Over the weekend, bitcoin "died" for the 200th time, but, to the ire of bears across the globe, the most prominent cryptocurrency refuses to acknowledge its supposed demise. And that is not even considering the market cap of equities and other forms of investment. "I presume that by this time next year, $10K for a bitcoin will seem like a bargain".
The trend has had its detractors, of course.
At the start of 2017, Jamie Dimon, Chairman and CEO of JPMorgan Chase referred to cryptocurrencies as fraud. The RBI said it wanted to reinforce its previous message to "users, holders and traders of Virtual Currencies (VCs) including Bitcoins regarding the potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with such VCs". Later in October, he would add to the disdain. You can always buy some and join the ride.
What makes Bitcoin better than any other asset? Before the end of the month, however, something would change. Chairman and Chief Executive Jeffrey Sprecher told a financial conference in NY on Tuesday. "Square and the CME are just the beginning of the next wave".
Cryptocurrency bitcoin smashed through the $12,000 mark early this morning amid fears of a bubble among analysts.
Still, Sprecher said he was not ready to move forward yet on futures contracts based on the type of assets Coinbase trades. He predicted the cryptocurrency could reach $14,000 before bitcoin futures start trading at the Cboe Global Markets next week.
The UK Treasury is planning to include bitcoin and other cryptocurrencies under the purview of of the European Union's anti-money laundering and counter-terrorism financing legislation.Читайте также: Ross Paterson Purchases 83 Shares of Stagecoach Group plc (SGC) Stock
Financial institutions in particular have been wary about the growing popularity of the Bitcoin.
Bitcoin would need to be widely accepted by merchants as a payment option, which would mean that merchants would need to understand bitcoin and know how to use it.
Some traditional banking executives remain sceptical of bitcoin. Transaction volume is an important indicator that signifies investor interest - short term and long term.
In addition to market making issues, the addition of NASDAQ and Cantor Fitzgerald to the exchange mix might dilute liquidity.
"We didn't think it was obvious to rush out a product and be first and settle against an index on a lot of exchanges that are not particularly transparent", Jeff Sprecher said at a financial services conference hosted by Goldman Sachs Group Inc.
Learn more factors affecting cryptocurrency prices. When he was saying this, Bitcoin price was already past $1,000. It's not a non-fiat [digital currency]. The million dollar question for bitcoin right now, quite literally, is whether it has the capacity to survive this climb in valuation. They may determine that their own cryptocurrency, with the backing of something tangible through an organized regulatory structure, is more appropriate and create their own version of Bitcoin. Many hedge fund managers have also expressed bearish sentiment toward bitcoin, and may see this as a compelling shorting opportunity once the futures are rolled out. With the jinx of a recent Barron's cover noting that "Bitcoin Storms Wall Street", the mantra appears as though the trend is your friend - until it isn't.При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
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