I wrote in my last post that Bitcoin is long from dead (even though I mentioned in the title that Bitcoin is dead for the 952nd time). In it, I spelled out the reason, one technical and the other financial as to why Bitcoin still has life.
To read that article:
https://steemit.com/bitcoin/@taskmaster4450/for-the-952nd-time-bitcoin-is-dead
A couple hours after that article appeared, the head of Morgan Creek Capital Management was quoted by Cointelegraph as saying that Bitcoin will reach $400,000. This is a guy who manages $3.7 billion.
Here is a quote:
"This will change the supply and demand equation for banking. It is that big. I'm not surprised at all that bankers, financiers and Saudi Princes are coming out against it. This is a truly disruptive technology.”
As I keep repeating, Wall Street is the next driver in the cryptocurrency world and, to them, Bitcoin is at the head of the class. They honestly could care less about blocksizes, side chains, or hash rates. Their goal is to make money and appreciating assets are easier to sell. Since Bitcoin is known, and the darling, this is where a huge amount of funding will go.
This is another example of a Wall Street guy telegraphing where he will be buying. Notice, in spite of the frenzy, he did not mention Bitcoin Cash.
For full article:
https://cointelegraph.com/news/bitcoin-400000-says-investing-guru-mark-yusko