Seriously, I cannot even with this stuff. Today, in obvious news:
🐂 Bull case: BTC to infinity
🐻 Bear case: BTC to zero
TLDR conclusion: "we think the price of BTC will most likely end up between those two outcomes"
Andolfatto and Spewak: The price of an unbacked asset is likely to be highly volatile and inherently unforecastable
While Bitcoin's is not likely to fall to zero, a flood of competing altcoins is likely to lower the purchasing power of all cryptocurrencies, including Bitcoin https://t.co/uTh7KaeWv0