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‘Crypto is Unstoppable’ — Bitcoin Will Hit $100K, Says Cardano Founder
#1
These two articles points in different directions. I think that Charles Hoskinson is right!

"Crypto is Unstoppable — Bitcoin Will Hit $100K, Says Cardano Founder

Ethereum (ETH) co-founder turned Cardano (ADA) creator Charles Hoskinson said that he expects Bitcoin (BTC) to be back over $10,000 and reach $100,000 in the future.
In a tweet published on Nov. 22, Hoskinson urged the cryptocurrency community that Bitcoin is more than speculation, putting the blame on the latest drop in price on news media “FUD” — or fear, uncertainty and doubt — and market manipulation. 
A global movement
Because there’s more to Bitcoin than just price movements, he expects the world’s biggest cryptocurrency to see more gains in the future. He said:

Quote:
“Bitcoin's price is going down? Remember everyone, after the FUD, news trading and manipulation clears out, we still have a global movement that's going to change the world. We will see 10k btc again and welcome 100k. Crypto is unstoppable. Crypto is the future.”

Bitcoin’s recent price action

As Cointelegraph reported, Bitcoin and altcoins have seen a notable price decrease yesterday. More precisely, Bitcoin briefly dipped below $7,000 before settling slightly higher.
Still, as Cointelegraph’s market analysis pointed out, Bitcoin dominance is up for the week at 69%, meaning that BTC has once again outperformed other cryptocurrencies during the despite its decline this week.
Shortly after the price drop, Bitcoin futures daily volumes on digital asset platform Bakkt have hit a new all-time high, showing an increased interest in capitalizing on the renewed volatility.
In October, Hoskinson also expressed the idea that if Bitcoin fails, the entire cryptocurrency industry could fail."



Then there is this one:

"Bitcoin Isn’t Down Because of China, It’s Down Because You Don’t Need It


Crypto markets are not reeling this week because China is “cracking down on Blockchain.” Tokens have been getting slammed since the summer because most of them are unnecessary, and because the need for coins that may offer some utility is not as imminent as buyers thought it would be. This is most obvious with King Crypto, bitcoin, whose purported use-case as a store of value is not looking very compelling.



The risk-reward in bitcoin has always been an extreme one, which is why its biggest proponents/salespeople assigned astronomic price targets to it. Widespread adoption is an extremely low-probability event with an enormous payoff if the stars align. And let’s be clear: the things that need to happen for the world to turn to bitcoin – complete central bank impotence, widespread currency debasement, falling equity markets and the abandonment of traditional gold – means betting on bitcoin is essentially betting against the house. Hence the “short bankers, long bitcoin” meme. To say bitcoin will offer a 100x return yet also say it’s a highly probabilistic event is inherently contradictory and hugely dishonest.



The market is now realizing this. As the global economic slowdown of the last nine months shows signs of stabilization and the Federal Reserve sees no need for more interest-rate cuts, the case for bitcoin is taking body blows. None of the stories about adoption are turning out, big tech giants from Facebook to Google are doing everything possible to dominate electronic pay and finance, and projects designed to make bitcoin a means of exchange are either slow, fruitless, or both.



In short, the house does not look like it’s in a losing position just yet. And so bitcoin is getting killed. Sure, the U.S. and China could have a major fallout, get into a currency war, and Chinese citizens could rush to crypto as a way to get money out of the system. That’s why bitcoin will never be worthless, and why every investor should watch its price action, but that scenario is looking way, way further away from reality than the cryptoknights had so many believe.



Bitcoin’s violent moves are a factor of the speculative nature described above. Because its probability of success is low, it is closer to a roulette wheel than any traditional asset class. Average people were lured into the bitcoin sales pitch in 2017 when the economy was tearing hot, cash flow was heavy, stocks were churning out huge gains, and people could afford to take a gamble. Why not roll the dice?


Now those buyers are losing faith in their chances of winning, and are using this year’s rally to get out. As the fundamental reason for owning bitcoin as a store of value also loses luster amid a stabilizing economic situation, the true believers may start bailing out too. If it continues, it should be a warning sign to more traditional investors who made a similar bet in gold, and maybe even those who ran to Treasury bonds as a hedge against chaos, too."

https://cointelegraph.com/news/crypto-is...ounder/amp


https://www.forbes.com/sites/oliverrenic...ed-it/amp/
Cardano is the most promising 3 gen. crypto right now.


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#2
(2019-11-24, 10:27 AM)Carsten Wrote: These two articles points in different directions. I think that Charles Hoskinson is right!

"Crypto is Unstoppable — Bitcoin Will Hit $100K, Says Cardano Founder

Ethereum (ETH) co-founder turned Cardano (ADA) creator Charles Hoskinson said that he expects Bitcoin (BTC) to be back over $10,000 and reach $100,000 in the future.
In a tweet published on Nov. 22, Hoskinson urged the cryptocurrency community that Bitcoin is more than speculation, putting the blame on the latest drop in price on news media “FUD” — or fear, uncertainty and doubt — and market manipulation. 
A global movement
Because there’s more to Bitcoin than just price movements, he expects the world’s biggest cryptocurrency to see more gains in the future. He said:

Quote:
“Bitcoin's price is going down? Remember everyone, after the FUD, news trading and manipulation clears out, we still have a global movement that's going to change the world. We will see 10k btc again and welcome 100k. Crypto is unstoppable. Crypto is the future.”

