Kargai Posted January 1, 2018 #1 Posted January 1, 2018 Dennis Gartman is a former trader and creator of the The Gartman Letter in 1987 (where he send daily some advices about global capital markets to his members ... price 400$ a month). Over the years, he has also conducted numerous presentations and courses on issues relating to the capital markets and derivatives for various brokerage firms, central banks, and U.S. government entities. He's a luminary in the field. For him it's simple BTC is bullshit : “I won't trade it. I won't be long of it. I won't be short of it,” he announced, failing to see the merits of “some sort of an asset that has no real asset value behind it.” Source : https://cointelegraph.com/news/bitcoin-headed-below-5k-is-one-of-silliest-things-dennis-gartman-to-cnbc I believe it's part of the last "rush" for established financialists (banks, govs, old people who don't understand the current technology, ...). They will try to kill cryptos by saying whatever they can against it ... and probably buy some discretly just in case.
wilberthh Posted January 1, 2018 #2 Posted January 1, 2018 I don't really get it, but I think he is spreading F.U.D ?? Maybe he is shocked seeing how fast crypto market grows.
wry Posted January 1, 2018 #3 Posted January 1, 2018 He's simply stating his position based on what he knows. Bitcoin is a stateless deflationary decentralized payment network backed by math. As over simplified as that is, it's hard for some people to get their minds around it. Being based in the USA, which already has plenty of good centralized payment networks, I can see why he doesn't think it has any value. However, if he was in Venezuela he might feel very differently. Could the bitcoin price collapse, of course it could. So could the US dollar which is almost as electronic and backed by little more than bitcoin is. (If you are in the USA, you can pay your taxes in USD.)
skillex Posted January 5, 2018 #4 Posted January 5, 2018 On 1/2/2018 at 12:38 AM, wilberthh said: I don't really get it, but I think he is spreading F.U.D ?? Maybe he is shocked seeing how fast crypto market grows. yeah you're right wil ,maybe due to his nervousness on betting to crypto and jealousness of the fast profit earners of crypto-traders made him to conclude and judge right away of the future of this cryptos
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