By Teresa Rivas, blogs.barrons.com
After the string of bad news earlier this year, Bitcoin has remained in the news, from scrutiny from the U.S. government to backers trying to restore confidence in the cryptocurrency, and Goldman Sachs denying it could ever replace gold.
Bitcoin supporters may be unhappy with all the coverage, but the alternative might be worse, writes Nicholas Colas, ConvergEx Group’s chief market strategist. In a new thought experiment, he examines five fictional headlines that could further damage Bitcoin in 2014—but perhaps the most damaging of all might be no news at all, as a lack of splashy, sexy developments may be part of what is pressuring the price lower.
Colas writes that he is neither a Bitcoin advocate or skeptic, but simply “the most fascinating intersection of technology, money, and human trust to come our way since the popularization of the Internet in the 1990s.” He likes its potential as a disruptive technology, but also notes that it has plenty of high profile detractors and real concerns surround its future.
READ MORE
{ 138 trackbacks }