In the news today:
‘Commodities King’ Dennis Gartman Predicts Bitcoin Price Drop to $5,000, Then Implode
He said he expects the bitcoin market will fall when its value drops
to $5,000. He has criticized bitcoin for having no intrinsic value,
and he recently said it makes the tulip bubble in 17th century Holland
that sent the Dutch into a frenzy look almost like a “quiet, well
demeanored market.”At the same time, Gartman considers blockchain technology brilliant.
He has argued that bitcoin’s price volatility undermines its use as a
currency. He has questioned how one could buy or sell a painting using
bitcoin, when its value changes 20 to 40 percent in the course of a
week.
- Will Bitcoin fall (to $5,000)?
- Do we need cryptocurrencies to facilitate blockchain technology?
- Will Bitcoin ever be viable as a currency?
What do you think? Let's discuss!
-longcat