Another senior Swiss central banker has noted the diminishing enthusiasm of governments to mint digital coins.
Todd Gordon, founder of Tradinganalysis.com, is one of those analysts who believe the bottom line is that Bitcoin will eventually recover, by early 2019 to be precise.
“I did expect Bitcoin to drop, I thought for a long time we’re going to drop below $5,000,” Gordon told CNBC.
Others Like the $10,000 Mark Too
Other members of the crypto space have made similar predictions about the mid-term prospects for bitcoin.
Bogart, a partner ат Blockchain Capital, also noted that most coins are overvalued in comparison with bitcoin.
The US SEC has decided Bitcoin and Ethereum will not be regulated as securities but the debate continues to rage over Ripple, the third-largest cryptocurrency by market capitalization. Some argue US FinCen has already set a precedent for Ripple’s definition, which will mean the SEC must eventually follow suit.
George Friedman, a well-respected Hungarian-born U. S. geopolitical forecaster and strategist on international affairs, believes blockchain technology will eventually become “obsolete” — and he may be right.
It’s been a dramatic week in crypto, with Bitcoin finally bursting out of the symmetrical triangle that had been forming since January. The coil wound increasingly tight, and eventually sprung to the downside, leading...
Weekly Price Analysis: Bitcoin Swings Low
It’s been a turbulent time for the cryptocurrency markets, so now is a good time to reflect on how and why we got here in the first place. First, an op ed makes the ideological case for Bitcoin.
In an informal statement made at Yahoo Finance’s All Market Summit: Crypto, William Hinman, the United States Securities and Exchange Commission (SEC)’s director of corporate finance, indicated that the regulatory agency has no plans to deem ether a security.
The shift has already started; finance is moving onto the blockchain, leveraging the decentralization and disintermediation benefits of the technology’s architecture.
The hacking of exchanges and relentless attacks from financial powers have, in the short run, adversely affected the price of Bitcoin. For example, frequent exposure to hacking will eventually make Bitcoin and other cryptocurrencies immune to such attacks.
South Korea just ruled that bitcoin is a legally recognizable asset, which is good news for investors, but not such good news for convicted criminals that had managed to hold onto their cryptocurrency in the past.
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As Bitcoin price continues to decline, senior analyst Todd Gordon shares his take on the current market conditions – and where the price of Bitcoin will go from here. Todd Gordon, founder of TradingAnalysis.