All the Wall Street Banksters are Right but for the Wrong Reasons

There are so many articles coming out from Wall Street banksters and pundits who are calling for Bitcoin $5,000, $10,000, $50,000, $500,000, $1,000,000 etc. etc. etc.

Here is some links to just a few:

http://www.businessinsider.com/bitcoin-price-goldman-sachs-2017-7

http://www.cnbc.com/2017/05/31/bitcoin-price-forecast-hit-100000-in-10-years.html

http://www.cnbc.com/2017/05/25/bitcoin-price-correction-record-high.html

http://www.investopedia.com/news/bitcoins-price-could-cross-100000-10-years/

The thing about these articles is they usually have three main purposes. One, they use sensational titles as clickbait to get you to look at what they are saying. Two, to set wild markers so that in the off chance they get their price calls right they can point to their old articles and get "I told you so" credit in the analyst community. Three, they are trying to talk their own book in order to get the general populace to move like pigs to the slaughter.

Let's first address number one: If the article they write is titled "Bitcoin to Remain Volatile Though Long Term Prospects Promising" that seems like well thought out title. But that won't get the same number of clicks as "Bitcoin to $10,000 by 2018!!!." So in order to get the traffic they use the super exciting headlines.

Now for number two: In the investment analyst community, people get a lopsided amount of credit when they are right about extreme predictions on trendy investments vs when they are wrong. So if an analyst says "Google going to $1,500 in a Year" and then is wrong, he can just say "well I wasn't the only one saying that so don't look at me." If he is right, he can now say "I told you so." Also if Google only makes it to say $1,300 the analyst can still say "well I got the direction right!" So the risk/reward of the analyst making an extreme bullish call is skewed in favor of always making extreme predictions in the popular direction. What would be amazing is if someone comes out with an extreme bullish or bearish call that no one is covering and is proven right, but unfortunately that is a more rare event.

Now for number three. Some of these banksters and analysts take up a position in the asset that they are writing about, and then pump it up through articles only to unload their positions later for a higher profit. In the short term, this usually causes a price crash because their positions are usually quite large. So unsuspecting readers who invest in the assets after reading the articles are left with a loss. Because the articles don't address the fundamentals of why the asset is a good investment, the readers don't have strong convictions and sell in panic at a low. Guess who they sell to? That's right, the banksters! Now that the banksters made a round of profit and now buy back at lower prices, they can write another series of positive extremely worded articles. Rinse and repeat.

Their price predictions of bitcoin and other cryptocurrencies rising are totally correct in my opinion, but what they aren't telling you in the articles the true reasons why. Also, they are not explaining the nature of the volatility in fiat terms. What these banksters do is hype something up and then drop the bottom out and repeatedly play this game.

What is the average investor to do? Well find out WHY you think Bitcoin or any other investment you are making makes sense to YOU. Then, HODL (cryptospeak for "hold") for dear life through all the volatility because the banksters will do everything they can to shake you loose of your position at the worst possible moment. IF you truly beleive in something, then be ready to hold all the way to zero if you have to. Only sell when it reaches the value that YOU think its worth.

Cheers!