So The Mainstream Media Has Become "Bitcoin Bubble" Experts Now? By Gregory Mannarino.
It's funny, and it's almost too stupid to be stupid.
If you were to pay attention to virtually any of the mainstream media outlets and supposed financial experts, you will generally hear them say: "it is impossible to recognize economic/financial bubbles."
Well, all of a sudden it seems that the supposed MSM financial experts have all become "bitcoin bubble" experts! Story after story have been reported on, and published, about a supposed "Bitcoin Bubble."
These same MSM "experts" who have stated unequivocally that bubbles are impossible to recognize are now saying that Bitcoin is in a bubble! And this to me is frankly laughable.
Several months ago I wrote an article in which I said Bitcoin will hit $5000 and then move higher, and I stand by that prediction. Last week Bitcoin hit $4500, and in no way is Bitcoin in a bubble.
WHY BITCOIN IS NOT IN A BUBBLE...
I have gone over the fact that in order for a bubble in anything to exist, two factors must be in play AT THE SAME TIME.
These two factors are:
- The asset must be widely held, and
- The assets price action must move above the ability for the average person to acquire it.
Bitcoin, does not fall within either of these parameters which must be in place simultaneously for a bubble to occur.
So again, the supposed mainstream financial experts who continually push the narrative that "no one can recognize a bubble," have now become Bitcoin bubble experts! And I personally find this ridiculous.
Gregory Mannarino @marketreport
They're just advancing the narrative they want the masses to believe so others won't invest in BTC, plain and simple. Their games work on the uninformed, but as time goes by more and more people are slowly waking up.
bitcoin bubble is fake news
Bitcoin is proof the bankers, politicians, and msm have no clue what they are doing and talking about.
Although the MSM track record says it all. A dead clock is still right twice a day ;p
I am with you Greg. Do you think there will be a buy the dip on the next fork about to happen?
Where is Steem, Litecoin, & Ethereum going?
Nice one
Greg you spoke words of great wisdom and very sound advice and never stop telling it how it really is, we love you for it. and we upvoted and re steem
you are smart!
I have to disagree with your definition of a bubble. I was at ground zero for the real estate bubble in Florida and by your definition we were never in a bubble for real estate. I do agree that I do no think bitcoin is in a bubble but I do not know what price it should be, that is up to the market.
The difference betwixt the real estate bubble and the bitcoin bubble was that everybody that wanted to buy a home was able to do so via the easy money policies. Bitcoin hasn't even proven to the "aveJoe" who knows about it that it can be anything more than a pain in the ass. You have slow transactions, lost or stolen privacy keys, you have to shuffle shit around just to get it converted to cash...which of course is everyone's main objective since all the cryptos are still priced in dollars. The windup is that one of Greg's two criteria for a bubble to be present CAN'T actually occur right now because even though there are millions of people who know about it and "would" invest in Bitcoin...anyone with any common sense "knows" the crypto nation is sucking down whippets...and that's why they all bees talking so funny. :-)
That is funny as hell.
i like it! big like for you!
Hi Greg, Let them think or say what they want. We that follow you and do our own research as well.....know the truth. Thanks for always telling it like it is.
As always steem on brother. Upvoted. :C)