Mark Dow: I Want Bitcoin to Go to Zero
Analysis
Price Impact
LowMark dow's strong bearish stance ('wants bitcoin to go to zero') is a known narrative from a long-time critic. while his successful 2017 short is highlighted, his consistent permabear position means the market has likely priced in or will largely disregard such comments.
Trustworthiness
LowDespite a notable successful short in 2017, dow has been consistently bearish on bitcoin for over a decade, missing significant rallies (e.g., 133,000% after one 'tax on stupidity' tweet). his current comments align with a permabear outlook, which historically has not held up against bitcoin's long-term trend.
Price Direction
NeutralThe market is unlikely to react significantly to mark dow's reiteration of his long-standing bearish views. his position is well-known, and while his opinion is negative, it's generally seen as fud from a known permabear rather than a new catalyst for price movement.
Time Effect
ShortAny potential, albeit minor, reaction would be immediate as news spreads, but due to his established permabear status, it's unlikely to have any lasting or significant effect on bitcoin's price trend.
Original Article:
Article Content:
Cover image via U.Today Read U.TODAY on Google News The hedge fund manager and economist who famously shorted the 2017 top is rooting for the total annihilation of the cryptocurrency industry to punish the "grifters." Advertisement Mark Dow, the macro trader and former IMF economist best known for calling the Bitcoin top in 2017, has offered his harshest condemnation of the industry to date. Dow is now actively wishing for the asset to evaporate completely. HOT Stories Mark Dow: I Want Bitcoin to Go to Zero Crypto Market Prediction: Will XRP Break Bullish Trap? Shiba Inu's (SHIB) 3 Bullish Targets, Ethereum's (ETH) 300-Day Record Broken "I want bitcoin to go to zero," Dow declared. "And I want all the grifters who pumped this to rubes on the back of moronic fearmongering of monetary policy and promises of generational wealth to be fully invested as it happens." Advertisement Dow gained some prominence after famously announcing that he had shorted Bitcoin back in December 2017. He wrote that Bitcoin’s price had become "random" and disconnected from any reality, He noted that the introduction of CME Futures provided the catalyst for the bubble to pop, given that institutional bears could finally bet against it. In December 2018, almost exactly one year after opening the short, Dow closed the position near the absolute bottom (approximately $3,200). Advertisement “I’m done. I don’t want to try to ride this thing to zero,” he said back then. A broken clock? Despite his president trades, which could have been pure luck, Dow’s takes should be taken with a grain of salt, given that he has been a Bitcoin permabear for well over a decade. At the same time, some industry proponents have dug up an old tweet by Dow, in which he claims that Bitcoin is a tax on paranoid stupidity. Since then, the world’s largest cryptocurrency rallied by 133,000%. #Bitcoin Price Prediction