Please create an account to participate in the Slashdot moderation system

 


Forgot your password?
Close
typodupeerror
×
Bitcoin

CNN Political Commentator Predicts Bitcoin Rises to $103,000 in 2023 (cnn.com) 118

Posted by EditorDavid from the to-the-moon dept.
"Cryptocurrency went through a transformation in 2022," writes CNN, noting that its peak price last year occurred on January 1 of 2022, at over $47,000: Since then, the asset — along with other cryptocurrencies — has seen a steep fall in price, remaining well below $20,000 since early November.... [Current price: $16,585]

In the wake of the FTX collapse, Emily Parker rhetorically asked, "So who will save crypto now?" Whether the currency can be saved at all is a question that divides our prognosticators. [Political commentator] Alice Stewart is the most bullish on the future of bitcoin, predicting that its peak price in 2023 will be $103,000.

[Legal analyst] Elliot Williams isn't too far behind her, guessing the asset will top out at $70,000. [Opinion contributors] Jill Filipovic and Allison Hope, however, don't anticipate a rise in price at all — speculating that its peak value next year will be just $12,000 and $13,000 respectively. "I know nothing about Bitcoin," admits Hope, "but this seems like a conservative gloom and doom figure."
In their larger collection of predictions, two CNN opinion contributors expressed mild hopes for bitcoin Raul Reyes wrote that Bitcoin "seems like the steadiest investment in the volatile crypto world," before predicting its 2023 peak price would be about $29,400.

And Frida Ghitis predicted that "Speculators will swarm in, and Bitcoin will spike up above $36,000 — before falling back to Earth again."
This discussion has been archived. No new comments can be posted.

CNN Political Commentator Predicts Bitcoin Rises to $103,000 in 2023 More

CNN Political Commentator Predicts Bitcoin Rises to $103,000 in 2023

Comments Filter:

  • Funny, nobody's projecting $0 (Score:3)

    by DrMrLordX ( 559371 ) on Sunday January 01, 2023 @02:53PM (#63172566)

    You would think at least one of them would have been a fuddy-duddy that would predict a crash-and-burn for all of crypto?

    • Re:Funny, nobody's projecting $0 (Score:5, Informative)

      by quall ( 1441799 ) on Sunday January 01, 2023 @03:13PM (#63172606)

      Really? I don't think that those predicting are as stupid as the morons buying crypto. Nobody will predict $0 because there are a lot of gullible morons out there who will be willing to buy whenever propaganda hypes them up.

      Crypto currencies just move money around between other crypto owners. It's a game where you try to buy and shill tokens to someone else before you're the one left holding the bag.

      When people get wiser and stop buying, those who are holding the bag will try to hype and sell what they can out of desperation. That's when it'll crash because everyone will try to dump what they can to cut their losses. Nobody can predict when that will happen because it's a world-wide game and there are a lot of gullible buyers who can be scammed.

    • Re:Funny, nobody's projecting $0 (Score:5, Insightful)

      by walterbyrd ( 182728 ) on Sunday January 01, 2023 @03:23PM (#63172630)

      $0 for bitcoin, or CNN?

      • Re: (Score:2, Informative)

        by DrMrLordX ( 559371 )

        CNN to $0? Sounds like Fox News commentary.

        • Re: (Score:2, Informative)

          by Q-Hack! ( 37846 )

          Considering that Fox has 3 times the viewers of CNN... it doesn't help that even the libertarians are making fun of CNN:

          https://www.youtube.com/watch?... [youtube.com]

          • The stats you're quoting are flawed. I have no clue what the actual stats are, but what you're quoting is viewership on cable TV. With the landmark numbers in the past couple years "cutting the cable", all that I can assume are that only the idiots and long term hold outs (read in, old boomers) haven't gotten off of cable broadcasts by now... Now, of that demographic, yes, I can see the majority watching Fox news.

    • Re: (Score:1, Troll)

      by narcc ( 412956 )

      If you own crypto, the only smart thing to do is make lofty predictions about its future value. That's how you con the bigger suckers into buying you out.

    • Re: (Score:2)

      by vadim_t ( 324782 )

      $0 is also very unrealistic. No matter what, there's a lot of fools out there.

      I think that while crypto is on the road to irrelevance, it'll hang on for a long time, and may survive on what it used to be before: a way of paying drug dealers.

    • I don't think it will go to zero because it has utility for money laundering.

