Vanguard Economist Believes Bitcoin Price Could Plunge to Zero

[Covesting]

Joe Davis, Chief Economist for Vanguard, one of the world’s largest asset managers overseeing a combined $5.1 trillion in assets, believes that cryptocurrency has little to no use cases, are incredibly risky, and that there is a “decent probability” bitcoin’s value may plummet to zero eventually.

Despite the harsh words for bitcoin and like cryptocurrencies, Davis and Vanguard remain “enthusiastic” over blockchain technology. Davis made the following statement in an ETF industry perspective analysis titled ‘Vanguard: Bitcoin Presents A Quandary’:

“I’m enthusiastic about the blockchain technology that makes bitcoin possible. In fact, Vanguard is using such technology. As for bitcoin the currency? I see a decent probability that its price goes to zero.”

Full article is here.

 

[The CC Forums]

Meanwhile Tom Lee of Fundstrat still holds on to $25k in 2018. While Wall Street gains more and more access to bitcoin. Meanwhile, web traffic and google searches for bitcoin topics plummets to less than 15% of the numbers of Q4 2017.

What's dragging the bitcoin price down?

We need a boost, both in bitcoin price as well as web traffic, this site included. C’mon Wall Street. Goldman, Coinbase, the NYSE, Grayscale and more are waiting to show you the bitcoin way.

 

[Old Man Crypto]

It’s closer to zero than $25k, and getting closer by the minute today.

Look out below

 

[The CC Forums]

It’s closer to zero than $25k, and getting closer by the minute today.

Look out below

But think of all that demand brought in by Circle and their $1 minimum investment.

Huge, I tell you. Huge demand for one US dollar worth of crypto at a time, baby!

 

[The CC Forums]

Just posted a new thread on the wide dichotomy of opinions about bitcoin as an investment.

Either bitcoin is hot or it’s not