Quote from: exstasie on October 21, 2019, 07:31:19 PM

Quote from: bbc.reporter on October 21, 2019, 02:25:27 AM

Tom Lee, the founder financial analytics boutique Fundstrat, has made a shocking statement about crypto that completely contradicts his earlier prediction.

The Bitcoin permabull has agreed with "an unpopular opinion" about how the cryptocurrency industry is slowly bleeding to death after exchanges and early adopters raked in huge profits during the crypto craze.

He didn't agree, he said "it's possible." Big difference. Of course it's possible.

I personally think Bitcoin is ultra hard money. It has the best monetary properties of any asset on Earth so far, implying much more upside. At the end of the day though, large scale adoption of any form of money requires people putting their confidence/faith in it. This is a social phenomenon and there's no guarantee the best form of money will win. It's still a binary outcome for me: BTC is either headed to the millions or towards $0.

It's nice to see Tom Lee feeling so bearish though. He's a contrarian indicator.

I am beginning to notice that he is a contrarian indicator not because he is a bad trader, but because he be buying when he is bearish and he sells when he is bullish. Forum cave trolls laugh at him, however, he might already be laughing at us since 2017.