    • $0 is exceedingly unlikely. Something like $0.01 is almost infinitely more likely.

      For it to go to zero, you would have to see trade completely stop. That would only happen is something fundamentally fails in the protocol.

      $100k next year is also not going to happen [how have people still not caught on to the 4-year cycle?], but it's more likely than $0.

  • CNN political commentator is an idiot (Score:5, Insightful)

    by gweihir ( 88907 ) on Sunday January 01, 2023 @02:57PM (#63172576)

    Probably an idiot that has stupidly "invested" into BTC or other crapcoins and is now trying to push the price. Of course nothing besides a slow decline will happen. Of course, similar to somebody dying from cancer, there will be a few good days where it seems viable. But the end is clear and inevitable.

    • Re:CNN political commentator is an idiot (Score:5, Insightful)

      by WankerWeasel ( 875277 ) on Sunday January 01, 2023 @03:05PM (#63172590)

      As usual, crypto is a greater fool investment. You buy it so that you can sell it to someone who's a greater fool than you.

      A political commentator and legal analyst aren't who I'd look to for investment advice.

      • Re: (Score:2)

        by gweihir ( 88907 )

        You are perfectly correct. No idea how I could have overlooked the significance of the skill-area of those involved. Made me LOL.

      • The thing is:it's very hard to predict a market driven purely by fools and scamsters. The advice given by a political commentator and legal analyst might be just as good as that given by a financial expert or a hairdresser (though I'd expect the financial guy to advice: don't invest in crypto). If the stock market slumps further this year, perhaps some fools will flock back to crypto and we'll see a resurgence in the market. Maybe a prolonged one if more FOMO types jump on.

        The only difference in the n

    • Also notice that only the highest estimate made the headline. WUT IS CHERRY-PICKING AND WHY IS IT WRONG???

    • Re: (Score:2)

      by fermion ( 181285 )
      In any market you have to have buyer to make prices rise. Look at the US rye whiskey market. Same product but promotion has made prices rise a lot.

      I have bitcoin, not selling it, but not buying it. I can imagine casually purchases of crypto, but not enough to raise prices. If anything, a my significant increase in prices is likely to trigger selling which would then stabilize prices.

      • Re: (Score:2)

        by gweihir ( 88907 )

        Yep, probably. Nobody sane is going to want to get in big at this time, and the insane ones already lost all their money on this. Plenty of fools left but not enough with money.

    • > Of course nothing besides a slow decline will happen. Of course, similar to somebody dying from cancer, there will be a few good days where it seems viable. But the end is clear and inevitable.

      People have been saying this forever. Remember, the whole bitcoin thing started out worth nothing at all.

      Someone accepted like 10,000 units of them in exchange for a pizza, and thought they were doing someone a favor by taking them. It ended up being the most expensive pizza of all time.

      It's pretty hard to call i

      • Re:CNN political commentator is an idiot (Score:4, Insightful)

        by gweihir ( 88907 ) on Sunday January 01, 2023 @04:48PM (#63172774)

        > Of course nothing besides a slow decline will happen. Of course, similar to somebody dying from cancer, there will be a few good days where it seems viable. But the end is clear and inevitable.

        People have been saying this forever.

        And I will keep saying it, because it is true. Here is a ProTip for you: People making predictions about a crash are always making these predictions _before_ it happens. And "forever"? No. BTC is 13 years old and the hype is much younger. The typical Ponzi-Scheme runs 5-10 years before it crashes (Madoff made it to
        around 14 years) and as BTC and other crapcoins are a variation on the Ponzi idea and much more distributed, I would not be surprised if goes for a few more years before the inevitable end. On the other hand, the current exchange rug-pulls and scams and collapses may well be the end and in a few months it is all over.

        Personally, I would still like to buy 1 BTC at $1 as a historical artefact, but the BTC blockchain will likely become non-functional way before it has crashed that low.

    • Note that the description was "political" commentator, not economic one.

      • Re: (Score:2)

        by gweihir ( 88907 )

        Note that the description was "political" commentator, not economic one.

        You are perfectly correct. A big red flag right there. No idea why I did not see it.

    • Hey... at least they didn't double down and "promise" to shut down their YouTube channel if it doesn't meet their price target.

