December 12, 2017

Price target for Bitcoin at $21,119 | Bubble and Risky Asset

Bitcoin- Its not a currency, its a speculative and risky asset class - that in the fullness of time will collapse despite protestations from the Bitonions!.

The year 2018 will be one in which investors come to understand that blockchain technology is real  but that bitcoin is a mirage and will become, like many past schemes, a byword for Ponzi-like nostalgia.

The preoccupation with bitcoin is flat out dumb. It is nothing more than the speculative meal du jour. It will fizzle out and drop dramatically and then the biz media will move on to the next dumb asset class. The coverage is naive and embarrassing.


Bitcoin is now only $4,250 from my price target of $21,119. 
Maybe by next Monday?

I am not short (or long) bitcoin.


via twitter

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