After the Bitcoin rate jump at the beginning of the month, the price of the first cryptocurrency is in the consolidation phase. However, some traders believe that Bitcoin will soon reach $ 5,800.
Despite the fact that in recent days, the rate of the first cryptocurrency has slightly increased, the main resistance is at around $ 5,400. Bitcoin price is approaching this mark, but so far, it cannot break through the wall of orders placed by sellers.
Professor INSEAD and co-founder of the Blockchain Research Institute (BRI) Don Tapscott said that the Yuan - the official Chinese currency - will become a cryptocurrency.
In an interview with Bloomberg, Tapscott said that he recently met with the vice-chairman of the Chinese Communist Party. The official stressed that the Secretary General of China, Xi Jinping, sees great potential in the blockchain technology and believes that it can play one of the most important roles in the future of the state.
According to the CCAF study, the lack of uniform terminology for cryptoassets is the main obstacle to adopting a clear regulatory policy in the industry.
According to a study by the Cambridge Alternative Finance Center (CCAF), the various key terms in the cryptocurrency industry often interchanged and not clearly defined which makes global regulation difficult. Conducted with the support of the Nomura Research Institute (NRI), the Research provides a detailed analysis of the regulatory framework for cryptoassets in 23 jurisdictions. The data collected mainly through desk research from November 2018 to early February 2019, the report says.
The head of Bakkt, the platform for institutional clients, Kelly Loeffler: "race day" is nearing, the platform is waiting only for approval of an application from the Commodity Futures Trading Commission (CFTC).
Initially, it was expected that the Bakkt platform would be launched at the beginning of this year, but the start was postponed due to the lack of approval by the company from US regulators. However, the company's management still believes in the launch of the platform already this year.
Clem Chambers, general manager of the ADVFN financial market website, believes that the cryptocurrency winter is over and the price of Bitcoin will rise to $ 10,000 by the end of the year.
"All last year I said that Bitcoin would fall to $ 2.500. As a result, his quotes stopped at $ 3.000. Now he started to grow and I think his first goal is $ 6.000, and then $ 10.000," he said in interview to Forbes. "At the moment, we can safely say that the cryptocurrency winter is over. Here is my forecast."
The founder of Ethereum, Vitalik Buterin, supported Bitcoin SV delisting occurring on several exchanges.
Vitalik replied to a Twitter user post with the nickname @Nic__Carter, who wrote:
"If fraud from the chief promoters is sufficient reason for a delisting from Binance... almost everything should be delisted"
The head of Xapo expressed the opinion that every responsible investor should invest at least 1% of his investment portfolio in Bitcoin, because the first cryptocurrency can affect the world more than the Internet.
Wences Casares stressed that if you invest in Bitcoin, for example, 1% of the $ 10 million portfolio, this investment can bring up to $ 25 million in 7-10 years. According to the head of Xapo, the rate of the first cryptocurrency may well reach $ 1 million in a specified period of time. If Bitcoin disappears, then the loss will be only $ 100,000.
Well-known venture investor and cryptocurrency enthusiast Tim Draper plans to meet with Facebook top managers in order to discuss the possibility of investing in the new stablecoin.
"I am interested to hear the story," Draper said in an email to Bloomberg News. "We will see if it is a fit."
The founder and head of the BKCM LLC cryptocurrency hedge fund Brian Kelly (Brian Kelly) said that behind the growth of Bitcoin are strong fundamental factors.
In the program "Fast Money" on CNBC Kelly explained why this month the price of the first cryptocurrency rose to the level of November last year. In addition, according to the founder of BKCM LLC, there is a high probability that the $ 3,200 mark will become the "bottom" of the market.
As Circle CEO Jeremy Allaire said, the cryptocurrency industry is almost ready to change the underlying truths of civil society.
Allaire stressed that the main problem lies in the trust between people and technology, including the blockchain technology. At the same time, a simple principle operates in the cryptocurrency community: "we believe in cryptocurrencies".
In the first three months of this year, less than 350 ICOs held, which is almost two times less than in the previous quarter. However, in terms of the amount of funds raised, the gap is not so large - if in the 4th quarter of 2018 the ICO collected about $ 1.5 billion, in the first quarter of this year the amount of funding amounted to about $ 1 billion.
Today Telegram has provided access to a test version of the TON network to a limited number of professional teams.
It seems that the cryptocurrency community will see the finished version of the TON network in the near future. At least the "Vedomosti" Russian news agency reported this, citing information from two sources.
Winnie Lingham, general partner of Multicoin Capital and the head of Civic, believes that if the Bitcoin rate rises above $ 6.200, this will signal the beginning of a new cycle in the bull market.
"That said, if we can break $6.200 for BTC, it will likely mark the start of another major bull run and could run hot and high, but if it's pure speculation and other assets benefit disproportionately to value created, it's likely not going to end well again," Lingham said.
Chinese cryptocurrency billionaire Zhao Dong expressed the opinion that the "bearish" market is not over yet and the rate of Bitcoin will not exceed the mark of $ 6,000 for most of 2019.
Zhao Dong believes that the price of Bitcoin will be within the channel $ 4,000- $ 6,000 at least until October of this year. As for the recent rise in the price of the first cryptocurrency, the rate is still in this channel.
Throughout the existence of Bitcoin, it was repeatedly called a bubble. This was also the case in the period of super-fast growth in 2017, when many economists claimed that the bubble would pop soon.
However, according to Ran NeuNer, the host of the Crypto Trader program on CNBC, not one bubble can pop twice.
Lead Monero developer Riccardo Spagni said that Bitcoin will always have competitors, but it can become the global reserve currency.
Spagni stressed that Bitcoin will never remain the only cryptocurrency, as this contradicts the very nature of human society, where struggle and competition are inevitable.
The head of the Coinbase cryptocurrency exchange, Brian Armstrong, believes that in order to take digital assets, it is necessary to reduce volatility, as well as to improve the scalability and use of coins.
According to Brian Armstrong, the strong volatility of the cryptocurrency market scares off large investors, who are used to investing in traditional financial institutions, so the industry needs more stable prices.
Well-known entrepreneur Andreas Antonopoulos said that in order to use Bitcoin in the financial sector, it is necessary to develop scenarios for its practical application.
Antonopoulos believes that one day the time will come when the first cryptocurrency will take the place of the current banking system based on fiat payments. However, for this, average consumers must understand the advantages of Bitcoin and thoroughly explore the options for using it.
