Rick Rieder, a top manager at the large investment company Blackrock, has suggested that Bitcoin will grow strongly in the near future, despite the recent drop in the cryptocurrency market. Rick Rieder was featured on CNBC's Squawk Box this week.
According to a study by Save the Student, the number of American students investing in cryptocurrencies has tripled over the past year. If last year a similar survey showed that only 2% of students in the United States bought cryptocurrencies, now, according to the study, this figure has increased to 6%. The reason for this is tuition fees, which are a very important issue for American students.
Former Goldman Sachs executive Raul Pal said that for him the $ 20,000 ETH price "looks quite reasonable." During the Bankless podcast, the CEO of Real Vision said that he got such a prediction after comparing the current Ethereum price chart and the Bitcoin price chart for 2017.
Bloomberg analyst Mike McGlone believes that Bitcoin and Ether have found strong support in the past months and are in a growth phase. The Bitcoin rate, in his opinion, may well reach $ 100,000.
Despite the consolidation of Bitcoin in recent weeks, Celsius CEO Alex Mashinsky is still confident that the price of BTC will reach $ 140,000 or even $ 160,000 by the end of the year. In an interview with Yahoo Finance, Alex Mashinsky stated that the main purpose of Bitcoin is to store wealth.
Pantera Capital CEO Dan Morehead believes that the launch of the second version of Ethereum will help ETH surpass BTC and become the largest cryptocurrency. According to a Reuters publication citing Dan Morehead's speech at the Reuters Global Markets Forum, the CEO of Pantera Capital believes that ETH has the potential to surpass BTC and become the largest cryptocurrency.
Man Group hedge fund CEO Luke Ellis likened cryptocurrencies to tulip rush. At the same time, the fund is interested in trading cryptocurrencies due to their high volatility. In his interview, Ellis described cryptocurrencies as speculative trading instruments with a high level of risk.
Securities and Exchange Commission (SEC) Commissioner Hester Peirce is concerned that the US may lag far behind other jurisdictions in adopting tradable exchange-traded funds (ETFs) for cryptocurrencies. Speaking at "The B Word" online conference, Peirce expressed concern that Canada and Brazil have already approved the launch of these investment products, while the US is still "in thought."
Former US Treasury Secretary Stephen Mnuchin has changed his hostility towards Bitcoin to a more loyal one. However, he himself is not going to invest in cryptocurrencies. The administration of former US President Donald Trump was known for its disdain for cryptocurrencies, and Trump called Bitcoin a "scam."
Bitcoin price has been holding in a narrow corridor between $ 30,000 and $ 35,000 for several weeks. Glassnode analysts have named the factors that can push the Bitcoin rate up. After recent fluctuations in the cryptocurrency market associated with bans by the Chinese authorities on mining and trading cryptocurrencies, the Bitcoin rate has stabilized and is holding in a narrow range.
Cryptocurrency analyst Willie Wu believes the market has not yet become bearish. The speedy recovery of the Bitcoin rate is hinted at by the data of the indicators of the blockchain operation. During the podcast "What Bitcoin Did," Willy Woo emphasized that he sees no signs of a classic bear market.
CoinShares Development Director Meltem Demirors described the recent drop in Bitcoin as a normal market correction that weeds out panic-prone traders. After Bitcoin's April high attempting to cross the $ 65,000-mark, novice traders may be worried about the current decline. Demirors is convinced that after 200 days of the rise in the cryptocurrency market, its subsequent fall is quite normal, since the price of any asset cannot constantly go up.
Michael Saylor, CEO of MicroStrategy, believes that ETH is good and demeterializes JP Morgan, and Bitcoin is 50 times more attractive for investment than Gold. Previously, Sailor rarely spoke about other cryptocurrencies, in addition to Bitcoin. However, during a recent Fast Money program on CNBC, Sailor stated that Ethereum has its place in the cryptocurrency ecosystem. According to him, Ethereum is a "digital application" that "dematerializes JPMorgan, banking institutions and any exchanges." Further, Sailor called investing in Bitcoin much more attractive than in Gold:
Dan Morehead, CEO of a large cryptocurrency hedge fund "Pantera Capital", notes that the decline in cryptocurrency rates and the panic in the market that is currently taking place make it possible to buy Bitcoin. In his monthly letter to investors, Morehead emphasized the need to buy cryptocurrencies, and any other assets, when the markets are "below trend."
American entrepreneur Elon Musk said that Tesla will resume accepting payments in Bitcoins after miners switch to using energy from renewable sources. Musk made this statement in response to the accusation of the CEO of Sygnia Magda Wierzycka of manipulating the cryptocurrency market.
According to the published document, banks can provide such custodial services provided that they have developed appropriate policies for effective risk management and compliance with applicable legislation. Given that cryptocurrencies do not exist in physical form, but in the blockchain, the owner of cryptocurrencies has private keys with which he can access them. The regulator explained that banks can store cryptocurrencies on behalf of customers by storing copies of their private keys, while users will be able to have direct control over their crypto assets.
Google will allow cryptocurrency exchanges and wallets from August 3 to advertise their services to American users, subject to certain conditions. In 2018, Google banned advertising of all financial instruments that could pose risks to users, and cryptocurrencies were no exception.
The founder of the Binance exchange, Changpeng Zhao, said that no amount of regulatory action will be able to destroy Bitcoin and the blockchain. It is much more effective to work out a clear regulation of cryptocurrencies. Changpeng Zhao expressed his opinion at the virtual conference Consensus 2021.
