Bank to boost your stock price, add blockchain to your company name! This is a repeat of the dot com bubble when you say companies renaming them to capitalize on the .com boom! Obviously it did not work for all.
The noted economist thinks the price of bitcoin is going to zero. Roubini, who is also known as “Dr Doom,” claimed some people will use a market manipulation tactic known as wash trading to prop up the bitcoin price. He called bitcoin the “biggest bubble in human history” last week.
“Increasing regulatory recognition of cryptocurrency exchanges, the entrance of institutional capital and major technology developments will contribute to the market’s rebound and push cryptocurrency prices to all new highs this year,” Thomas Glucksmann, head of APAC business development at cryptocurrency exchange Gatecoin, told CNBC by email on Tuesday. “There is no reason why we couldn’t see bitcoin pushing $50,000 by December.”
Remember the iced tea company that changed the name Long island block chain company and the stock shot up 500%? They just dropped the block chain from their name!! Reminds you of the dot com boom when everyone was branding themselves as .com and poof it did not turn out that well for them? Signs of the bubble and the coming bitcoin bust?
Entrepreneurs have come to believe blockchain could transform many more industries. Ultimately, the use cases for a transparent, verifiable register of transaction data are practically endless — especially since blockchain operates through a decentralized platform requiring no central supervision, while still remaining resistant to fraud.