Jim Rogers Bitcoin smells like bubble
Jim Rogers, the famous investor guru and founder of the International Index of Raw Materials Rogers (RICI) has expressed his opinion that Bitcoin "looks and smells" like a bubble. His investment advice includes bullish outlooks in any number of investment fields, but is bearish in Swiss francs and Bitcoin.
Rogers, now 75, says Bitcoin has been lost. In fact, he is not really aware of what Bitcoin is, saying "Whatever it is, I missed it." However, through a technically sound "smell test", Rogers has suggested that Bitcoin is a bubble. In fact, the investment guru said:
"It looks and smells like all the bubbles I've seen throughout history."
Real expert analysis
In contrast, Ronnie Moas has recently suggested that Bitcoin will reach $ 14,000 and the notoriously bearish Tommy Lee, founder of Fundstrat has remained exceptionally bullish on the nascent tech monetary device.
Other industry experts agree. A rapid increase in price is not necessarily a sure sign of a bubble. On the contrary, the prices of rise can represent an adoption on a larger scale. Consider the statement of Ted O'Neill (founder, narrative network):
A traditional speculative bubble occurs when exuberance causes the price to rise much more than the intrinsic value of the asset. While Bitcoin has certainly seen a meteoric rise, and will experience sudden changes in value until it matures, I would argue that it still represents a good value, especially when you consider that the total amount of money in the word is around $ 60 tln and The current value of Bitcoin is only $ 136 bln. That represents 0.2 percent. As a stock shop and as "money", Bitcoin is about to achieve a much higher market capitalization.
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