We know that the price increases distract your attention from news, which is why we have prepared a summary of the last few days.
Bitcoin will be like gold
Mike Novogratz returns to our portal. In the past week he told Bloomberg TV that Bitcoin would be a digital gold and a kind of “sovereign” money. Optimism does not leave him, and last year’s drops he takes with a slight humor. Asked by the journalist what he thinks about them, he replied that they showed “how painful the bubble bursting can be.” He also maintains that institutional investors will soon enter the cryptocurrency market.
A new BTC bubble
We stay in the area of the price. Whu Fa, the founder of Poolin, a Chinese mining poet, said that bitcoin would cost 5 million yuan in the future (which gives us USD 740,000). In his opinion, we are approaching a new bubble on cryptocurrencies. We are facing a historical bull market, because this is going to be the last bubble in this market. It is expected to bring an increase in the rate of each digital currency and token by 10-20 times compared to the prices from 2017. So, wait!
BTC is cheap
Let’s also say Brian Kelly, a well-known investor:
“We are beginning to notice that some global macro players use bitcoin as an alternative to gold or as a way to hedge currency fluctuations and volatility.”
Kelly also thinks that bitcoin alone is at least twice as cheap, but he still expects the rate to fall sharply. However, this will be the last wave of bear market. He is also waiting for the ETF based on the cryptocurrency, but this one will appear – in his opinion – rather in 2020. The situation on the market is assessed as follows:
“The euphoria we saw last year is a mirror reflection of the pessimism we now see.”
JP Morgan and his own coin
Every one of you has probably heard about this news. JP Morgan will issue his own digital currency. Media on it was told by Umar Farooq, responsible for this project:
“Even if it was limited to JPM clients at the institutional level, it should not stop us. (…) The possibilities of its use are virtually infinite. Everywhere, where decentralized accounting technology is available, as well as corporations or institutions, you will be able to use it without any problems. “