Skip to main content

Bitcoin will hit $50K mark before falling to Zero, says Wolf of Wall Street


Is it a support or a snub at this crucial time?


Bitcoin crashed hard today reaching as low as $8,406 (as of writing) and this major blow is one from the series of a slump, the cryptocurrency is facing from the beginning of the current year. As compared to the earlier hypothetical statement recorded a couple of days ago, this more reasonably accurate statement comes as a tiny drop of water for the intense thirst of Bitcoin at this crucial time.
Jordan Belfort who is also known as the real “Wolf of Wall Street”, has said that Bitcoin “might reach $50,000” in coming years. But simultaneously, he has also snubbed the cryptocurrency by claiming Bitcoin as a “wolf in sheep’s clothing”, will fall to zero eventually after reaching a high of $50K.
In a Facebook post by Patrick Bet-David, Belfort has said that Bitcoin is not a scam at all, and accredits it as a “financial anarchists”. However, he does think that the platform has been manipulated by people and presented as an investment scheme, where its creators’ vision was to make it a currency alternative to gold. He said,
“Something [BTC] was designed to be used as a currency, and it’s being used as an investment vehicle […] As a currency, Bitcoin is no more useful at $20,000 or $100.”
He believes that it wouldn’t be a problem if the Bitcoin was deemed as currency, no matter how low its price would have gone.
Well, the views of Belfort had not been all the same a while ago. Back in December last year, he called Bitcoin a ‘huge danger’ reported by CNBC. At the time he said, “there’s no regulation on the actual level of Bitcoin itself.”
Bitcoin faced a second major blow of the year 2018, where cryptocurrency’s price dropped by 13 percent and reached to as low as $8,900 yesterday on Coindesk.

Comments

Post a Comment

Popular posts from this blog

Honda Launches the CR-V SUV in Pakistan

The 2018 Honda CR-V has been launched in Pakistan and it looks charming. Honda has finally launched the 2018 Honda CR-V in Pakistan. This Sports Utility Vehicle (SUV) has proven to be pretty popular around the world with an average of 300,000 units sold annually. In Pakistan, the Honda CR-V is gaining the popularity and attention of local auto enthusiasts. Honda CR-V 2018 was recognized as ‘2018 Motor Trend SUV of the year’ recently as well. The international model of CR-V has these four variants: Honda CR-V LX (Standard), Honda CR-V EX, Honda CR-V EX-L, Honda CR-V Touring. The CR-V offers pretty great features when you look at it. Let's take a look at what Honda Compact Recreational Vehicle (CR-V) has to offer. Exterior Because of its shiny new sporty-looking exterior, the vehicle is placed in small sports utility vehicle’s category. The exterior, no doubt, makes you want to look twice as some modifications to the previous model have been made. ...
Post a Comment
Read more

11 Reasons Why Electric Cas Are Better Than Fossil Fuel Burners!

With the fact that the conventional car industry has been revolutionizing, people around the globe are keenly captivated in buying electric vehicles despite cheaper petrol and diesel sucking engine vehicles. Electric cars will take over conventional vehicles throughout the world. Here is why you should look no further in adopting the trend! Less to No Maintenance Since electric motors have few moving parts (20) as compared to their inefficient counterparts (up to 2000). ICEs also have air/fuel filters, engine oil,  coolant, spark plugs, exhaust system, starter motor,  fuel injector, radiator, and oxygen sensor. EVs do not have any such parts and it's much simpler. Batteries of an EV do not degrade that easily and have a high mileage warranty with most dealers. More research is underway to scale back production costs for long-lasting batteries. Lower Fuel Cost EV drivers have the advantage of significantly lower operational costs.  Their electricity to c...
Post a Comment
Read more

New iPhone X SE renders leave nothing to the imagination

iPhone SE 2 or whatever Apple may call it when it will be officially announced, looks quite close to becoming a reality. The Cupertino giant seems to be gearing up the launch of its next mid-range smartphone as the recent renders revealed by  Phone Arena  affirms the previous leak of  Olixar iPhone SE 2018  screen protector. Apple’s iPhone SE 2 that earlier surfaced in a hands-on video with a design quite identical to Apple’s tenth anniversary smartphone iPhone X, has recently been affirmed in renders by Phone Arena with quite an investigative report.  “The iPhone SE 2 is now rumored to have a similar bezel-less design, complete with a notch, just like the X, and is, indeed, closer to reality than ever before” , the report states. Nayatel Partners With Kaspersky to Offer Total Security to Its Users Apple’s iPhone X SE has been previously spotted in sketches posted by  BGR , which shows that the smartphone may featu...
Post a Comment
Read more