The nosedive that the Bitcoin price made in the beginning of 2015 hasn’t gone unnoticed. Mainstream media outlets are dusting off their terms of last year like “scam” and “ponzi scheme” without actually providing objective facts and data to back up their claims. So let us see what a retired senior manager of Exxon has to say about the whole Bitcoin evolution.
Serge: Thanks Mr. Joris to sit down with us and doing this short interview. What are your perceptions of the media and Bitcoin in general?
Mr. Joris: Yes the Bitcoin price took a huge price tumble after New Year. This prompted a reaction that was similar to last year Bitcoin bashing. In my opinion some corporate media, helped by a certain group of Bitcoin news sites, have been paid to do so. That way the lowered the jumping in point for people, investors and mainstream day traders alike, to buy Bitcoin. You just have to look at the trading volumes and have a basic understanding of how day traders work and it will become all too obvious that price manipulation is being done.
Let’s face it; it is much easier to write about bad things than focussing in on the positive aspects. However there are still opportunities for people who want to get involved in Bitcoin, especially now when the BTC price is very low (in comparison with other periods).
However some corporate media are looking at Bitcoin as if it were a company or a stock price of a company. Bitcoin should be seen as a decentralised currency with a hint of entrepreneurial flair. Now some big companies had also huge stock price drops in the past. For example the supermarket chain Delhaize introduced hamburger and fast food restaurants in Belgium in the 1960’s, together with a cabal of American investors. I became immediately obvious that the fast food formula wouldn’t be successful in that time and place. As a result the stock price of Delhaize took a hit. I gave this example to show that companies might have progressive ideas that may not work from the get go and that will have setbacks in price.
As Bitcoin is concerned the price does not really matter. What really matters is what is happening with Bitcoin acceptance, regulation, startup companies, etc. Because Bitcoin popularity is increasing on a global scale and is already being used for multiple companies, Bitcoin will not “crash and burn”, like some panicked people are claiming. Again those claims are not based on objective facts or quantifiable data. Most likely those panicked people are either afraid or being paid to create a fear so the price can go down even further.
Whatever the case Bitcoin will survive and will rise again in 2015. I predict that the price will rise to the levels of the 600-750 $ range. The price can go even higher when certain news, regulation standpoints, bank viewpoints ( though the KPMG report shows us some interesting developments ), etc. It will be a very interesting year.
Serge: You are telling us “not to worry about Bitcoin” but have you bought Bitcoin recently, let’s say in the past 20 days?
Mr. Joris: I bought some Bitcoins, about 15 I think. All of which i play with on a daily basis. I’m a bit of a day trader junkie (chuckles). Buy/Sell, Sell/buy I love it! Some of your readers may be mad when they read this but hey, the opportunity is there so grab it with both hands. You do not need to be a rocket scientist to see a pattern emerging in the trading.
So observe, study patterns and behavior and jump in. The odds that you make a profit is higher than in a casino. If you do not have a lot of money to spend, use small sums, that is how i got hooked on day trading.
We, Serge Schouterden and Jean-Pierre Buntinx, want to thank mr. Joris to do this short interview with us. The opinions that have been voiced by Mr. Joris do not necessarily coincide with our views at CryptoArticles.