      Matt Wallace "promised" to do just that if Dogecoin didn't hit a dollar by the end of 2022. It's 2023 now, and his channel is still alive and well. It's also still promoting various crap coins that tend to plummet in value a few weeks after he's done pumping them and sold his holdings.

      • Re: (Score:2)

        by gweihir ( 88907 )

        Well, scammers lie and lie and then lie some more. It is their whole MO. Matt Wallace (whoever that is) is obviously no exception.

    • Re: (Score:2)

      by HiThere ( 15173 )

      If you were betting, that wouldn't be the way to bet. My prediction is that it will decline in value on the average, but that there will be wild swings. Hopefully, though, mining it is probably uneconomic.

    • As a general rule, they'd lose their jobs if they didn't disclose those types of things. News anchors aren't the same thing as YT stars.

  • So just state a random number, like â12.000, and buy a eurojackpot ticket. The rest of the world watch in awe over the burning coal furnaces fueling bitcoin mining as the cost of heating goes through to roof. I'm buying shares in a coal mine instead.

  • I will translate (Score:5, Insightful)

    by MemoryDragon ( 544441 ) on Sunday January 01, 2023 @03:10PM (#63172598)

    CNN commentator has stuck a ton of money into BTC in 2022...

  • CNN is heading for the crapper (Score:5, Insightful)

    by rsilvergun ( 571051 ) on Sunday January 01, 2023 @03:10PM (#63172600)
    their new CEO can't figure out what to do about their falling ratings. Rather than do actual investigative journalism on important issues (which would piss off the 1% and so isn't an option) his solution is to try to turn into Fox News. Fox News. The network where the average viewer age increases every year because new viewers aren't materializing. The network with the average viewer age pushing 70 in a country with a life expectancy of 76 and a deadly pandemic ripping through the senior community...

    I stopped paying for news or seeking out the sort with adverts (TV & Newspapers) because they stopped doing useful journalism. When I'm having to go to gossip rags like Gawker to get old school "truth to power" muckracking (oops triggered someone) something is very, very wrong. What the **** ever happened to Bernstein & Woodward? Why did I have to turn to ****ing Youtube for coverage of the Flint MI water crisis? Why is nobody talking about the entire SW of America running out of water? Why do I have to turn to this guy [youtube.com] for an honest explanation of crime rates?

    If you want me as a viewer CNN you need to give me useful information. If I wanted constant confusion and fear mongering Fox News does it better and their women are hotter.

    • Not sure where you get your "facts" about average age of Fox News viewers.

      Dec 15, 2022
      Top cable news networks U.S. 2022, by number of viewers
      What are the most-watched news networks? In November 2022, Fox News was the most watched cable news network in the United States and continues to do well in terms of its primetime audience, with 1.6 million primetime viewers in that period. Fox News viewers in the 25-54 demographic reached 356 thousand, whilst MSNBC had just 148 thousand.

      https://www.statista.com/statis

      • CBS NBC the rest of those guys can survive targeting a younger demographic. That means they have a chance to pivot into their other more mainstream shows. The difference with fox is that their entirely dependent on the older demographic and that older demographic just isn't being replaced.

        They've got a few years before the demographic ages out and because they are largely a political channel with politics at the very wealthy finds extremely agreeable they can hang on. But it's only a matter of time.

      • You are conflating "Fox" viewers with "Fox News" viewers. They are not the same and, if you were not blinded by your preconceived notions, you would have spotted this.

    • There's no real market for younger viewers. Including investigative journalism.

    • Clearly Not News has been shit for a while now. Jeff Zucker, former president of CNN, stated in an interview to New York Times Magazine, April 2017:

      The idea that politics is sport is undeniable, and we understand and approached it that way.

      > Why is nobody talking about the entire SW of America running out of water?

      Because news shills can't distill complex topics into trivial sound bites for sensationalism when most people are apathetic about the topic. Look at how many people have even heard of Cadill [youtube.com]

    • their new CEO can't figure out what to do about their falling ratings

      Any plan built on cable TV is destined to fail. Cable TV is done.

  • Cryptocurrency has negative value (Score:5, Insightful)

    by xack ( 5304745 ) on Sunday January 01, 2023 @03:17PM (#63172616)
    With all the money lost to scamming, people being forced pay more for legitimate hardware (gpu and asic shortage), electricity usage during an energy crisis and literal enabling of terrorism cryptocurrency has basically destroyed itself in the public eye. Anyone still using cryptocurrency in 2023 is a loser, plain and simple.
    • Except for the one crypto that is actually used as a currency. Because some things [slashdot.org] canâ(TM)t be purchased with Visa or MasterCard.
    • Bitcoin is the fruit of decades of development toward a trustless peer-to-peer censorship resistant electronic payments network. What alternative are you offering that provides these features?

