“Shock Bitcoin claim from NYPost!”
Bitcoin claim from NYPost writer Charles Gasparino. Details are in our news.
Shock Bitcoin claim from NYPost
Almost all of Wall Street’s C-suite executives say they have invested in cryptocurrencies in some way. However, there is one more thing they say that concerns the cryptocurrency market more.. That, too, is that the market could collapse.
New York Post’s Charles Gasparino notes that top Wall Street executives with whom he spoke recently said the current price drops could be the start of the crypto market’s collapse.
JPMorgan Chase’s Jamie Bankers like Dimon were initially distant to the blockchain technology used to verify cryptocurrencies and transactions.. Bitcoin, which became popular over time, exploded due to the epidemic and saw $ 65,000 this year. After both speculation and encouraging statements, there was no obstacle for him to see $100,000. ‘s new tax regulation proposal caused a rapid decline in the cryptocurrency market and Bitcoin fell to $ 49,000.
See: Bitcoin, Bitcoin news and breaking news
However, as everyone knows, the bubble the eruption did not proceed quickly. Cryptocurrencies entered a recovery period. Bitcoin is instantly trading at $ 53,029. Cryptocurrencies such as Bitcoin and Ethereum continue to be used more and more each day.. With Bitcoin, you can now buy a Tesla and investors prefer Bitcoin to gold as an inflation hedge.. Moreover, distrust of traditional banking is still high among investors.
Many investors believe Washington could be the trigger for the crypto crash, according to Gasparino. The government allowed crypto to grow unregulated, which helped create enthusiasm around its pricing. A possible regulatory burden will eliminate at least some of the pricing. It’s unclear exactly what Yellen and SEC Chair Gary Gensler had in mind to rein in the market.
It is stated that Yellen and Gensler may be seeking to introduce rules that could create entry barriers that could slow or prevent the more widespread use of cryptocurrencies.. There’s also talk that the government may ban crypto entirely out of fear that it will become a legitimate alternative currency to the dollar.
But these are pure claims, with many Wall Street executives saying it’s nearly impossible to ban something that many people still love. “The horse has left the barn,” as one prominent hedge-fund crypto investor put it.
SEC Commissioner Hester Peirce, known as the “Crypto Mother,” recently told Fox Business: It’s really hard to ban something.”
When all these are considered together, it is commented that on Wall Street, on the one hand, crypto money is coming to an end, and on the other hand, technology is reborn due to the increasing distrust in the current banking system.. Time will tell who will be right.
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