Bloomberg: Bitcoin price may continue to $ 1,500

[Mazda3]

Bloomberg Intelligence analyst Mike McGlone believes that the cryptocurrency market may continue its downward trend, and the price of bitcoin could fall to $ 1,500.
McGlone stressed that the Bitcoin Cash pamp, which preceded the hard forks, destabilized the market situation and was one of the reasons for the collapse last week. He added that a negative report is the financial report of Nvidia, in which the company disclosed the volume of excess products and gave a weak forecast for sales in the fourth quarter.
a source:

 

[Computer]

omg really

[skywallkee]

I wouldn't mind if it would go down to $1500 and then back up to $5000

Anyway, I still believe in BTC and I'm pretty sure it will hit soon an ascending period patience is all.

[peel1]

yeah the drops have been REALLY bad well unless your buying at that time if so your laughing you ass off

[djafar1]

If there was a pattern to predict if it would rise or fall in the next few months. Everyone would be rich. So the answer is who knows? Surely he doesn't he just talks bullshit. But maybe he has luck.

[wry]

I believe in the bitcoin project but I'm not sure I follow the pricing thesis, why $1,500?  Why not $1,000 or $100?  The issue is that no one knows, and no one CAN know.

Not sure why the Bitcoin Cash pump should effect bitcoin and the NVIDIA report is a total red herring, no one uses graphics cards to mine BTC on a large scale, that is more of an alt coin story.  Now maybe the whole ecosystem is in trouble, that could be and that seems to be what the article is mostly about rather than just the headline.

The actual link to the article is here:  https://www.bloomberg.com/news/articles/2018-11-16/crypto-winter-comes-early-as-bitcoin-slide-spurs-viability-fears?utm_source=twitter&utm_content=crypto&utm_medium=social&utm_campaign=socialflow-organic

[Etude]

To be honest this sounds exactly like how a price manipulation news would be and by Bloomberg too. $1500 is definitely too low a price point for Bitcoin to dip to so suddenly.

[williamshennie9]

Well I just saw this article now, and I can definitely say that I have already lost much hope in bitcoin at the current price level, so seeing a large company like bloomberg predict that it could to go $1500 is just adding salt to the wound.