Sure lots of negative news has hit the press this month and has sent Bitcoin stumbling downwards in the process. Things like the hacking of exchanges and whale belly flips i.e. sending 8000BTC to exchanges and what not never bodes well for confidence. These things without a doubt had a major effect on the recent downwards spiral of BTC when paired to its arch rival, the US Dollar.
The fact still remains that big players are getting in the game, there are many ongoing developments and although we may not know when these players will strike, it seems obvious that they will at some point and as such we must stay ever more vigilent!
Christian Ferri, President and CEO of BlockStar, had this to say about recent events:
"As in every technology, hacking will be painful for some in the short term; but it will be a major driver in strengthening the crypto ecosystem, making it more secure, which is key for mass adoption."
That is fine and all because the fact still remains, giant financial actors, including exchanges and big banks, are investing heavily and hiring talent to build Bitcoin trading capabilities.
NASDAQ is planning to launch a futures market for cryptocurrencies. In fact, the stock exchange has already joined forces with Gemini, a digital asset exchange, to improve market surveillance to detect market manipulation and fraudulent trades. Additionally, a NASDAQ-powered cryptocurrency exchange platform – DX.Exchange – will be launched sometime this month.
This stuff doesn't just happen by accident. Big players have the power to bring the BTC price down and hold it there... It is a waiting game. OTC deals are happening daily and wouldn't you rather buy a large quantity of BTC for 6500$ as opposed to $20k?
Manipulation is going to be constant in this market until it reaches critical mass. At that point manipulation will still be a factor but the cryptospace in general will be all the more difficult to manipulate!
I've said it before and I'll say it again. Crypto is here to stay. Embrace it or miss out on the chance to invest in Internet 3.0!
What are your thoughts on the matter? Any clouds with silver lining you'd like to bring up in the comments section below?
Thanks for reading!
Source:
Factors That Will Push Bitcoin’s Price Higher Are Gathering Steam - Bitcoinist
Image Source:
Bitcoinist
Crypto is here to stay as you said.
The recent fud might be a plan by the big guys to bring the price down so that they buy!
The weak newbies are now panicking and selling.There has been a lot of ground work being laid and am sure the price might shoot to even 25k.
The number of exchanges coming up in the different countries,the fiat to crypto pairs and wall street interest in crypto....all this will blow the price soon.
A strong foundation is being built for crypto to thrive in .This last 6 months has been for building concrete foundation!
The whale's manipulation of the price of Bitcoin is normal and logical, but the question now is. : How can stop or minimize this? I think the best way is to separate Bitcoin from the rest of the coins
Please do not sell any part of your bitcoin.This message to people who live in all over the world.If it goes down from here buy more but don't sell. Most demanding asset of the future.
Hacking is a problem.
This year, hackers have already stolen $ 1 000 000 000.
I have an interesting suggestion for "hackers".
Click to view
Crypto is here to stay as you said.
Very little money in yet....
When more comes in, there are still 17 million of bitcoin...
The only thing that can stop the price go up big time in the long run is a mayor bug and that code has been testing for years!!!
Bitcoin and crypto in general will succeed. Just buy and wait.