Wall Street Guru Says Bitcoin (BTC) Prices Will Never Go Back To All Time High of Near $20,000
Yahoo Finance’s Dion Rabouin, Rick Newman, Dan Roberts while speaking on 8th September about the views of financial institutions on cryptocurrency and Bitcoin (BTC) and why Wall Street gurus hold some skeptic beliefs about digital currency.
Also, they spoke on the current price and surge in price of Bitcoin around December 2017, opining that the prices of Bitcoin may possibly rice in the future but will not go back to $20,000.
“It is unfair for people to expect it to reach that $20,000 mark, there is strong evidence on how the market had been manipulated by a lot of investors who had huge holdings thus resulting in the prices to increase drastically.”
Dan furthered saying there are three fractions in the Bitcoin world. He added that the first fraction is that of the speculators who buy and hold Bitcoin as an investment, then the second are those who look at Bitcoin as an innovation meant for the future. He then said the third fraction contains those individuals who see Bitcoin as a scam but love the blockchain technology.
He echoed that a large number of people in the Wall Street see Bitcoin as a scam.
After that Rick Newman, a revered columnist in Yahoo finance was questioned on his views on Bitcoin, he said:
“I am interested in what this looks like five years from now, I really don’t care about how it looks a month from now.”
He then maintained that blockchain technology was very useful in digitizing companies in the future. Dion highlighted the long-term scenario and how Jordan Belfort, popularly called the wolf of Wall Street said the crypto industry is a complete scam.
“Thousands of individuals with successful businesses, investments and companies were now completely devoted to cryptocurrency thus making it very important to acknowledge such an industry.”