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Comment by bluedevil2k | Hacker News Reader

> Bitcoin should eventually climb to about about $400,000, Scott Minerd, chief investment officer of Guggenheim Investments, told Bloomberg Television in a Dec. 16 interview

Wild speculation if you ask me. I don't think anyone can predict where the price is going. These same guys were saying $50k in 2017.

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If organizations like Bloomberg are going to quote people's price predictions, they should have a way of tracking the accuracy of people's past predictions. Otherwise, this is just noise: of course people holding an instrument want you to believe it will go up. (This isn't crypto-specific; the same applies to equities etc.)

The rule in finance is that if you give a timeframe don't give a number, and if you give a number, don't give a timeframe. This way you are never wrong, and you may eventually be right.

I don't think anyone with any credibility says things like this unless they are either capable of manipulating the price (or know someone who is, and who will), or unless they are trying to hype it for short term gain.

But some people proably ARE manipulating the price. Who are they ?

Tether.

Still? I thought they got shut down. They were in the government's bullseye for quite a while.

Nope, still alive and kicking. Still no proof they're doing something illegal. If there was proof, it wouldn't exist anymore.

I always find it amusing that prominent investors can move the markets with these interviews regardless of the validity of the underlying statement they make (and how they're probably very much aware of this...)

$400K would be justified if Bitcoin replaces gold.

More crazy and wild speculation

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