Bitcoin Is a Market for Criminals and Millennials

Bitcoin Is a Market for Criminals and Millennials

Commodities guru Dennis Gartman isn’t backing off his dramatically bearish stance on bitcoin.

Dennis Gartman stated:

“This is a marketplace for criminals that is a marketplace for millennials. That is a marketplace for pure punters, but there’s no value here in any respect.”

Even the cryptocurrency’s tendency to bounce back in a huge way from steep declines isn’t swaying Dennis Gartman.

Bitcoin cash

Dennis Gartman stated:

“How are you going to purchase or promote a painting using bitcoin, while the change in volatility is twenty-thirty-fortypercent within the direction of a week? It is nonsense. I shall not exchange it.”

Bitcoin fell approximately twenty percent over the weekend, but regained many of its losses. Traditionally, the cryptocurrency has won about twenty-eight percent within the weeks following a drop of twenty percent or even more.

Monday marked yet another example of Dennis Gartman trashing the cryptocurrency. In August, Gartman mentioned, that he did not understand it to start with.

Dennis Gartman

Dennis Gartman noted that he appreciates cryptocurrency’s use of blockchain, but he believes there are better usage for blockchain.

Dennis Gartman stated:

“There is no doubt blockchain has advantage. It will change the way wherein we trade. It will change the way wherein we make investments.”

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