Quote from: timerland on September 12, 2018, 10:10:08 PM

Quote from: cheefbuza on September 11, 2018, 10:03:11 AM

https://bitnotcoin.com/stern-professor-says-bitcoin-will-hit-zero-after-70-percent-drop-illogical-argument/

He's essentially using the argument that since bitcoin fell by this much within the bear market, it must continue into the future. He's not backing it up with any analysis, it's purely opinion and speculation.

We all know that he's wrong - bitcoin can't be worth zero as long as there is a demand for using the network, and there will always be demand for it.

Does he not understand that bitcoin is just currently in a bear market, and due to the volatile nature of bitcoin, it essentially means that bitcoin has always historically corrected around 70-80% down from its peak before recovering?

The article sums it up pretty nicely. To us, these sorts of articles obviously don't carry any weight given we know what's going on with the market. The mainstream may be misled into believing it, though.

Common lines for those so-called economist that havent much idea about Crypto market.If they do able to research first before they do make any statements or comments for sure they wont really make such words.We have seen for how many times on huge price swings either on price rise or drop. 70% isnt a critical rate and we have seen it before but look at we now, we even still on the price which is higher on previous years.
For those people who do have knowledge will really just ignore this but for those who are completely zero-knowledge with crypto might easily believe with these speculations.