas.
- charlesdm 9y ago
  What do you do when you're raising a $500m fund and the train is leaving without you?
- madaxe_again 9y ago
  The last few days have been delightful for longer term holders - it’s just been wave after wave of panic selling, with everybody seemingly forgetting that there are futures contracts out there for Jan delivery at $16k+. I think what we’ve just seen is a bit of a forced sell off, to drive the price down before the next big speculative bubble, which will likely mirror the one after thanksgiving.
- Fnoord 9y ago
  "After Christmas" is vague. Its likely people are going to buy a lot right after dec 31 because taxation upcoming this year is about what's owned from before jan 1. The IRS et al is also going to receive some large sums of money over Bitcoins in 2017. Disclaimer: I don't know any cryptocurrency.
scotty79 9y ago
I read what he said as: 'Since btc dropped 20% in a day I might have trouble to find suckers to participate in mu "fund", I need to lay low for a bit till this all "you can loose on bitcoin" blows over.'

jondubois 9y ago

By making the prediction, it can become a self-fulfilling prophecy. He is probably just trying to make the price drop more so that he can buy even more Bitcoin. The end of the year is often a time when people get together... Bitcoin is bound to come up in conversations. So I think that there might actually be a big rise in interest after Christmas.

charlesdm 9y ago
What do you do when you're raising a $500m fund and the train is leaving without you?
madaxe_again 9y ago
The last few days have been delightful for longer term holders - it’s just been wave after wave of panic selling, with everybody seemingly forgetting that there are futures contracts out there for Jan delivery at $16k+. I think what we’ve just seen is a bit of a forced sell off, to drive the price down before the next big speculative bubble, which will likely mirror the one after thanksgiving.
Fnoord 9y ago
"After Christmas" is vague. Its likely people are going to buy a lot right after dec 31 because taxation upcoming this year is about what's owned from before jan 1. The IRS et al is also going to receive some large sums of money over Bitcoins in 2017. Disclaimer: I don't know any cryptocurrency.

scotty79 9y ago

I read what he said as: 'Since btc dropped 20% in a day I might have trouble to find suckers to participate in mu "fund", I need to lay low for a bit till this all "you can loose on bitcoin" blows over.'