The fall of bitcoin: Opinions of representatives of the crypto industry.

in #bitcoin6 years ago

bitcoin.jpg
This week, the main cryptocurrency has lost more than 12%, and with it down flew all the major altcoins.

To understand the reasons for such a sharp fall, David Morris from the online edition of Breaker spoke with investor Tim Draper, Castle Island Ventures partner Nick Carter, founder of Future Perfect Ventures Jalaka Janvanputra, founder and partner of Morgan Creek Digital Anthony Pompliano, as well as blockchain lawyer Preston Byrne about what they think about the sale in mid-November and the future of bitcoin.

What caused the price decline of bitcoin: anxiety in the market; decline of the shares of techcompany; manipulation whales; stop-loss; or none of the above?

Tim Draper: I think in the short term bitcoin can move in some combination of gold and tech stocks, but it's a currency and one bitcoin is one bitcoin. All Fiat political currencies will remain volatile against bitcoin as they fluctuate along with the loss of their importance. All movements are temporary; the downward movement gives the opportunity to buy bitcoin to people who are confident in a better future.

Jalak Janakpuri: Despite such major institutional statements (for example, the announcement Bakkt) in fact, the market is very little traffic; we saw a large institutional adoption, which many expect. In addition, stock market sales have made all investors nervous in this economic uncertainty.

Nick Carter: I think that with the departure of volatility it took too many dependent on this volatility, and their exit to Fiat was a matter of time. The sharp decline is at least partly due to the cascade liquidations of positions on the problem exchanges, which are optimized for this mechanics.

Anthony Pompliano: I don't think it's any of the above. This would be a natural historical volatility, but compared to the recent stability it feels much worse. In my opinion, there are many such surprises in this" bear " market.

Preston Byrne: I can assume this is due to behind-the-scenes regulatory measures that we, as a small fish, are simply not involved in.

Does this mean that we will not get the "Christmas rally" that many have been waiting for?

Draper: my only forecast is $250,000 by 2022.

Janakpuri: We are unlikely to see a major rally into the end of the year, although, if approved ETF, it could lead to market growth.

Carter: Why should the holiday season affect the price? If traders were waiting for the Christmas rally, the price should have been rising long before Christmas.

Pompliano: I don't think it's a real impulse. People just like to speculate online, and anything called a "Christmas rally" falls into that category.

Byrne: what are you saying, Morris? To the crypt Christmas every day.

How does this fall feel compared to previous cycles in 2014-2015? It bothers you?

Draper: No.

Janakpur: This was to be expected, because the speculators for a very long time dominated the market. The reality is that we are still far from understanding what the result will be pitocin, and when this understanding becomes more clear, we see the rating, is tied to its fundamental principles.

Carter: in 2014, I was worried about the possibility that bitcoin would be forgotten. Now I don't care, so compared to the past, it's a breeze. The concern should be caused by tokens without any apparent meaning.

Pompliano: Volatility welcome those people that are not affected by emotions and losses. In the "bear" markets survive those who invest in the long term.

Byrne: this is a very bad time for most people, as losses are greater and regulators continue to put pressure on the market. Personally, I, as a lawyer, do not invest, because it can affect my objectivity. So I feel good.

Your prediction on bitcoin exchange rate on December 31.

Draper: Again, my only prediction is that one bitcoin will cost $250,000 by 2022.

Ganapatya: Probably will go back to $6000-6500.

Carter: my best prediction is the current price.

Pompliano: Under $6000.

Byrne: $4325.

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