Market Rejects Everything Except BTC, - Heisenberg Cap

Venture capital firm analysts believe Bitcoin is climbing toward their 2011 target of $100,000
06 May 2019   785

The digital asset market will gradually reject all altcoins, leaving room only for the first cryptocurrency. However, first Bitcoin should increase significantly in price. This was stated by analysts of the venture capital company Heisenberg Capital.

According to CoinMarketCap, the weighted average price of Bitcoin decreased by 2.04% and amounts to $ 5665.

As stated at official website, Heisenberg Capital is "riding the crypto wave. Since 2011". It had invested in such big players as Kraken, Shapeshift, Bitfinex, Bitpay and many other.

Earlier in May, the famous Bitcoin critic and billionaire Warren Buffett called Bitcoin a gambling tool that does not produce anything useful.

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   300

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.