Bart Smith: the abolition of the ETF of the Winklevoss brothers did not affect Bitcoin
Source:
And although the recent rollback of Bitcoin could scare off many investors, most experts in the industry keeps talking about a new bullish trend. Recently «cryptococal with wall street» Bart Smith said in an interview with CNBC, why cancel ETF the Winklevoss brothers did on the fundamental strengths of Bitcoin. About it writes .
theBitcoin may not fall below
Head of digital asset management Susquehanna Bart Smith does not see the recent fall of Bitcoin serious power sellers. According to him, cryptocurrency has a very «strong» support at 6800 dollars.
Smith said that if Bitcoin is well entrenched above 6800 dollars, the chances of its subsequent decline will be very low. It is noteworthy that at this level now looks a lot of traders. From the point of view of Smith's expert concurred Fundstrat Robert Clamer.
However, while the main cryptocurrency gradually approaching 7,000 dollars. In the last 24 hours the Bitcoin has lost more than three percent of its value. The worse is Aldona — total capitalization of the stock market except Bitcoin goes to its annual minimum.
ETF the Winklevoss brothers expert Susquehanna does not consider the negative sign for Bitcoin. As stated by Smith, the cryptocurrency was able to hold a key support level even on the background of negative news. This is a good sign.
Another hope for the bulls could be the first retirement cription or company for digital assets. At least 1 percent of the assets of large investors invested in these projects will increase the correlation of Bitcoin with traditional markets. So it will become more attractive to institutional investors.
Smith gave a proof of his argument on the example of Square stock that have high volatility. If the investor will take 66 percent of their portfolio to shares and 33 percent to Bitcoin, he'd face the same risk in both assets.
Institutional investors need to stop thinking about Bitcoin as a terrible thing that must be tightly regulated. We also want the presence of financial regulators, but it should not be too Intrusive.
Earlier, another very influential investor and co-founder of Galaxy Digital Mike Novogratz that the capitalization of the stock market will reach 20 trillion dollars. Well, fingers crossed and hope.
Recommended
the long-awaited summer. Niche cryptocurrency supported the event and gave unusually hot week. During the last seven days, we learned about the new line of graphics cards from AMD, the mining in TON and hard forks . In addition dealt with the profita...
Co-owner Bitcoin.org Coinbase Pro ridiculed and called a stock exchange Scam
co-Owner Bitcoin.org and most popular forum about cryptocurrency Bitcointalk.org Cobra called Coinbase Scam Pro trading platform American crypto currency exchange Coinbase. In his tweet he wrote «if you read Coinbase Pro backwards, get the word ...
The Ethereum is a cryptocurrency Scam. A new report Chainalysis
When people learned how to create a new cryptocurrency and began to build their infrastructure like marketplaces, in the field began to appear and fraud. According to blockchain auditor Chainalysis for the past two years, fraud in the ecosystem has s...
Related News
VEB and the Grozny mayor's office transferred the housing sector on the blockchain
In February, the first Deputy Chairman of VTB Olga Dergunova positively the prospects of the blockchain. According to her, the technology will improve the speed of transactions and security standards. To move from words to action ...
Hacker 1337. How to hack Etherscan not to cause any harm
Monday on the website Etherscan.io appeared a pop-up message with the numbers 1337. The visitors began to panic and spread rumors about hacking Explorer. really hacked, but the damage from a hacker attack was zero. About it writes...
Brian Kelly: reducing the cost of Bitcoin — a short-term correction
In may, investor and co-founder of hedge Fund BKCM Brian Kelly in the short term will rise to 14 thousand dollars. The reason for growth will be the production of products to trade coins major investment banks by type Goldman Sach...
Willy Wu: Bitcoin is waiting for another drop before ballroom
the Analyst with a great experience in may predicted that Bitcoin would have to drop below $ 6,000, because only then we can talk about any signs of a new uptrend. At this time, Wu once again talking about another sharp drop of th...
What is the secret of popularity of Litecoin? Expert opinion
Chief analyst, Mati Greenspan eToro has recently published an exhaustive analysis of Litecoin. The expert came to the conclusion that the coin can be considered a full-fledged money due to the revolutionary agreements previously e...
