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Bitcoin [BTC] prices will never go back to $20,000; claims Wall Street titan

Ajay Narayan

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Bitcoin [BTC] prices will never go back to $20,000; claims Wall Street titan
Source: Unsplash

On 8th September, Yahoo Finance’s Dion Rabouin, Rick Newman, Dan Roberts spoke about the current stance taken by financial institutions on cryptocurrency and Bitcoin [BTC] still being viewed with a skeptical eye by the Wall Street titans. They also spoke about Bitcoin’s price surge and the possibility of it reaching those heady days of December 2017 once again.

Dan opined that the Bitcoin prices could rise in the future but it would never go back to $20,000. He stated:

“It is unfair for people to expect it to reach that $20,000 mark, there is strong evidence on how the market had been manipulated by a lot of investors who had huge holdings thus resulting in the prices to increase drastically.”

Dan further explained by pointing out three different fractions in the Bitcoin world. According to him, the first fraction consists of the speculators who buy and hold Bitcoin as an investment. The second fraction includes the people who look at the blockchain powered Bitcoin as an innovative technology for the future and the third fraction are those individuals who look at Bitcoin as a scam but support the blockchain technology. He stated that the biggest rallying cry in the Wall Street finance world was precisely the notion of looking at Bitcoin as a scam.

Rick Newman a Columnist in Yahoo finance was asked about his views on Bitcoin. He stated:

“I am intrested in what this looks like five years from now, I really dont care about how it looks a month from now.”

Rick opined that the blockchain technology was very useful in digitizing industries in the future. Furthermore, many individuals were still trying to apply the blockchain technology to different things going on around the world. Dion spoke about the long-term scenario and how Jordan Belfort, the so-called wolf of wall street had claimed that the cryptocurrency industry was a complete scam.



Dan Replied:

“Thousands of individuals with successful businesses, investments and companies were now completely devoted to cryptocurrency thus making it very important to acknowledge such an industry.”

They stated that it was arguable whether the blockchain industry had developed any mainstream innovations yet. However, Dan opined that the industry was real and had great potential in the future.





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Ajay Narayan is a full-time journalist at AMBCrypto. He has majored in Economics, Political Science and Sociology. His interests are inclined towards writing and investing in cryptocurrencies.

XRP

XRP shorts overtake XRP longs as USD shorts increase 85 percent on April 17

Akash Anand

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XRP shorts overtake XRP longs as USD shorts increase 85 percent on April 17
Source: Pixabay

The cryptocurrency market’s volatile behavior was reflected in the ‘buy-in and sell’ sentiments. Despite the bear market taking over again, analysis of the market shows that there are some silver linings. XRP, the third largest cryptocurrency in the market, has not had a fantastic start to 2019 and this was even shown during the recent bullish spike.

XRP was one of the worst performers among the top 10 club at a time when some of the other currencies saw double-digit gains and Bitcoin [BTC] broke the $5000 barrier. New analysis, though, points to the fact that there has been a significant rise in XRPUSD longs on Bitfinex, some even registering record gains. Reports from BehindtheLedger stated that:



“Some are discussing record high XRPUSD longs on Bitfinex. It’s good to look at the ratio of shorts to longs (or vice versa if you prefer) rather than just the longs though. Doing so reveals that shorts have increased more than longs in the past few days.”

At a time when the XRP shorts are on a high, the USD shorts were up by a massive 85 percent on April 17. The analysis from behindtheledger also admitted:

“This isn’t a price prediction and frankly, this indicator probably isn’t reliable

But it’s always good to look at both sides of the equation.”

XRP’s trade has been majorly influenced by developments in its realm with the last major claim coming from Coincheck as the organization provided over-the-counter trading support for Ethereum and XRP on its platform. The exchange had announced:

“ETH XRP has been added to the target currency for large OTC transactions! We are pleased to announce that ETH and XRP have been newly added as target currencies at the Large OTC Trading Service, which has started on April 1, 2019.”





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