By Steve Dellar  |  12-28-2017   News
Photo credit: Melphenem | Dreamstime.com

Bitcoin was the talk of the town in 2017 of course, but most of the financial sector is still not on board, meaning they have not gained commissions on the cryptocurrency. As more and more of the millennial generation worldwide is a staunch believer in cryptocurrency investing, there is, of course, a belief amongst financial analysts that a lot of money can be made from that. In that case, there are two roads you can take as a financial behemoth: believe in it and ride the hype or state to the central banks’ creed that it will ultimately turn to ruin.

Morgan Stanley analyst James Faucette has shown his hand by saying in a Christmas note to clients discussing the future investments of 2018 that the ‘real price of bitcoin might be $0.’

Just as many central bankers around the world, Mr. Faucette is not particularly impressed by the blockchain’s best-known currency, and stated that “If nobody accepts the technology for payment then the value would be 0.”

Already in September of this year, Morgan Stanley CEO Mr. James Dimon stated Bitcoin was, in fact, a ‘fraud’ and that he would ‘fire any analyst that traded in it.’

Morgan Stanley’s theory is based on that fact that though everybody by now knows Bitcoin, very few retailers are ready to accept it, and since the wild ride Bitcoin has had over the past few weeks, the number of retailers willing to accept this form of payment is in fact shrinking.

Mr. Jeremy Cheah, a Professor of Finance at the Southampton Business School, mostly agrees with this assessment: “At the moment, my personal assessment of the Bitcoin market is that it is largely driven by irrational exuberance given its recent launch on Chicago Board Operations Exchange that has piqued the interest of many investors not usually attracted to or exposed to investing in cryptocurrencies.”

Source:

http://fortune.com/2017/12/26/bitcoin-price-value-bubble-crash-says-morgan-stanley-analyst/

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2 Comment/s


Anonymous No. 14775 1514454952

This reminds me of blockbuster refusing to get into online rentals.

Anonymous No. 14790 1514464199

BitCoin sure has Wall Street and Government worried. But IF they want to talk value, using apples to apples.

The US Dollar is worth less than Bitcoin. $19T in debt and only having Gold, Silver, and etc. assets worth $4.2T. Or about -88 to 1 in Negative Valve.

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