Despite BTC going under 5K a number none of us ever expected to see, well I should say most of us, he still holds on to his 15k year end prediction. Now the body language of the recent interview on CNBC may not show the confidence he normally exudes, but at least he is sticking to his guns, right?
We know factually that institutional investment is around the corner, and even though BAKKT has been delayed, the reasons for it could be logically justified. I happen to understand the argument for the lack of legislative clarity. Think about this for a second, can an Institution gamble with such amounts, when they don't know if tomorrow a law could pass destroying the infrastructure they would require to build for these financial products they are planning? Probably not, at least not responsibly so.
What will it be?
Do you think BTC will go back up before years end? It is completely possible, these prices are very tempting to people who understand how this whole crypto thing works. I would not be too surprised if it turned around starting the first week of December, but of course, just like you, I would not have a way to know this.Regardless of the short term valuation of BTC, I'm sure that in the long term it will go back up. Why? Because it always has, the markets are cyclical and truth be told, people are greedy. It would probably just take a couple of green days for euphoria to kick in, probably.
At any rate, I'll be here looking at charts, attempting to "predict" when this whole thing is about to go crazy. Why? Maybe because I'm crazy too....
There are many things to come than bakkt which I think is as important as bakkt. Bakkt still doesn't have the game in its hand.
The whales are the one who's manipulating the market and as the days are passing whales are loosing their shortening strength. So, now it's becoming very important for the whales to long their bitcoins. I think it's the only reason lee is still predicting 15,000$ before the end of this year :)
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@meno it’s just human nature to run with the herd, one sheep runs and every one runs. I always try to be logical, LOL and still I make the wrong decisions. I think all the markets are very heavily manipulated. If I were going to manipulate the prices down at this time of year, I would hold them down till close to Christmas. A lot of people would capitulate, THEN I would scoop up the bargain’s just before Christmas and set up a nice price run........... Just @silvertop’s opinion........🙃
Resteemed 👍
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I truly believe that Lee was quite uncomfortable there. Not because he doesn't believe in his prediction, as most youtube commentators wrote - but simply because the people he talked with - they are non-believers.
They only see the price. The incredible rise of BTC and the crash the followed afterwards. But they are not realising that crypto is not about lambos or becoming rich, but about a revolution. And revolutions take time.
Watch this video - it's a presentation from Lee very recently and it's incredibly good!
And I'd advise not reading the youtube comments in your linked video - many people who bought the news and are mad about lost money.
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they were kind of passive aggressive with him, no doubt... he handled it as good as anyone could given the situation.
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I don’t think it will get there before year end as there are still some hurdles to get through for that type of demand. Particularly considering that short sellers have been profitable this year, they will be aggressively shorting any bounce we have. However, 2019 will be a different story...
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you may be crazy meno, and you may be talking about things that I will NEVER fully understand, but Im right behind you buddy! (when I say right behind you, of course, Im actually slaloming in and out of the mulberry bushes about 500ft behind you with a weelbarrow over my head - but you get the idea. I HEAR YOU)
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....and as a matter of confirmation, I have just POWERED UP 799.092 STEEM POWER. Kaboom
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hellz ya!
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Good to hear. Lots of good people powering up lately. They can use their influence to get Steem on the right track
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yeah! I guess I came back and paid some attention at a good moment, I swapped my little chunk of bitcoin for a goodish steem conversion and then swapped my SBD for a half decent bitcoin conversion, just in time i think! (I know you lot do this sort of thing all the time, but its very novel for me to actually do any trading, and EVEN MORE novel for it to work out well for me! haha)
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I don't do the trading stuff. I've acquired some small amounts of various coins, but I'm holding those for now. I don't have enough to be really worth powering up in Steem.
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I bet it will go for at least 8k. I doubt it will go for 15k, though.
Lee is just protecting his investments. Believing his word would make us wait for the 15k - but he will probably sell sooner than that, leaving us only with scraps.
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Interesting points all round in that interview.
If Bitcoin seems to be treated by the markets as a commodity and an IT-related stock at the same time, is the natural expectation that it will continue moving on the same general trend as those markets?
Booms and busts are a natural sine wave of the market, but we're in uncharted and unregulated territory -- will crypto continue to fall until there's serious regulation and institutional investors, the traditional Market Makers, will join en masse? A bit of an ironic fate for this industry.
There's lots of things to ponder here.
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🏆 Hi @meno! You have received 0.3 STEEM reward for this post from the following subscribers: @cardboard
Subscribe: automatically support steem authors + earn profit :)
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Hi @meno!
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He looked extremely extremely nervous in his prediction...
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The irony is I have made at least three good calls about BTC this year and some how people still listen to this clown. I need to get on CNBC somehow ;-)
Atleast I have the music and money show on MSPWaves :-)
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HAVE a nice weekend ...
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