CoinDesk Director of Research Says Bitcoin Is Likely the Strongest Cryptocurrency in the Industry

bitcoin price chart

The value of Bitcoin has started recovering, hitting a forty-day high at the beginning of this week. Nolan Bauerle – CoinDesk Director of Research said that Bitcoin will remain strong in the market despite the series of slumps the currency is facing.

Bitcoin’s Depreciation
Bitcoin has had a very tough winter after officials and banks were under serious pressure to regulate digital currencies, which resulted in the downfall of bitcoin’s value form $20,000 to $9,000. The cryptocurrency has been criticized by many finance experts. Even Morgan Stanley (a Banking giant) likened the present climate of the cryptocurrency’s market to the dot-com bubble that rose by 250 – 280% during its period.

Why Nolan Bauerle Believes in Bitcoin
Mr. Bauerle said: “Despite the sudden, severe changes in the price of bitcoin and its regulatory crackdown, the cryptocurrency is likely to maintain a significant position in the world of digital currencies. He said, since the beginning of digital currencies, Bitcoin has been the alpha and omega. Bauerle said bitcoin is what gave birth to other crypto ideas out there, and it will continue to be the world’s longest-running, most secure, and strongest blockchain and this will likely not change.

SEE ALSO:   Ethereum is better than Bitcoin in 2018: ConsenSys, Enterprise Ethereum Alliance, ICO ’s and smart contracts (Ethereum Price Forecast)-Fri Jun 22

The Value of Bitcoin
Bitcoin was trading at $9,325 as of April 27. The digital currency saw its maximum peak late last year when it got to an all-time high of $20,000. According to a recent poll, bitcoin is gradually moving away from its negative reputation of being a center of attraction for criminals.

The Cryptocurrency Still Gets Negative Comments
The change of perception has not really stopped experts from speaking negative things about the digital currency. John Williams – the Head of Federal Reserve bank of San Francisco said that bitcoin has “a lot of issues.” Williams said that the institutional arrangements or setup around bitcoin, as well as other digital currencies, have issues with fraud, money laundering, and terror financing

SEE ALSO:   Ethereum (ETH) Price Analysis: The Ethereum (ETH) to USD Pair Finds Support at $525 and May Keep Trading Higher (Ethereum News Today June 22)
loading...

Legal Disclaimer: The content of this website (smartereum.com) is intended to convey general information only. This website does not provide legal, investment, tax, etc advice. You should not treat any information on smartereum.com as a call to make any particular decision regarding cryptocurrency usage, legal matters, investments, taxes, cryptocurrency mining, exchange usage, wallet usage, initial coin offerings (ICO), etc. We strongly suggest seeking advice from your own financial, investment, tax, or legal adviser. Neither smartereum.com nor its parent companies accept responsibility for any loss, damage, or inconvenience caused as a result of reliance on information published on, or linked to, from smartereum.com.

SEE ALSO:   Ethereum's Co-founder, Vitalik Buterin, Says the ETH Network Has Some Exciting Upgrades Coming Up (ETH News Today)

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Get Smart About Crypto!


Promise we won’t spam you!

We Are Hiring

Click here if you would like to join one of the fastest growing blockchain news companies in the world!