Bitcoin Bets: Which Pundit Is Right?
This is the first in a multi-part series where we examine pundits' opinions and predictions on the latest topics.
The cryptocurrency had a flat start, inching its way past the $100 per coin mark in 2013. Prices began to gradually climb with a few fluctuations in the years following. In mid-2017, prices began to skyrocket with massive asset inflows and transactions, only to abruptly plummet and bounce back slightly. Here's a look since 2010.
Outcomes So Far
If you followed Gundlach's advice to short bitcoin on December 13, your gain on March 18 of this year would have been a whopping 50.0%. Prices were $16,407.20 per coin on December 13, dropping to $8,196.02 on March 18. Novogratz's prediction is yet to be seen while Shiller and Buffett's opinions will need more time to determine their outcome.
Only time will tell who the real winners are in the cryptocurrency debate. Stay tuned for more pundit opinions on hot topics next week.
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