The Crypto Crash: What People are Saying
“The government does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate use of these cryptoassets in financing illegitimate activities or as part of the payment system.”
Dr Doom” Nouriel Roubini
Roubini said Bitcoin is the “biggest bubble in human history” and this “mother of all bubbles” is finally crashing, in an interview on Bloomberg Television.
And it isn’t just Bitcoin, Roubini added. There are more than 1,300 cryptocurrencies or initial coin offerings, and “most of them are even worse” than the largest digital token. These constitute a “a bubble to the power of two or three,” he said.
A survey of more than one dozen financial experts conducted by International Business Times between January 25 and January 30 found that the majority are optimistic Bitcoin will regain much of its lost value by the midway mark of 2018. On average, the experts predicted Bitcoin will be valued at about $15,500 in six months.
The more loudly folks proclaim that Bitcoin is dying, the more dollars I dump for BTC. I’m not a professional trader, but this strategy has worked well for me over the years.
— Jameson Lopp (@lopp) February 5, 2018
John Biggs, Techcrunch
First, I don’t think this is the bottom of the fall. Expect things to hover around $5,000-$10,000 as the folks begin thinking long and hard about why they’re in the space. I suspect we’ll see a rise in interest as Wall Street bonuses are paid out this month and savvier investors “buy the dip.”
Financial Analyst, Martin Baccardax, has warned about the problems behind cryptocurrency amid its price falling. He said: “I think it’s a good point that the volatility has been around for some time but there is a great difference between trading at $1 and $3 then there is when trading at $9,000 and $19,000. “The potential for pain is a lot more significant and the stakes are significantly higher.
Nithin Eapen:, Chief Investment Officer at Arcadia Crypto Ventures
Claims that the cryptocurrency will always be volatile but said that Bitcoin was the future. He said: “This is nothing you see. It has just fallen 20 percent this week, maybe in the two months, it has fallen 50 percent. “I used to remember times when this was one dollar, then it goes to $10 and then it’s back to $3. Compared to that, this is nothing.
Cryptocurrency markets took a hammering Friday and have been on rocky ground over the past month. One key reason behind this is related to another cryptocurrency called tether and allegations that the people behind it are using tether to prop up the bitcoin market. Fears are rife that any collapse in tether could have huge ramifications for the bitcoin market.
Neu-Ner, Host of “Crypto-Trade” – CNBC
“We haven’t even got to the start line of cryptocurrencies,” Neu-Ner told CNBC on “Power Lunch” on Friday. Neu-Ner, who is host of CNBC Africa’s “Crypto Trader” and the founder of Onchain Capital, has been tracking bitcoin since last year. “The technology isn’t ready to go mainstream yet,” Neu-Ner said of the volatile crypto market.
Fred Wilson, venture capitalist
Asked by Business Insider why he thinks the bitcoin crash happened, whether bitcoin can rebound, and if there are any lessons that people can learn from the last few weeks of price drops, Wilson responded with an epigrammatic email:
“1/ I have no idea
2/ I have no idea
3/ easy come easy go”