The growth of bitcoin over the past years has sparked quite some interesting debates and opinions on cryptocurrency. It is not surprising many people failed to predict correct bitcoin price movement, although some of these claims have become more notorious than others. Below are some of the most ridiculous bitcoin price predictions in history.
#4 Financial Times (2015 Prediction)
Back in 2015, the Financial Times published a post outlining the future of finance, assets, and stocks. One paragraph of this post is dedicated to bitcoin, albeit they did not see a bright future for this cryptocurrency. While the FT agreed bitcoin would not collapse in 2015, their overall sentiment was how prices would continue to go down after reaching the US$350 mark.
It has to be said, up early November 2015, it would appear the Financial Times was right. By March of 2015, the bitcoin price was hovering between US$200 and US$300. In early November, the Bitcoin price spiked by 70%, pushing its value to over US$400 once again. No doom and gloom for bitcoin by any means.
#3 Rob Price
The Financial Times were not the only ones who saw a dark future for bitcoin. Rob Price, who worked for the Business Insider UK at the time, predicted how ‘bitcoin would get annihilated”. While it is true the second half of 2014 was not a good time for bitcoin by any means, it is evident this article was mainly designed as click bait. As mentioned above, the Bitcoin price eventually recovered by the end of 2015. It is a good thing those volatile days are in the past, though.
#2 Jiri Kram
Perhaps one of the most intriguing bitcoin price predictions came from Jiri Kram on December 8, 2016. A post on Linkedin explained how “Bitcoin was a bubble that would burst on December 12, 2016. This post has become quite notorious in the cryptocurrency world, as it was the announcement for the new blockchain-based virtual currency developed by SalesForce and MIT fintech alumni.
Due to no specific explanation this prediction did very little to disturb the bitcoin market whatsoever. In fact, bitcoin’s price continued to climb on December 12th and the days after that. This new virtual currency developed by the MIT fintech alumni and Salesforce, however, was never heard from again. Maybe they got the two mixed up in the end?
#1 Professor Bitcorn
Mark T. Williams, a contributor to Business Insider in December of 2013 and best known as Professor Bitcorn, painted a very grim future for bitcoin. One of his posts explained how bitcoin would crash to US$10 by mid-2014. This was by far the most ludicrous bitcoin price prediction the world has seen to date. While the value dropped quite a bit in 2014, it never got even close to the US$10 point by any means.
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