Stock Market Quotes & Financial News


4 gloomy predictions about bitcoin, which is not true

Since the invention of bitcoin in 2009, people have very different attitudes as to the cryptocurrency, and the blockchain technology on which it is based.

About the future of bitcoin and its price perception by many. And, of course, one looked into the future of digital money with optimism, while others believed that nothing good will come of it. Forecasts continue to build today, and with them are very famous in the industry people like Thomas Lee, and John McAfee.

But let’s get back to the past to see what you are saying about bitcoin then — and that this never happened. So, what he was talking about the darkest unfulfilled predictions?

1. Bitcoin — not the tenant (2011)

Edu Lauton/Unsplash

According to Forbes, in June 2011 the bitcoin has experienced one of the worst downturns in its history — for a few minutes, the coin’s value fell from $17 to a few cents. Incidentally, this decline began on the infamous exchange Mt. Gox, and long before the famous break.

At the end of this episode, Forbes confident cryptocurrency sentenced to death. In the journal wrote:

“…we set to the currency of certain requirements: it must be a medium of exchange and storage, safe and liquid. No currency may not be ideal in all respects, but if in one direction there is a strong shortage for a long time such a currency can not exist”.

Seven years later, bitcoin is worth more than $6,000 apiece and glances in the direction of growth. And if you believe That by the end of 2018, the price can reach 25 thousand dollars.

2. By the end of 2016 bitcoin will be worth one dollar (2015)

A curious statement was made in 2015, an anonymous Twitter user. According to him, “bitcoin is a repeat of the Internet bubble, and by the end of 2016 it will fall to one dollar per coin”.

Later this statement was deleted, probably because the prediction was not fulfilled in time, and may never come true. But it is preserved on Reddit.

3. Experiment with bitcoin came to an end (2016)

4 мрачных предсказания о биткоине, которые не сбылись Annie Spratt/Unsplash

This statement made Taavet Hinrikus, CEO TransferWire, just a few months after a well-known bitcoin developer Mike Hearn announced the death of bitcoin.

“I think we can say that bitcoin is dead. No one uses them, and the audience is not growing. I think we can say that the bitcoin experiment has come to an end.”

At the time of this statement, the cryptocurrency was worth $430.

In 2017, Hinrikus could watch what happened to his prophecy, and although prices are now much lower than at the peak, they are much, much higher than at the time of this prediction.

4. In 2014, the price of bitcoin drops to zero (2014)

Not news that the wall street attitude to bitcoin is not very optimistic, and after the collapse of Mt. Gox in 2014, the author of one of the blogs could write about how he warned, and no one listened, and as a result of hacking these people have lost everything. The author also quotes the then head of the Mt. Gox, Mark Karpeles:

“If you buy bitcoins, it is worth remembering that tomorrow they can go down to zero.”

However, as we know, cryptocurrency and today very much alive, and many believe that in the coming years it will only grow.


4 мрачных предсказания о биткоине, которые не сбылись Mariana Montes de Oca/Unsplash

Over the past seven years the bitcoin has come a long way, and 2018 is also challenging. Nevertheless, the fact that cryptocurrency has survived all these adversities, gives hope for the future, and 2019 and the future will show whether the right was already present forecasters.

Subscribe to our channel at Yandex.Zen. Best of the crypt and personal Finance exclusives and some lifestyle.

Let’s block the ads! (Why?)

Posted in News   

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2019 Stock Market Quotes & Financial News