Bitcoin’s recent price action

As Cointelegraph reported, Bitcoin and altcoins have seen a notable price decrease yesterday. More precisely, Bitcoin briefly dipped below $7,000 before settling slightly higher.
Still, as Cointelegraph’s market analysis pointed out, Bitcoin dominance is up for the week at 69%, meaning that BTC has once again outperformed other cryptocurrencies during the despite its decline this week.
Shortly after the price drop, Bitcoin futures daily volumes on digital asset platform Bakkt have hit a new all-time high, showing an increased interest in capitalizing on the renewed volatility.
In October, Hoskinson also expressed the idea that if Bitcoin fails, the entire cryptocurrency industry could fail."



Then there is this one:

"Bitcoin Isn’t Down Because of China, It’s Down Because You Don’t Need It


Crypto markets are not reeling this week because China is “cracking down on Blockchain.” Tokens have been getting slammed since the summer because most of them are unnecessary, and because the need for coins that may offer some utility is not as imminent as buyers thought it would be. This is most obvious with King Crypto, bitcoin, whose purported use-case as a store of value is not looking very compelling.



The risk-reward in bitcoin has always been an extreme one, which is why its biggest proponents/salespeople assigned astronomic price targets to it. Widespread adoption is an extremely low-probability event with an enormous payoff if the stars align. And let’s be clear: the things that need to happen for the world to turn to bitcoin – complete central bank impotence, widespread currency debasement, falling equity markets and the abandonment of traditional gold – means betting on bitcoin is essentially betting against the house. Hence the “short bankers, long bitcoin” meme. To say bitcoin will offer a 100x return yet also say it’s a highly probabilistic event is inherently contradictory and hugely dishonest.



The market is now realizing this. As the global economic slowdown of the last nine months shows signs of stabilization and the Federal Reserve sees no need for more interest-rate cuts, the case for bitcoin is taking body blows. None of the stories about adoption are turning out, big tech giants from Facebook to Google are doing everything possible to dominate electronic pay and finance, and projects designed to make bitcoin a means of exchange are either slow, fruitless, or both.



In short, the house does not look like it’s in a losing position just yet. And so bitcoin is getting killed. Sure, the U.S. and China could have a major fallout, get into a currency war, and Chinese citizens could rush to crypto as a way to get money out of the system. That’s why bitcoin will never be worthless, and why every investor should watch its price action, but that scenario is looking way, way further away from reality than the cryptoknights had so many believe.



Bitcoin’s violent moves are a factor of the speculative nature described above. Because its probability of success is low, it is closer to a roulette wheel than any traditional asset class. Average people were lured into the bitcoin sales pitch in 2017 when the economy was tearing hot, cash flow was heavy, stocks were churning out huge gains, and people could afford to take a gamble. Why not roll the dice?


Now those buyers are losing faith in their chances of winning, and are using this year’s rally to get out. As the fundamental reason for owning bitcoin as a store of value also loses luster amid a stabilizing economic situation, the true believers may start bailing out too. If it continues, it should be a warning sign to more traditional investors who made a similar bet in gold, and maybe even those who ran to Treasury bonds as a hedge against chaos, too."

https://cointelegraph.com/news/crypto-is...ounder/amp


https://www.forbes.com/sites/oliverrenic...ed-it/amp/

So! Do you still think holding is a bad strategy?
What is this thing that builds our dreams, yet slips away from us?

Reply
#3
Holding is not a bad strategy if Charles is right. The whole point of the post is that we have two directions for crypto. Who is right?
Cardano is the most promising 3 gen. crypto right now.


Reply
#4
FYI
https://medium.com/swlh/the-4-possible-s...e93298b347
What is this thing that builds our dreams, yet slips away from us?

Reply
#5
Just because crypto is the future does not mean BTC has a golden future too. It has done better than I thought but $100k? Surely not.
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#6
(2019-11-25, 02:40 PM)BobBobert Wrote: Just because crypto is the future does not mean BTC has a golden future too.  It has done better than I thought but $100k?  Surely not.

Of course it will go to 100K.
Not next week, but it will.
What is this thing that builds our dreams, yet slips away from us?

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#7
I hope for Eth to go to 100k instead of btc..... or even Litecoin :-)
Cardano is the most promising 3 gen. crypto right now.


Reply
#8
(2019-11-25, 09:29 PM)Carsten Wrote: I hope for Eth to go to 100k instead of btc..... or even Litecoin :-)

When BTC reaches 100K, ETH will reach 10K.
What is this thing that builds our dreams, yet slips away from us?

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#9
(2019-11-26, 06:30 PM)Hugues Wrote:
(2019-11-25, 09:29 PM)Carsten Wrote: I hope for Eth to go to 100k instead of btc..... or even Litecoin :-)

When BTC reaches 100K, ETH will reach 10K.

That would be great!
Cardano is the most promising 3 gen. crypto right now.


Reply
#10
Absolutely, I still have my 4 ETH so I could exchange them for a Porsche!
I just cannot see BTC hitting 100k though. It has got to get too slow to be usable long before then.
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