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  • Deutsche Bank: 'The value of bitcoin is entirely based on wishful thinking'

    05/20/2021 3:53:55 PM PDT · by DUMBGRUNT · 105 replies
    Yahoo ^ | 20 May 2021 | Ethan Wolff-Mann
    "Bitcoin: Trendy is the last stage before tacky," quoting the late fashion icon Karl Lagerfeld. "Bitcoin: Trendy is the last stage before tacky," quoting the late fashion icon Karl Lagerfeld. “All it took for the cryptocurrency to fall out of style was one tweet and a Chinese government statement,” she wrote. This is why Labouré says “the value of bitcoin is entirely based on wishful thinking.” Bitcoin’s (BTC-USD) price plunged 28% this week, this most recent meltdown spurred by an announcement from China and an Elon Musk tweet. The controversial crypto is now losing even more love on Wall Street...