I’ve never seen an older man in my entire life. Here’s a Wall Street legend, founded FSA, telling Tom Keen from Bloomberg that Bitcoin is, essentially, nuts. He cites a one sided market, with no sellers, equating it to ‘irrational exuberance’, borrowing a phrase from Alan Greenspan. Moreover, he warned the CME against launching BTC futures contracts, saying he has no idea how to price such an instrument, implying their reputation could be damaged by the product.
“This is irrational exuberance,” Royal Bank of Scotland Chairman Howard John Davies said in an interview on Bloomberg TV on Thursday. “This is a very, very unusual market, that shows we’re not in a normal two-way trading market.”
On a related note, the two ETFs that have exposure to Bitcoin have performed best this year. GBTC is higher by 1,580% this year and actively managed ARKK is higher by 70% — because its largest holding is GBTC. Go figure.
Here is ARKK’s other holdings.
The pseudo currency parabolic run is sign that this market is gonna blow.
http://www.zerohedge.com/news/2017-12-07/bill-gross-financial-system-we-know-it-can-be-risk
At least Davies likes Blockchain, except he didn’t explain how there can be Blockchain without Bitcoin. Right, he just meant Bitcoin has run up too fast, I get that. The oldest man I’ve ever seen still functioning on Wall Street was that guy Howard somebody on Bloomberg yesterday.
Meanwhile Mr. Fly I apologise for warning you off BTC some days back…you couldve made 50% by now. Nevertheless, Im warning you off again.
so,…………………. what you’re saying this is the best time to jump in and make 50% ROI in just 2-3 days?
no Im saying the best time to jump in is when you have an urge to party in Vegas
This guy Davies is way to old to understand how great btc is if he just stopped making sense and muddying the valuation issue with facts.
So trump is backin the Jews instead of Arab’s unlike obama. But this Jerusalem thing is just a cry for war. Why the fuck did trump do this now.
Simple. Trump is an agent of chaos. Ordo ab Chao. Besides the fact that he is under the thumb of Mossad.
https://tinyurl.com/zf2lm3u
Better the Nobel Prize-winning Jews than the child-rapist, wife-beating, head-chopping Islam-crazies.
How about staying the hell out of everybody else’ business and focusing on domestic issues? That’d be too much of a revolutionary idea?
Was reading that IB is not allowing shorts in BTC futures. You’d have to have big cojones to short this. I expect many traders and possibly even a firm or two to blow up fromrhe volatility. I sold all my BTC a few thousand points ago. Lol. Waiting for the next crash to evaluate another foray into these shit coins.