These type of articles are annoying. He argues about disadvantages of Bitcoin, then out of nowhere jumps to the comclusion that prices will be $10 early next year. There is no indication that he has done any kind of numerical analysis of any kind. This price has no credibility to me at all. At least BofA put some (questionable) reasoning behind their price estimate [1], by saying bitcoin will have a % of the market cap of Western Union (if I recall), plus a fraction of the US investment market and arriving at a total market capitalisation.
Comments
These type of articles are annoying. He argues about disadvantages of Bitcoin, then out of nowhere jumps to the comclusion that prices will be $10 early next year. There is no indication that he has done any kind of numerical analysis of any kind. This price has no credibility to me at all. At least BofA put some (questionable) reasoning behind their price estimate [1], by saying bitcoin will have a % of the market cap of Western Union (if I recall), plus a fraction of the US investment market and arriving at a total market capitalisation.
[1] http://www.forbes.com/sites/samanthasharf/2013/12/05/bitcoin...