Bitcoin is back on track after a 10% increase earlier this week and getting to a high of almost 9,400 USD on Tuesday morning. Ethereum also experienced a significant increase and got to a high of 677 USD, and the trading value of Ripple as at April 24 is 0.915 USD. The cryptocurrency market at large experienced an increase in value this month.
MIT Technology Review
A review titled “Lets Destroy Bitcoin” was released by the MIT Technology Review. In the review, there are three ways in which Bitcoin could come to an end.
Scenario One: The first scenario that was outlined in the review is the involvement of governments. If governments create their own cryptocurrencies, the bitcoin could suffer and pave way to the cryptocurrencies of governments. This move could bring decentralized cryptocurrencies to its end.
Scenario Two: The second scenario is when a social media giant such as Facebook takes over bitcoin. In which users will get cryptocurrency rewards for interacting with ads.
Scenario Three: The third scenario has to do with the “tokenization of everything.” This involves businesses and organizations releasing their own cryptocurrencies for instance “ToyotaCash” or “HPCash.”
Rodrigo Marques Opinion
Yesterday, the CEO of Atlas Quantum (an investment platform) – Rodrigo Marques said that he sees a “momentous come back of a bull market.” He said that the numerous major developments from early March to April have made French and British regulators acknowledge cryptocurrencies as a development.
Mr. Marques also said that the “e-money” license given to Coinbase by the United Kingdom regulators was a “big move.” He also believes that the deflationary characteristics of Bitcoin suggest that the market will flourish and do much better in the long run – while a lot of regulatory clarity and institutional demand from the likes of G20 and Security and Exchange Commission are likely to enhance the crypto market even more.