      • Hmm. XMR?

        • Bitcoin is adding many of the privacy features that monero provides, but it can already be used pseudonymously in ways that protect privacy. I don't really think that monero will compete with bitcoin in the long term.

          • That's just gonna make BTC an also-ran XMR. I don't buy it. Too many shady bad actors have gotten busted using BTC up to this point. If anyone wants real privacy, XMR (and some others) are doing it right now.

            Tacking that feature on later when BTC has already categorically failed to deal with main chain txn limitations just doesn't seem like a great idea.

            • Monero moves like $50M/day. Bitcoin moves hundreds of millions of $ before the sun rises. As a technology, it's got value, but as a network it still has a lot to prove before it can even be put in the same class as Bitcoin.

              Remember, everyone who gets scammed in cryptocurrency is getting scammed by criminals trying to get their hands on Bitcoin. When criminals stop trying to give you FTX tokens or whatever in exchange for your Bitcoin, then maybe some of currency can step in to take its place.

    • Re: (Score:2)

      by HiThere ( 15173 )

      That's a comment about the group of people you associate with. Most people still don't have the faintest idea what a cryptocurrency is.

      FWIW, I consider it a currency without value, but there are those who disagree, and will offer value for it.

      • All currencies in the modern world have zero value. It's considered a feature of cash. You don't want to deal with monetary dynamics brought on by some unrelated asset crunch (like gold used to cause).

        • Re: (Score:2)

          by HiThere ( 15173 )

          Nonsense. The value of the US currency is that you can use it to pay the government not to take your stuff. They control the value by saying how much you need to pay them. And they only accept US currency.

          • Re: (Score:2)

            by reanjr ( 588767 )

            Nonsense. The value of Bitcoin is that you can use it to pay merchants for stuff. No single entity has control over the value, but parties come to a consensus on how much to pay them. Lots of merchants accept Bitcoin, but don't accept USD or Euros.

  • CNN (Score:1, Insightful)

    by tsilvergun ( 8790789 )
    Stop reading there. Who the fuck listens to anyone at CNN?

  • I am not quite sure what is more ironic-- the absolute price they see or that they simultaneously say it will pop back down to reality.

    I predict it will be relatively flat in 2023 and largely uninteresting... much like the stock market. The people who drove volume and speculation are out now. They might have some cash saved to put back into something, but I am surprised if it will be crypto currency. The house of cards that the exchanges represent will pose a long-term burden.

    • They're into recycling - the 6-figure price has been made in previous years as well - by other "greater fools".
    • Markets and crypto will be down in 2023. I'll go ahead and predict that. Meanwhile Fed will hold steady at around 5%. People will start to figure out they can get a guaranteed 4% return with treasuries/cd's and migrate towards them. I'll wait and see how 2023 goes before I predict if the fed starts cutting rates in 2024.

  • It's all just a guessing game in how many suckers can be lured into investing in crypto. So the crazier the prediction, the better for the vultures looking to fleece the ignorant.

    It's not like making predictions on a product that has actual real world use....say like predicting what Tesla will do in 2023.

    • It's not really much of a guessing game. I mean, they're wrong, but not because it's impossible to be right, but because they obviously don't know anything about Bitcoin.

      They see it as just another asset that rides the dynamics of the wider economy. While there's truth to that, the much more important dynamic is the 4-year cycle upon which the Bitcoin algorithm is designed.

      I'll go out on a limb and make some longish-term predictions that includes a fair amount of uncertainty, but no guessing:

      Bitcoin price w

  • And helped by /.

  • The line of "bigger idiots" has reached CNN.

    Never mind the fact that Bitcoin is worthless for everything other than money laundering and criminal activity, and even then it sucks because all transactions are stored on the blockchain.

  • That Michael Avenatti [cnn.com] would be a great presidential candidate someday? #JustSaying

    • That Michael Avenatti [cnn.com] would be a great presidential candidate someday? #JustSaying

      Wait, was this the same network that verified a sarin nerve gas attack by huffing some backpacks and saying they smelled like chemicals (it does not have a smell)?

