CNN Political Commentator Predicts Bitcoin Rises to $103,000 in 2023 (cnn.com) 118
"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."
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."
Funny, nobody's projecting $0 (Score:3)
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)
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)
$0 for bitcoin, or CNN?
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CNN to $0? Sounds like Fox News commentary.
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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]
Re: Funny, nobody's projecting $0 (Score:2)
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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.
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$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.
Re: Funny, nobody's projecting $0 (Score:3)
Re: Funny, nobody's projecting $0 (Score:2)
$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.
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Re:Funny, nobody's projecting $0 (Score:5, Insightful)
This CNN "piece" is another pump and dump manipulation. I guarantee you some parties bought a bunch of BTC, then they put out the piece, paid to promote it here, and cashed out a few percentage points of gain. Or will cash out in a few days.
Rinse & repeat.
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CNN political commentator is an idiot (Score:5, Insightful)
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)
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.
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You are perfectly correct. No idea how I could have overlooked the significance of the skill-area of those involved. Made me LOL.
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The only difference in the n
Re:CNN political commentator is an idiot (Score:4, Funny)
Also notice that only the highest estimate made the headline. WUT IS CHERRY-PICKING AND WHY IS IT WRONG???
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You know, "journalism" these days. Mostly by morons for morons. Headlines have gotten as bad as YouTube clickbait thumbnails. Or worse.
Re:CNN political commentator is an idiot (Score:5, Informative)
Also notice that only the highest estimate made the headline. WUT IS CHERRY-PICKING AND WHY IS IT WRONG???
That's EditorDavid's headline, not CNNs. Slashdot editing is such a dumpster fire these days. CmdrTaco must grimace, if he ever visits this site.
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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.
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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.
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> 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)
> 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.
Re: CNN political commentator is an idiot (Score:1)
A prediction without a time frame is pretty useless.. Everything eventually dies.. this doesn't mean it can't be valuable in the meantime.
I'm also pretty sure AAPL will go to zero some time.. but probably not in the next 10 years.
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Note that the description was "political" commentator, not economic one.
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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.
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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.
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Well, scammers lie and lie and then lie some more. It is their whole MO. Matt Wallace (whoever that is) is obviously no exception.
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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.
Re: CNN political commentator is an idiot (Score:2)
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.
"I know nothing about Bitcoin" (Score:2)
I will translate (Score:5, Insightful)
CNN commentator has stuck a ton of money into BTC in 2022...
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Indeed. Or, CNN commentator is starting a business venture that depends on BTC rising this year.
CNN is heading for the crapper (Score:5, Insightful)
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.
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Not sure where you get your "facts" about average age of Fox News viewers.
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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.
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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.
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Ok, what are "Fox viewers"? People who watch movies from 20th Centruy Fox? People who look at pretty girls? (That doesn't fit with an average age of 70 though.)
Re: CNN is heading for the crapper (Score:2)
People who watch Fox. How are you this ignorant? It seems it must be willful.
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No. I thought "Fox News" was the name of the channel. (Channel? Site? Are they TV or internet?)
Well, ok, I'm willfully ignorant of most stuff relating to that broadcast platform. And haven't seen any reason to change. But I was confused about the difference between "Fox viewers" and "Fox News viewers". Now I know it must refer to some particular program.
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1.Fox:
https://en.wikipedia.org/wiki/... [wikipedia.org]
2. Fox News:
https://en.wikipedia.org/wiki/... [wikipedia.org]
That wasn't too hard was it?
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In addition to the links to Wikipedia, I would point out that Fox News is NOT owned or broadcast by Fox Broadcasting, so Fox News is NOT a particular program on Fox.
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There's no real market for younger viewers. Including investigative journalism.
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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:
> 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]
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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.
Re: CNN is heading for the crapper (Score:5, Insightful)
Also your masters are going to make you vote for Ron DeSantis. So in a few months you won't be able to talk about Trump anymore you're just going to be talking about Ronnie boy just like they want. It's going to be funny to watch you guys change your tune when they yank your leash.
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How long have you had this comment waiting around to post? Is this the culmination of your life's effort I'm witnessing?
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Specific
Cryptocurrency has negative value (Score:5, Insightful)
Re: Cryptocurrency has negative value (Score:2)
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Hmm. XMR?
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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.
Re: Cryptocurrency has negative value (Score:2)
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.
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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.
Re: Cryptocurrency has negative value (Score:2)
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).
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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.
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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.
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I can't avoid paying the US govt. I don't even *know* any of the various merchants you are referring to.
Re: Cryptocurrency has negative value (Score:2)
I am aware of billions of people who never pay the U.S. government anything.
CNN (Score:1, Insightful)
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Sorry, that doesn't work. All you know is that they said something bad about him. And not all possible bad things are true.
Wow... crazy (Score:2)
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.
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Pure speculation investments (Score:2)
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.
Re: Pure speculation investments (Score:2)
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
Manipulating stock values (Score:2)
PUMP AND DUMP! LET'S GO! (Score:2)
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.
Re: PUMP AND DUMP! LET'S GO! (Score:1)
Wasn't it CNN that predicted (Score:2)
That Michael Avenatti [cnn.com] would be a great presidential candidate someday? #JustSaying
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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)?
Excess speculative liquidity gone (Score:1)
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Yet BTC should surge? No way.
CNN commentator must have taken a V1agra for BTC pill.
News for what? (Score:2)
Post-fact society (Score:2)
For the rest of us who still believe in facts, may BTC die in a fire.
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censorship resistant electronic payments network
What does that mean? What does censorship of an electronic payments network look like?
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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.
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Okay, that makes sense. Do adult content and gambling sites commonly accept Bitcoin?
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Re: Post-fact society (Score:2)
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.
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So.... (Score:1)
CNN? Only an NPC believes what the MSM says (Score:2, Insightful)
The MSM are shills for the big tech, central banks, defense contractors, deep state, political elites, Ukraine and big pharma.
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Non Playable Character?? Oh, I get it -- you're trolling for Trump! How sad for you.
Why Bitcoin is definitely not rebounding (Score:1)
Re: Why Bitcoin is definitely not rebounding (Score:2)
No one has used GPUs to mine Bitcoin for years. Your analysis may apply to something, but it definitely has absolutely nothing to do with Bitcoin mining.
You keep using that word ... (Score:1)
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 saviour (Score:1)
Why is the opinion of a non-expert "news"? (Score:2)
Why would any tech site post a fucking CNN story?
He got paid off (Score:2)
Money, mouth, commitment? (Score:2)
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.
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This is journalism? (Score:2)
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
Can we get... (Score:2)