Monday, September 09, 2019 4:44:36 AM
This week was full of various events for both participants of the cryptocurrency industry as well observers. Here are some expert comments on the current development of the digital asset market.
On Monday Yves Mersch, Member of the Executive Board of the European Central Bank (ECB) criticized Facebook’s Libra.”Libra could reduce the ECB’s control over the euro, impair the monetary policy transmission mechanism by affecting the liquidity position of euro area banks, and undermine the single currency’s international role” . The official has also noted that Facebook’s cryptocoin will in fact be accountable to shareholders, raising trust issues, as it will not be backed by a central bank. Mersch called on regulators to take tight control over Facebook’s projects, and for users not to trust the tempting but questionable promises from the representatives of the American company.
Meanwhile, Jack Dorsey, the head of Square payment start-up and Twitter co-founder, continues to insist that cryprtocurrencies will continue to spread. The businessman believes in bitcoin, but he thinks that it is still too early to call it currency. In one of his latest interviews Dorsey notes, that bitcoin’s rises and falls in prices are more characteristic of a investment asset, such as gold. He hopes that as soon as the cryptocurrency becomes the currency of the Internet, his own start-up will pay more attention to services that create added value, rather than those that are engaged in money transfer
Mark Mobius, an investor in developing markets and Mobius Capital Partners founder said that gold-backed cryptocurrency can be an interesting phenomenon. The investor emphasized that there is a whole generation of people who have faith in the internet, and they have faith in cryptocurrencies.
“People believe in dollar because they have faith that with dollars in their hands they can buy something. Crypto enables people to buy something merely because they believe it has value”, Mobius said.
In the beginning of the week trader Peter Brandt tweeted that bitcoin has entered the fourth cycle of the parabolic uptrend that could lead it significantly past its all-time high price. The analyst is confident that the price of Bitcoin will reach one hundred thousand dollars in the long run. And although this bold prognosis does not yet have lots of supporters, one can’t ignore the fact that the price of the main cryptocoin is showing steady growth since Monday.
According to Coinmarketcap, by September,6, bitcoin rose in price up to $10 875, starting from the mark of $9 623 on the night of September,2.
Recent EOSUSD News
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- History of Crypto: The ICO Boom and Ethereum's Evolution • Cointelegraph • 04/02/2024 04:05:00 PM
- Apple co-founder wins major verdict against YouTube in Bitcoin scam lawsuit • Cointelegraph • 03/20/2024 10:28:49 AM
- Bitcoin Mining Firm CEO Predicts Start Of ‘Supercycle’, What It Means • NEWSBTC • 03/05/2024 05:00:37 PM
- Two AI-Related Crypto Assets Rally As OpenAI Launches Text-to-Video Artificial Intelligence Model • The Daily Hodl • 02/18/2024 01:00:35 AM
- Ordinals Could Create Completely Different Bitcoin Ecosystem, Says Binance Research – Here’s Why • The Daily Hodl • 02/11/2024 09:00:12 PM
- Prosecutors call for hearing over lawyers representing Sam Bankman-Fried and Alex Mashinsky • Cointelegraph • 02/07/2024 04:29:30 PM
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- Crypto Analyst Predicts Potential Trend For Bitcoin As Price Slips • NEWSBTC • 01/19/2024 05:00:07 PM
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- Crypto Research Firm Says ‘Sell All Your Cardano (ADA)’, Here’s Why • NEWSBTC • 01/16/2024 08:30:50 AM
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- Bitget Celebrates the 15th Bitcoin Whitepaper Day With ‘Satoshi’ on the Street and BTC Giveaways • The Daily Hodl • 10/31/2023 05:06:44 PM
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- Solana (SOL) Leads Gains Among Top Coins, Can Bulls Send The Price To $40? • NEWSBTC • 10/31/2023 12:00:51 PM
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Kona Gold Beverages, Inc. Prepares for First Production Run Set to Launch May 17, 2024 • KGKG • Apr 22, 2024 8:30 AM