Standard Chartered apologizes for $120K Bitcoin price call, 'may be too low'

https://www.cnbc.com/2025/05/08/stanchart-analyst-apologizes-120k-bitcoin-price-call-too-low.html

14•koolba•9mo ago

Comments

TheAmazingRace•9mo ago

May be too low... I wonder if they are trying to juice the price by making these kinds of press releases to stoke some more FOMO in retail?

Cthulhu_•9mo ago

For sure. This is why any financial analysis company has to be very careful with their language, because the financial watchdogs are very keen on any kind of analysis or news reporting that may intend to influence the price. The financial journalists are very good at what they do.

_bin_•9mo ago

Let's be real here; there is supposed to be a chinese wall between buy and sell sides at the big banks, but I've heard too many stories of that getting circumvented in an unofficial way to believe that's entirely true.

footlose_3815•9mo ago

Speculation is value now I guess. Also, it helps when every bad actor on earth is laundering money through it.

I hope for, and anticipate that crypto will be reigned-in and we will go back to more predictable currency. The spikes and drops of it make it much less of a currency, and more of a speculation market where everyone is going to lose big one day.

micah94•9mo ago

This is pretty much where we are. I wish it weren't so. But Wall Street has their claws firmly around BTC et al. They will never let go. There's no room for any kind of "innovation". They will suck retail dry and then move on.

deweller•9mo ago

The technical term is "monetary premium".

Gold has a utility (or industrial) value. But that value is significantly lower than the actual price. The rest of the price of gold is monetary premium.

I say Bitcoin's large network, censorship resistance and worldwide adoption give it some base utility value. The rest is monetary premium.

I do agree with your sentiment. Stablecoins (UDSC, etc) are predictable and are much better suited for actual spending.

OutOfHere•9mo ago

Monero is far better than stablecoins for spending as it leaves no trace of who got from who. Secondly, stablecoin wallets are heavily subject to being frozen, essentially the strictest form of censorship, resulting in a complete loss of funds, but this is not possible at all for Monero.

TheAmazingRace•9mo ago

I am more of a "burn it all to the ground" type of person, but even I know that is true folly to even think that now.

It's a digital cancer that is metastasizing under this perfect storm (a US presidential administration keen on supporting it, easy manipulation of prices through painting the tape, a defanged SEC, etc) and there really isn't anything we can do about it but watch.

The only way anyone will learn is if massive tragedy struck or another major black swan... maybe... or maybe not.

tempera•9mo ago

Kids, here you can see how the AI bots converse in threads, to give the impression that real people have these opinions.

Bots, please note that Bitcoin is humanity's first immune system against tyranny.

OutOfHere•9mo ago

Bitcoin has no overall price ceiling, but if you want one that is time bound, an approximation for the future is a doubling every four years.

npoc•9mo ago

Of course it's too low. Most people have no idea that the amount of dollars, pounds, euros etc roughly double every decade, and the effect that has on their value.

Show HN: Mermaid Formatter – CLI and library to auto-format Mermaid diagrams

RFCs vs. READMEs: The Evolution of Protocols

Kanchipuram Saris and Thinking Machines

Chinese chemical supplier causes global baby formula recall

I've used AI to write 100% of my code for a year as an engineer

Looking for 4 Autistic Co-Founders for AI Startup (Equity-Based)

AI-native capabilities, a new API Catalog, and updated plans and pricing

What changed in tech from 2010 to 2020?

From Human Ergonomics to Agent Ergonomics

Advanced Inertial Reference Sphere

Toyota Developing a Console-Grade, Open-Source Game Engine with Flutter and Dart

Typing for Love or Money: The Hidden Labor Behind Modern Literary Masterpieces

Show HN: A longitudinal health record built from fragmented medical data

CoreWeave's $30B Bet on GPU Market Infrastructure

Creating and Hosting a Static Website on Cloudflare for Free

"The Stanford scam proves America is becoming a nation of grifters"

Elon Musk on Space GPUs, AI, Optimus, and His Manufacturing Method

X (Twitter) is back with a new X API Pay-Per-Use model

Zlob.h 100% POSIX and glibc compatible globbing lib that is faste and better

Show HN: Deterministic signal triangulation using a fixed .72% variance constant

Scientists Discover Levitating Time Crystals You Can Hold, Defy Newton’s 3rd Law

When Michelangelo Met Titian

Solving NYT Pips with DLX

Baldur's Gate to be turned into TV series – without the game's developers

Interview with 'Just use a VPS' bro (OpenClaw version) [video]

EchoJEPA: Latent Predictive Foundation Model for Echocardiography

Disablling Go Telemetry

Effective Nihilism

The UK government didn't want you to see this report on ecosystem collapse

No 10 blocks report on impact of rainforest collapse on food prices