The wolf of wall street is yet again warning the Bitcoin investors to run out of it as Bitcoin is going to evaporate and get people slaughtered. Nobel laureate shares similar sentiments while Shapeshift CEO says we are done with the majority of the collapse and good things are coming up.
Wolf of Wall Street: Run while You Have the Chance
The Wolf of Wall Street, Jordan Belfort expressed his views on Bitcoin while speaking to CNBC for its “Bitcoin: Boom or Bust” documentary. According to him, it is the biggest scam ever. He warns the investors, stating:
“I was a scammer. I had it down to science, and it’s exactly what’s happening with bitcoin. The whole thing is so stupid, these kids have gotten themselves so brainwashed.”
Former stockbroker, Jordan Ross Belfort has been pleaded guilty to fraud for stock market manipulation. “The Wolf of Wall Street”, his memoir was later adapted into a film with the same name starring Leonardo Dicaprio, released in 2013.
Apparently, Bitcoin fraud perfectly plays into today’s world where the Internet has become a tool for manipulation as per him. He believes a number of ICOs are going to fail, further adding,
“This thing [Bitcoin] is going to evaporate like a mirage. There’s a lot of really honest people who are going to get slaughtered.”
When Bitcoin will get busted, which is expected by the end of this year, according to him, it would be “the bust heard around the world.” He concluded his interview with:
“We don’t even know how bad it really is. For the average person who’s really — you know, with a good heart, who walks in saying, ‘I just — I want — I do because I believe in it, in the long term thing,’ just f—— run.”
ShapeShift CEO: We’re done with the majority of the collapse
Well, this isn’t the first time, Belfort has blasted Bitcoin. In June, this year, he said it is going to zero and:
“Everything is wrong with it. There’re too many fundamental flaws with it, and bottom line is, get out if you don’t want to lose all your money.”
Another long-term Bitcoin bear, Paul Krugman, the Nobel laureate yet again ranted about the world’s leading cryptocurrency, this time for its declining transactions per day and that it can’t be a conventional money after all:
Everyone knows about the Bitcoin price crash. Less well known: the # of transactions peaked at the beginning of this year, and is now lower than 2 years ago. Replacing conventional money, not so much pic.twitter.com/DMaTJyoxHV
— Paul Krugman (@paulkrugman) August 25, 2018
Just as bitcoin price start seeing a downward momentum, anti-bitcoin starts speaking up, however according to the CEO of ShapeShift, Erik Voorhees, this is the opportunity to buy and shared his bullish views:
“I’d be surprised if Bitcoin falls more than 30% from here, which might still sound like a lot to some people. I think anything in the $5,000 to $8,000 range for Bitcoin is pretty reasonable and in a couple years will look like a great spot. It’s 70% down off its peak, which ain’t bad.”
As for when the bears will run out of the crypto market and bulls will enter, he says:
“I don’t expect it to end soon, although I think the rate of collapse has slowed considerably. Generally with these bubbles, after you go through several months of downtrend, you kind of hang out in a range for a while. And that while can be a couple months or, after the bubble in 2013, it could be a couple years. But I think we’re done with the majority of the collapse.”
Whether bulls come now or later, one thing is for sure, Bitcoin is here to stay!
Having a background in writing, I worked on a wide array of industry topics and have recently entered the world of Blockchain and Cryptocurrency.