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Bitcoin [BTC] regulators can roll out the red carpet or the red tape, says CryptoOracle official

Akash Anand

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Bitcoin [BTC] regulators can roll out the red carpet or the red tape, says CryptoOracle official
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Bitcoin [BTC]’s performance on the charts has been tumultuous, with the cryptocurrency breaking not just the $6000 barrier but also the $5000 barrier. Lou Kerner, an official at CryptoOracle, has made sure that the cryptocurrency community knows about the market scenario and where it can lead.

Kerner touched upon how Bitcoin has change trajectory multiple times before and the atmosphere right now was something he had seen before. To a question posed about the death of the cryptocurrency market, he added that the ICO part of the spectrum has been on a decline since the beginning of 2018.

Kerner also claimed that the investment in utility will drive the cryptocurrency market forward and made a comparison with the frequent flyer program on airlines.

The CryptoOracle official pointed to the multiple regulatory decisions put forth about Bitcoin and cryptocurrencies in general. In his words:



“The regulatory authorities need to decide whether they are going to roll out the red tape or the red carpet for cryptocurrencies. Take the example of China and Google. Being banned in China has not stopped Google from becoming a technological superpower. It would obviously be bigger if the regulations were lifted.”

Lou Kerner also commented on the future of Bitcoin, assuring users that the cryptocurrency will only progress from here on out. He went on to mention that Amara’s law applies to Bitcoin. Amara’s law states that:

“The impact of a technological change is overestimated in the short run and underestimated in the long run.”

Furthermore, he had drawn the comparison between Bitcoin’s rise and fall and Bitcoin. He had said:

“Commodities such as cryptocurrencies will reach highs and lows. For example, Amazon had fallen by a massive 95% and look where they are right now. Prices will fall, it is only the long run benefits that we need to keep a lookout for.”





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Engineering graduate,crypto head and Arsenal fan. Is fascinated by technology and all its marvels. Strictly against pineapple on pizza.

Bitcoin

Bitcoin [BTC] is still going to $100,000, claims Heisenberg Capital’s Max Keiser

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'Bitcoin is still going to $100,000', says Max Keiser
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CNBC’s Crypto Trader Ran NeuNer, spoke to Max Keiser, Co-founder of Heisenberg Capital on the sidelines of the Magical Crypto Conference and discussed Bitcoin’s current trends.

Keiser said that he was bullish on Bitcoin in the long term, adding that he would be sticking by his “$100,000” prediction for Bitcoin. He stated,

“I never stopped make price prediction… I said it [Bitcoin] was going to a hundred thousand dollars and it was only a dollar and I said that all publicly… it is still going to a hundred thousand dollars”

He added that the timing of when Bitcoin would reach the mark was not important, but that it would outperform every other asset over the next 15 years. Additionally, he said that timing was only for people who were waiting to buy crypto at a better price and “that is a bad way to approach crypto.”

Keiser displayed his enthusiasm for crypto, commenting that, “Stack Satoshis… Stack SATs… you should be stacking SATs.” Giving his opinion on Bitcoin’s recent rally, Keiser said,



“I think that it goes back to when Federal Reserve issued a statement saying that they’re moving the policy to permanent quantitative easing… which means money printing without end. As you know Bitcoin is hard money, like gold, and it is going to respond well to hyperinflation and hyper-money printing.”

Further, Keiser claimed that Bitcoin bottomed when the Federal Reserve announced this a few weeks ago and that this was due to a couple of reasons. The first being Bitcoin’s upcoming halving which highlights the scarcity of Bitcoin. According to Keiser, the second reason was that the sellers were exhausted. All the above reasons, in totality, contributed to Bitcoin’s price rise, claimed Keiser.

Since Bitcoin has already proven itself as a store of value, Keiser remarked that it would be best to concentrate on Lightning Network, a layer-two scalability solution for Bitcoin and improve it as a medium of exchange.





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