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Why bitcoin will not fall below zero

FXcoins - Why bitcoin will not fall below zero

Jim Rogers one of the most popular investors in the world, from the opinion which affects the mood of a good half the traders. Recently Rogers has compared the bitcoin c gambling game and predicted its disappearance because of the force of displacement of the authorities, due to the fact that the currency is beyond their control.


Jim Rogers is the former partner of George Soros, who openly declares that the cost of bitcoin at one point reaches zero. Please note that similar statements were made before bitcoin reached its historical maximum of 20 000 USD in November 2017. It was then that Rogers indicated that the first digital currency is a bubble, noting that “those who use cryptocurrencies to believe that they are smarter than governments. So. But they have something that no one cryptocurrency. Weapons. Without armed influence of cryptocurrency has no future.”


Rogers strongly doubt that the intrinsic value of cryptocurrency is unstable and this is why he considers them to gambling, not investment, stating that - “a few years ago they did not exist, but in the blink of an eye to be 100 and 1000 times more expensive. This is obviously a bubble.”


In the comments of the investor there are many contradictions, as one of the beliefs of the trader is that over time the money will be fully converted into digital form, after which Rogers draws an analogy with China is “all calculations are conducted using electronic money in the smartphone. This is the usual course of things. But it is important to understand that they are under the control of the authorities. Those that are out of their control, will not be accepted as money.”


In may 2018, former US presidential Advisor for national security John Bolton in his memoirs wrote that Donald trump expressed his opposition to bitcoin, which significantly affected the price of the first cryptocurrencies.


It is worth noting that on Tuesday, June 23, the price of bitcoin is increasing. 10:46 GMT the first cryptocurrency is trading at USD 9408,22 showing growth of +0,38%. At the same time starts to go up Ether, which is trading at USD 234,08 and shows growth to +1.25 percent. XRP increased by 0.05% to USD 0,187.


Analysts at FxPro indicate - over the last week bitcoin was slightly off course 9500 USD. At the beginning of new working week, the situation has not changed, bitcoin per day is almost unchanged in price and is trading above 9400 USD. Trading volumes remain stable at about 16 billion dollars. Index of greed and fear also unchanged from last week in the field “fear”. The RSI remains in neutral territory waiting for new triggers. It seems that investors at the time of postponed decisions in relation to cryptocurrencies. Too much uncertainty around the situation in the traditional financial market, which, though not is large-scale collapse, however, is hardly the basis for further growth. 10 000 USD become a very serious resistance level for bitcoin. In cryptosuite increasingly hear the view that this price level may at this stage be as large as possible, whereas multiple failed attempts to overcome it will inevitably bring the sale”.

23 June 2020

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