Volatility is required for Bitcoin growth – Over the past 24 hours, Bitcoin has managed to exceed the $ 13,000 threshold and fluctuates around this value. Its dominance on the crypto market exceeded 65%.
Analysts are optimistic about the next period. ThinkMarkets FX chief analyst Naeem Aslam stressed that volatility is needed to boost Bitcoin.
Aslam claims that the BTC will reach $ 20,000 soon and that it will reach $ 50,000 over the next few years. His rationale is that institutional investors add Bitcoin to their portfolios, ahead of schedule
that the SEC should approve a Bitcoin ETF to open the gates.
Volatility is what many traders attract to the crypto market. Arthur Hayes, CEO of BitMEX, said:
“If you want to avoid volatility, trade S & P 500 shares.”
The European Central Bank argues that Bitcoin is not a coin
The European Central Bank (ECB) reiterated its position on Bitcoin, refusing to recognize it as a currency. The statement was made in a Twitter question and answer session on July 9th.
Lane: No. Bitcoin is not a currency, it is an asset and it is very volatile #AskECB https://t.co/XQ9Mqdm5rU
– European Central Bank (@ecb) July 9, 2019
The bank’s representatives also stated that they did not intend to add BTC to its reserves.
“Bitcoin is not a coin, it is rather a digital asset and it is very volatile.”
Previously, the ECB also stated that it is not interested in issuing its own digital coin.
Poloniex introduces fiat-cripto trading
The Poloniex Exchange has announced that its users will be able to buy criptomonets with currencies.
Through a partnership with Simplex, exchange bills from 80 countries can use their debit and credit cards for bitcoin trading.
“Poloniex customers can now feed their crypto-trading by depositing and withdrawing funds using bank cards and accounts.”
Simplex is the company that offers the same fiat-cripto option and Binance customers.
Klaytn Blockchain, fifteen times faster than Ethereum
South Korea’s Kakao Company claimed that its recently released Klaytn blockchain is up to 15 times faster than Ethereum.
The statement was made at a press conference in Seoul and was reported by Korea Herald.
Apparently, Klaytn generates a block in seconds, while Ethereum requires at least 15 seconds.
As a result of rapid network processing, Kakao claims to offer 300 transactions per second, compared to 20 transactions per second of ETH.
Xiang Jae-sun, CEO of Ground X, the blockhouse of Kakao said:
“I think this will be the initial version of a mobile-based blockchain. With the reduced reaction time, many projects that we consider unimaginable could become reality. “
Ground X announced the release of Klaytn mainnet on June 27, saying the project is aimed at mass adoption of blockchain services.