FOR ANALYST TOM LEE, BITCOIN COURSE LOWER IS "EXTREMELY HEALTHY"
Contrary to many observers who warn that Bitcoin would be promised a slow and painful death, analyst Tom Lee recently said it was "a consolidation For digital currency, and that it was "extremely healthy".
"The smallest bubble I have ever seen"
In an interview with Bloomberg on Dec. 22, when the Bitcoin price had risen in days from $ 20,000 to $ 13,000, Tom Lee, the research director of the consulting firm Fundstrat Global Advisors, said that there was no need to worry.
He explained that the strong appreciation of the first cryptocurrency in 2017 was logical because it "had not followed the value of its network" for several years.
"If you look at the evolution of the number of wallets, but also the number of transactions per wallet, this explains 94% of the price changes of Bitcoin over the last 4 years," he said.
And indeed, we can easily see the increase, for several years, the number of confirmed transactions on the Bitcoin network:
This is a cheering comment for "crypto-enthusiasts", probably tired of hearing in recent days that the "Bitcoin bubble" is about to break out for good.
For Lee, such warnings would not be related to prudence, but rather to ignorance.
"If people say that Bitcoin is purely speculative, they have not done their job properly," he continued, citing research done by Fundstrat in recent months.
"[...] if anyone dares to say that Bitcoin is a bubble, it's the smallest, least sustained of all the bubbles I've seen. "
Henry Blodget: Bitcoin could fall back to $ 100
At the time of writing, Bitcoin was trading at around $ 14,000, and seemed to have managed to reverse the downtrend that prevailed last week.
Henry Blodget, CEO of Business Insider, also recently gave his opinion on developments in the price of digital currency.
It will be remembered that he told CNBC last May, when the exchange rate was about $ 2700, that it had "no intrinsic value", and that investors would do better. 'stop Kool Aid [a flavored drink] and stay away from it'.
The former financial analyst now seems to make more nuanced remarks:
"Bitcoin could be promised a glorious future and could change the world, but this trend could be a sign of a massive bubble, and its price could fall back to $ 100," he said recently, before the compare to the internet bubble of the late 1990s.
"These two events are not incompatible; they could both happen. "
References: Bitcoinist, Blockchain.info, CoinMarketCap
People often confuse Bitcoin with crypto currencies. Bitcoin could in a sense be in a bubble, but in no way are crypto currencies in a bubble. In my opinion If you get into crypto 6 months from now you will be an "early adopter". The people I know who are in Bitcoin are either people who have heard me talk about it or people who were given small amounts years ago when it was very cheap. Also while there may be whales their really is very little institutional money in Bitcoin. Wait till next year when we have EFT's!
When buying crypto and holding it is as easy as buying stock in Microsoft this will go through the roof. For many people it is just to complicated and confusing.
The only reason why Bitcoin could be "in a bubble" is there are better crypto' s out there and in the future being first may not be enough to secure it's long term future. But even if that does happen, it will not be a bubble, it will simply be over priced compared to the competition.
I think that the tech "bubble" is a good comparison. Many of those dot com stocks went to zero but look at the stock market today. Facebook, Amazon, Microsoft. Tech is king and so will crypto. The secret will be to pick the winners from the losers. Those that pick wisely will be rewarded greatly. But buy and hold will most likely be a mistake in many cases.
In my humble opinion blockchain will be as big as the internet. Technology is the future of our economy and blockchain is the future of technology.
Blockchain is the future of technology. It's certain
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i think the price of bitcoin will up to 20000 dollars
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