  • Yet BTC should surge? No way.
  • Some random guys predicting the price of an asset whose price is totally random. Where is the nerd thing? News about astrology would be more relevant at this point.
  • Believe in the lie strongly enough & it might just come true!

    For the rest of us who still believe in facts, may BTC die in a fire.
    • I made this comment elsewhere, but bitcoin is the fruit of decades of development toward a trustless peer-to-peer censorship resistant electronic payments network. What alternative are you offering that provides these features?

      • Re: (Score:2)

        by tsqr ( 808554 )

        censorship resistant electronic payments network

        What does that mean? What does censorship of an electronic payments network look like?

        • When you try to make legal online purchases using your credit or debit card, but it gets declined for ideological reasons based on what you are purchasing, that's censorship via an electronic payments network, for example.

          Examples of legal purchases that frequently get blocked include adult content and lottery/gambling sites.

          • Re: (Score:2)

            by tsqr ( 808554 )

            Okay, that makes sense. Do adult content and gambling sites commonly accept Bitcoin?

            • I'm aware of some gambling sites using it, and the biggest adult video site was blacklisted by credit card companies and now only accepts bitcoin or direct bank transfer for payment.
      • You want trustless, you got trustless & everything that comes with it: an explosion in organised crime & all the horrors that come with that.

        • Well, to be fair, those crimes almost always start with gaining someone's trust. Well, why did you go and start trusting someone? You fucked up. Bitcoin can't fix stupid.

  • What you're saying is CNN Political Commentator lost everything on Bitcoin and his hoping the missle is going to stop heading to the ground and instead going straight to the moon? Bro really bought in when everyone mistook the missile for being a rocket. Good luck "CNN Political Commentator" panic sell bro, it's sound financial advice from a definite non-fiduciary.

  • The MSM are shills for the big tech, central banks, defense contractors, deep state, political elites, Ukraine and big pharma.

    • Re: (Score:1)

      by tsqr ( 808554 )

      Non Playable Character?? Oh, I get it -- you're trolling for Trump! How sad for you.

  • You just need to look at the hardware market to see that there's no sign of a Bitcoin rebound. People aren't buying GPUs for mining anymore, they're selling en-masse. Since Bitcoin still has no intention of transitioning to Proof-of-Stake, that means if there *are* still people looking at investing in crypto, they aren't doing it on the Bitcoin blockchain.
  • BC and the others aren't much like currency at all; more like tulip bulbs (or like NFTs, without the low-quality artwork attached). To the extent that they are like currency, they appeal to to two groups:
    • Illiterate children, who haven't read a shred of banking history (wait, there's a *reason* for banking regs? I assumed the man just wanted to keep me down!),

    • Speculators who hope there are enough greater-fools out there to cover the 'investment' long enough for them to get in and out.

  • bitcoin is the economic savior and this is my personal opinion because bitcoin changed my life for good, but investing in bitcoin is a very tricky business and not just because of the nature of the market but also because of the number of dishonest investors it is producing. Early last year I got a call from an investor who told me about bitcoin investing and how profitable it is, after several months of this investor taking more and more money, I asked for a withdrawal but was unable to, this was when it d

  • Why would any tech site post a fucking CNN story?

  • By the crypto bros. They need a reason to boost the price. Crypto is not coming back like it did, during covid people had extra money and time to gamble on crypto, it's unlikely that conditions like that will return it conditions like them.

  • predicting that its peak price in 2023 will be $103,000

    I would find claims like this more believable if the pundits in question could prove that they have invested heavily in the crypto's they are backing and that they won't redeem them until they reache the peaks they have forecast.

  • Comment removed based on user account deletion
  • The main thrust of the CNN piece is a hodgepodge of 2023 predictions: the Super Bowl, the Grammies, the Emmys. This bit about Bitcoin's price is 4/5th into the article, and the summary quotes it pretty much in its entirety.

    Why has this particular slipshod bit of cryptocurrency babble made it to the Slashdot front page? What actually useful, insightful, or newsworthy content does it bring to the discussion? A round robin of talking heads, most of whom have no qualifications or expertise in this subject
  • More articles from the a possibly reputable or unreputable news sources commentators brothers plumbers nieces one time neighbors dog sitter that thought of buying BTC that one time when he was high and thought he worked on wall street?

Slashdot Top Deals

I've noticed several design suggestions in your code.

Close