Crypto Spring Is Here, eToro CEO Believes

As Yoni Assia believes, the current situation in the cryptocurrency market indicates the onset of a cryptocurrency spring
27 May 2019   774

The resumption of growth in trading volumes of bitcoin signals a new wave of interest in cryptocurrency. About this in an interview with the portal Crypto Potato, said the head and co-founder of the social investment platform eToro Yoni Assia.

The current situation in the cryptocurrency market, according to Assia, indicates the onset of a cryptocurrency spring.

The spirit is back in the market. The bulls are still there. Bears didn’t kill the bulls yet, and I think we’re seeing somewhat of a revival.
 

Yoni Assia

Co-Founder and CEO, eToro

In 2018, the volume of trading on the eToro site grew to almost a trillion dollars. Despite the fact that these cryptocurrency trading volumes are still far from those of the end of 2017, when Bitcoin showed record growth, Yoni Assia is optimistic.

I do believe that we will see Bitcoin at much higher prices in the medium term. [I'm] not necessarily that a good [of a] trader. It’s very hard to try and predict the markets.
 

Yoni Assia

Co-Founder and CEO, eToro

In April, the eToro blockchain division launched a cryptocurrency exchange with support for various stablecoins.

PBoC to Continue Anti-Crypto Propaganda

The regulator published a warning in its WeChat account called “Protection of the rights and interests of consumers of financial services”
23 March 2020   299

The People's Bank of China has returned to criticism of cryptocurrencies amid a worsening economic situation in the world.

On March 22, the regulator published a large-scale warning in its WeChat account under the heading “Protection of the rights and interests of consumers of financial services”. It describes three ways in which cryptocurrency service providers can mislead consumers.

First of all, the amount of fraud transactions with bots is serious. The average turnover rate of the top three overseas crypto currency exchanges is much higher than that of foreign licensed exchanges. Second, market manipulation exists in these exchanges where forced leveraged trading eventually causes the exchanges to explode. Third, money laundering is a big issue.

 

People's Bank of China

In addition, the Chinese Central Bank calls the opinion that Bitcoin may serve as a protective asset, erroneous. The regulator indicates its high volatility and recommends that citizens not follow the example of other investors and refuse to participate in cryptocurrency trading.