Many officials and banks argue that cryptocurrency is only used to pay for assassinations, drug trafficking, and money laundering. However, that's not entirely true — for example, in January, the ICF Church in Zurich, Switzerland ...
Arthur Hayes: ETF for the cryptocurrency will be sent the Bitcoin price into the stratosphere
Despite the claims of the Winklevoss brothers, cryptocommunist is still pending the establishment of the first cryptocurrency ETF. In a recent interview, BitMEX CEO Arthur Hayes told what value to new industries has stock cription...
As banking regulation, KYC / AML inhibits the development of Scripturally
In April the co-founder of the consulting company Crypto Investment Orchal Partners Adrian Lai that the introduction of regulation of digital money stimulates the industry to develop. Contrary to popular belief that the cause of t...
How to start a mine in an adult. Example Blockstream
the Company has recently acquired a large lot of equipment for mining with a total value of $ 5.2 million. Overall, Hasrat new Asimov Blockstream can reach 80 PH/s, while the whole of Hasrat Bitcoin at the moment is 50 000 PH/s. A...
At Coinmarketcap there is a paid API. Why and who needs it?
launch a paid API, the company said in its publication on 1 August. A new product aimed at Coinmarketcap third-party resources that can obtain accurate price data, capitalisation and trading volume of coins at different cryptomeri...
ICO is canceled? In Telegram service, Passport found a critical vulnerability
last week, the Telegram messenger has presented the Passport service to store users ' personal data. One of them including includes the passports and other documents, which may require banks and other institutions. The company pro...
Proud: the number of mining companies in Russia grew 15 percent year over year
In January, private investors for the first time in Russia, two plants for mining. It was about Kizelovskaya GRES in the Perm region of the 23.6 MW CHP and Sarapul in Udmurtia 10 MW. because Of relatively inexpensive electricity, ...
How to protect your wallets from hacking: six non-obvious ways
a study by the American company Foley & Lardner showed that 71 percent of large traders and captainvalor considers hacking attacks and fraud are the most serious factor that has a negative impact on the market. Respondents no...
Analyst at PwC in the future will survive only real digital currency. Such as Bitcoin
early In the week, one of the most famous investors on wall street, 67-year-old bill Miller that Bitcoin is the most promising coin and altcoins are of no use. According to him, in the future will survive only the first cryptocurr...
Thailand will use the blockchain for the sake of prosperity and a brighter future. What's the plan?
According to the report , the Association of Thai bond market intends to reduce the time for issue of certificates for bonds at least twice. The main objective is to support the secondary market. To help can the blockchain. the In...
The South Korean company "found" the Russian cruiser gold. She was accused of fraud
In July, the South Korean company Shinil Group announced that it had found the Russian cruiser "Dmitry Donskoy", which sank during the Russo-Japanese war. On Board the ship is supposed to be a gold 133 billion dollars — it is twic...
Russian miner owed 48 thousand rubles for electricity. Nothing will
news Agency reports: «the owner of cryptotermes in Cherepovets owed energy of 48 thousand rubles». Information from «news Agency» not much, but its enough for our wildest speculation. We know that the need for ...
Paul Krugman: the cryptocurrency will throw the financial system for 300 years ago
again criticize winners of the Nobel prize. One of the most famous economists of our time, Paul Krugman gave an interview to The New York Times, which stated that the main bitcoin will never replace money. About it writes . the W...
Buys startup Binance Trust Wallet. What does it mean?
the Binance announced the successful purchase of a startup California Trust Wallet. Previously the platform team has worked to develop secure crypto and decentralized browser applications. About it writes . the New successes Binan...
And you, Brutus: most kryptomere hopes to regulate cryptocurrency
According to the survey of the Lithuanian payment company Mistertango, 88 percent of all kryptomere want regulation of the industry. The study is based on a survey of 24 exchange, whose daily trading volume exceeds $ 100 million. ...
Comments (0)
This article has no comment, be the first!