{"id":16106,"date":"2019-08-02T00:00:00","date_gmt":"2019-08-02T00:00:00","guid":{"rendered":"https:\/\/crypto-economy.com\/bitcoin-btc-price-analysis-bitcoin-bulls-burst-back-add-6-but-is-btc-without-intrinsic-value\/"},"modified":"2019-08-02T00:00:00","modified_gmt":"2019-08-02T00:00:00","slug":"bitcoin-btc-price-analysis-bitcoin-bulls-burst-back-add-6-but-is-btc-without-intrinsic-value","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/bitcoin-btc-price-analysis-bitcoin-bulls-burst-back-add-6-but-is-btc-without-intrinsic-value\/","title":{"rendered":"Bitcoin [BTC] Price Analysis: Bitcoin Bulls Burst Back, Add 6% But Is BTC without Intrinsic Value?"},"content":{"rendered":"
Michael Novogratz, a former Macro Trader at Goldman Sachs, is comparing Beyond Meat\u2019s steady rise to the great Bitcoin rally of Q4 2017. Adding that though big ideas tend to captivate people\u2019s mind, leading to mega valuation, he warned that the price of the stock, just like those of Bitcoin in 2018, are likely to tumble.<\/p>\n
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Already, cracks are beginning to form. Dropping 10 percent following the company announcing a secondary stock offering, the stock could plummet in weeks to come. While talking to CNBC Squawk Box<\/strong><\/a> he said:<\/p>\n \u201cBeyond Meat reminds me a little bit of crypto in 2017. You get great bubbles on big ideas. This is a great bubble. It is trading at ludicrous price, but everyone gets sucked in. All the young guys on their Robinhood accounts are buying this. This is their crypto.\u201d<\/em><\/p>\n Meanwhile, cryptocurrency-and more so, Bitcoin believers, are riled by comments of Christopher Woolard, the executive director of strategy and competition at the U.K. Financial Conduct Authority (FCA). Branding the world\u2019s valuable digital asset as without \u201cintrinsic value\u201d, the executive follows the tune of Donald Trump and other Bitcoin bashers in the US. He warns investors saying:<\/p>\n \u201cConsumers should be cautious when investing in such crypto-assets and should ensure they understand and can bear the risks involved with assets that have no intrinsic value.\u201d<\/em><\/p>\n <\/a><\/p>\nBTC\/USD Price Analysis<\/strong><\/h2>\n