Why Have So Many Financial Experts Been Wrong About Bitcoin?

The bitcoin price has rocketed roughly 1,500% higher in 2017 to around $19,000, before correcting to the current price at $15,000. The #2 cryptocurrency by market cap, Ethereum, is up more than 5,000% year to date and many of the altcoins that we track have enjoyed similar gains. Cryptocurrencies have been one of the best-performing asset classes of all time.
So, why have so many astute investors and otherwise intelligent people been completely wrong about bitcoin? Why do they profess to know it’s future while simultaneously demonstrating their utter ignorance on the topic?
The sad truth is that everyone proclaiming bitcoin to be a doomed fraud will soon lose what remains of his or her credibility. As time goes on, and crypto continues to thrive, all those who speak ill of it will look like a joke and a half.
There are too many examples to count. For now, let us focus on five of the most prominent names in finance who have shouted from the rooftops of bitcoin’s imminent demise for all too long.

This post was published at GoldStockBull on December 9th, 2017.