Bitcoin doesn't need institutions to take off, says crypto expert




Lou Kerner, partner at Crypto Oracle, and CNBC’s Kate Rooney join “Power Lunch” to discuss bitcoin as the cryptocurrency slides lower.

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30 Comments

  1. When the economy begins crashing, then the Institutions will convert there fiat money into Bitcoin right away.? …. Is a matter of survival.
    They must be stuck with needles, then they will wake up….. They will get out of their fuzzy stupor…. and Bitcoin will rise to great heights.

  2. Haha noobies, if you do some TA you'll see it has nothing to do with emotional levels like 9k but rather with a quadrippel bottom which can never hold and is always a bearish sign (look at 6k 1y ago…) + we didn't even reach the .5 FIB before, the drop was more than expected imo. It will not take long before we get bullish again and then indeed 20k will flip to a support level soon.

  3. CNBC is just loudmouths talking about the price, no grasp of the underlying technology, monetary policy, or societal implications.

  4. I really hate that girl in the middle in every single segment I've EVER seen her in on this show. She comes off as confused, ignorantly argumentative and dumb every single time. She makes paper arguments; here saying "people" are quick to say bitcoin is like digital gold when it's going up and those arguments go when it's going down. First off, it's not going down. No asset ever goes up in a straight line, but BTC is the closest thing to that, being the best performing asset ever, of all time. You can't fight basic numbers. Why does she keep trying? I guess it's better than someone actually good at their job going on there, it just makes BTC look like a sure thing in the face of her dumb-money stupidity.

  5. Over the long run, Bitcoin is a risk-off asset. It is a hedge against devaluing fiat currency just like gold is. But in the short-term most people buying it are doing it speculatively. Therefore their behavior creates a risk-on environment. So if you buy for the short-term, you should realize you could see significant losses as well as significant gains. If you buy for the long-term, you should be confident you are going to be very glad you did in future years.

  6. I think people need to take a step back from speculation and emotion for a bit regarding bitcoin. Bitcoin is certainly more useful than fiat currency. Decentralized, faster transactions, more security, etc.. However it is not the most robust crypto for world markets. It is just the first and most shiny thing right now. The problem with bitcoin is that when the transition/demand for crypto currency arrives, they won't be the most efficient or useful crypto. The popularity that bitcoin is experiencing is not based on real practical use cases. That is a dangerous thing to invest in. Basically it is a bubble of hype, and that bubble is showing signs of just how low it can pop to. The correction that will occur with bitcoin when people actually try to start using will be devastating. It isn't designed well enough to handle the world trade, but is only hyped as a possibility to be an alternative payment method. Bitcoin will be eclipsed by more efficient and useful alt coins the moment the world needs to actually rely on this stuff. Don't waste thousands of dollars on a hype train, and put your money on actual valuable coins that do better than bitcoin in real use cases and wait for their true value to be revealed. That's why I am with XRP. Bitcoin has zero major banks signed into their ecosystem, and other than baakt they don't really have an ecosystem. I don't think they ever will, because you can't actually convince real businesses or banks to invest in that technology. XRP has already made bitcoin a legacy coin when it comes to actual speed, transaction limits, and security, and the crypto revolution hasn't even started yet.

  7. He's right…it doesn't…what it requires is a herd of digitqlly damaged and financially ignorant sheeple. You think you are CONTROLLED now…just wait until the psychopathic banksters have you 100% cash free and you can't even by a soda unless your social cridit score is correct. Do you REALLY believe in """VIRTUAL WEALTH """" time to grow up !!!

  8. Better to invest small with no stop loss than to put all your eggs in one basket only to lose %25 of your wealth to a forced sell of an undervalued asset

  9. Bitcoin 2020 mining reward halving closing in minute by minute …⏳

    Bitcoin logo on Watford FC ⚽️ shirts again next weekend v Sheffield United in the English ??????? Premier League shown on TV Worldwide.

    Good to see former US Presidential Candidate Ron Paul is headline speaker at the Łitecoin Summit in October ??

  10. Bunch of wall street rats and Mckinsey dorks jumping on this tech is not the sign of adoption. It has to serve its true purpose which is be a universal medium of currency for everyone around the world . Right now its not, forget the west , nobody in asia is crazy enough to use this . This tech is a long way from true adoption.

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