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Save this story for later. All speculative market manias produce signature characters. From the Yale economist Irving Fisher, who, in October, 1929, pronounced that stock prices had reached âwhat looks like a permanently high plateau,â to Charles Prince, the chief executive of Citigroup, who, in July, 2007, remarked, âAs long as the music is playing, youâve got to get up and dance,â these individuals are forever tied to the bubbles they got caught up in. When the story of bitcoin is written, there will be many crypto boosters to choose from, such as the Winklevoss twins; the hedge-fund manager Paul Tudor Jones; and Cathie Wood, a pioneer of funds devoted to investing in disruptive companies. Right now, though, the individual most clearly associated with bitcoinâs travails is Elon Musk, the C.E.O. of Tesla and SpaceX. ....
Bitcoin Goes from Trendy to Tacky in Just Three Months, Analyst Says On 5/20/21 at 1:59 PM EDT The late mogul s insight into the rag trade may also apply to Bitcoin. It took Bitcoin a mere three months to go from trendy to tacky, said economist Dr. Marion Laboure, a researcher at Deutsche Bank. Deustche Bank Just as a fashion faux pas can happen suddenly, we just received the proof that digital currencies can also quickly become passé, Dr. Marion Laboure, an analyst at Deutsche Bank in London, said in a research report. It took Bitcoin a mere three months to go from trendy to tacky. ....
Safe in our asset management bubble, it would be easy to remain aloof to the seismic shifts we have seen in finance, be it Reddit uprisings or the soaring prices of Bitcoin. As we head into our second year of the Assessment of Value process, indications post-year one are not promising. Survey results suggest adviser engagement is very low. In a world where the FCA hopes that end investors engage, not even their advisers are reading reports. We may have achieved the letter of what the FCA asked for, but not the spirit. An undiscovered country? Putting that vanilla blancmange aside, imagine assessing the value of the complex world of cryptocurrency and tokenisation. How would we even start? ....
Majority of Crypto Investors Believe Bitcoin Will Top $100K This Year, Survey Says On 4/26/21 at 1:51 PM EDT The Tinkerbell effect theory of investment may apply to Bitcoin, according to the results of a survey conducted by GamblersPick, a website devoted to online gaming. The survey of 1,015 people found that 54.3% of crypto investors believe Bitcoin will climb to $100,000 this year. The survey offers no analysis of the cryptocurrency s fundamentals or outside forces affecting its price, such as a proposed increase in the capital gains tax, or a recent disruption in Bitcoin mining and isn t intended to because it looks only at sentiment. ....