Bank of Korea Governor Lee Ju-yeol has expressed skepticism over the recent crypto rally, stating that the bank is progressing with a digital currency project. Amid a major downward correction in the cryptocurrency market, the head of South Korea’s central bank is skeptical about digital currencies like Bitcoin (BTC). Bank of Korea Governor Lee Ju-yeol…
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Economist Frances Coppola and senior commodity strategist at Bloomberg Mike MgGlone clash on everything Bitcoin. In a recent video debate, Bitcoin skeptic Frances Coppola debated Bloomberg senior commodity strategist Mike McGlone on the economics of Bitcoin, market manipulation and predictions for 2021. Coppola is skeptical that Bitcoin will ever succeed as a store of value…
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Analysts bashed Bitcoin despite JPMorgan co-president Daniel Pinto claiming that Bitcoin adoption is inevitable at some point. Analysts at American investment bank JPMorgan Chase have delivered another skeptical statement on Bitcoin (BTC), arguing that its current price is much higher than its fair value. In a regular memo for investors, JPMorgan argued that cryptocurrencies like…
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A report from Kraken has identified last month’s BTC volatility at levels not seen since the ‘Black Thursday’ crash of early 2020. With Bitcoin rallying from $30,000 to $42,000 and back again during January, BTC’s annualized volatility rose to levels last seen in April 2020, according to a new report from U.S. crypto exchange Kraken.…
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Larry Fink said he was fascinated with the media hype surrounding Bitcoin but expressed concerns about the crypto asset’s volatility and market size. Just one week after asset manager Blackrock appeared to be preparing to invest in Bitcoin futures, CEO Larry Fink has some mixed messages on crypto. In an interview with Bloomberg on Wednesday,…
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Blockchain proponents claim that agricultural asset-backed tokens would make it easier for farmers in Argentina to attract investment and access liquidity amid a nationwide economic crisis. Argentina’s brittle economy — stricken by endemic problems that have only worsened amid the COVID-19 pandemic — has sparked rising unrest in the country’s agricultural sector. Earlier this month, representatives…
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DeFi exploits are too common for mass adoption. But there are solutions to the oracle problem. It seems like every week we hear news of another DeFi project being hacked or exploited. The latest crop of victims includes such projects as Harvest Finance, Akropolis, Value DeFi, Origin and of course Compound. When exploits do occur,…
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Bitcoin could hit all-time high prices then consolidate like gold, according to the analyst. Bitcoin (BTC) has risen to rarely seen price highs, currently stalling between $17,000 and $18,500 before deciding on its next move. Gold recently broke all-time U.S.-dollar price highs, surpassing $2,000 per ounce before pulling back and consolidating in price. Bloomberg Intelligence…
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Fidelity Digital Assets has published its response to commonplace criticisms of Bitcoin. “Bitcoin has failed as means of payment” is one of the prevalent criticisms of Bitcoin (BTC) that Fidelity Digital Assets is seeking to rebut. In a blog post published on Nov. 13, the firm took on six “persistent” criticisms, including Bitcoin’s volatility, environmental…
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Kraken predicts that Bitcoin will produce a negative performance for September before returning to ‘aggressive volatility’ In its August 2020 volatility report, U.S.-based cryptocurrency exchange Kraken has predicted that September will bring excessively negative returns for Bitcoin (BTC). The report notes that historically, September is Bitcoin’s worst-performing month, with an average return of -7%. It…
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