Are Cryptocurrencies A Threat To Fiat Money? What Does the Statement From James Bullard Mean For The Industry

Italian Cryptocurrency Exchange, BitGrail shuts down almost immediately after it re-opened

Cryptocurrency news today – 2019 has seen the rise of bitcoin at an exponential rate. At the beginning of the year, it was under $3,000. By June, it had more than tripled — reaching a close to about $14,000. In the early stages of 2019, it was altcoin that performed strongly in the crypto market during the period dubbed as “altseason”. Altcoin’s performance seems to be on a gradual decrease when compared to other cryptocurrencies ever since Bitcoin started its resurgence on “April Fool’s day rally”. The debate on everyone’s lips is whether the Altcoin market will also feel the price gains observed in Bitcoin during this bullish cycle that is still extant. Some say Bitcoin cycles will continue to increase while Altcoin will suffer a gradual decrease while others say Altcoin will bounce back when Bitcoin begins to experience bullish fatigue.

Cryptocurrency Latest Update – Bitcoin News Today – Cryptocurrencies Are Part Of A Global Currency War

In cryptocurrency latest updates, Chiliz, a digital currency for sports and entertainment are set to provide the office crypto of AS Roma Football Club through socios. The Italian club will join the blockchain-based voting platform for sports. They have partnered with sports and entertainment blockchain firm, Chiliz.

Indian Minister of State for Finance has said that there is no official ban on cryptocurrency, stating there is no law that specifically bans the use of cryptocurrency in the country yet. In the latest cryptocurrency analysis, G7 finance ministers have warned that an upset in the global financial system can occur if the Libra project is not well controlled. The ministers are against the idea of a private company owning their currency without control.

Bitcoin (BTC) Price Today – BTC / USD [ccpw id=”8759″

In the latest crypto news, cryptocurrency has been at the center stage of global politics in recent weeks. This started when Fed Chairman Jerome Powell compared Bitcoin to gold, citing that it is primarily used as a speculative store of value and that the fact that it is not frequently used for transactions has seen its status a currency becomes more and more negligible. Later, the US President gave him opinion on BTC, causing what seems to be a regulatory crackdown on young crypto markets.

The President of St. Louis Federal Reserve, James Bullard, recently noted that cryptos are in fact in competition with Fiat currencies such as the US Dollar. According to him, cryptocurrencies are gradually tending towards having a non-uniform currency in the United States. This statement signifies that cryptocurrencies are competing with Fiat currencies.

Cryptocurrency News Today – Cryptocurrency Price Prediction – Crypto Market Update

When asked about a cryptocurrency price prediction by the end of the year, a group of crypto experts predicted an average of $9,659 for BTC by December 31st. Joseph Raczynski predicts BTC price to be at $17,000 by the end of the year.

Co-founder of crypto asset management firm Morgan Creek, Anthony Pompliano predicts BTC to be at $100,000 by the end of 2021. During a recent interview, he said the basic principle behind his prediction was simple supply-demand economics which still finds validity in today’s digital world.

What does the future hold for cryptocurrencies? Share your thoughts in the comment section below.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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