I Have No Idea Where the Cryptocurrency Is Heading to

dan saada By dan saada July 23, 2019 Off
altcoins

The U.S. is currently all ready to crackdown and hurt the Bitcoin.  While regulators are increasing their enforcement, investors are kept wondering as to whether the crypto sector will move any further.

Mnuchin stated:  “The rules governing money service providers apply to physical and electronic transactions alike. As money service businesses, cryptocurrency money transmitters are subject to compliance examinations, just like every other U.S. bank. To be clear, FINCEN will hold any entity that transacts in bitcoin, Libra, or any other cryptocurrency to its highest standards.”

Where is the Bitcoin heading to? Different CEO’s have expressed their views. 

Sallie Krawcheck, CEO of Ellevest, stated, “I have no idea. Anyone else think they know?”

With opinions different between CEOs about the future of Bitcoin, it is now clearly seen that the Bitcoin leads.  The market capitalization and dominance of the Bitcoin continue to influence the other Altcoins.

Jeremy Allaire, CEO of Circle, stated: “The role of Bitcoin is growing as a non-sovereign digital store of value that is private and un-censorable.”

There is always a risk when trading happens.  When compared to other kinds of investment like stocks and Forex, the cryptocurrency space is unregulated.  This is the reason why the government and the regulators are keen about inserting proper regulation.

Jay Clayton, from the SEC, has to state that there are insufficient monitoring tools which are critical to level the cryptocurrency space.  There are market-specific risks to cryptocurrency.  There are external factors like security and liquidity of the cryptocurrency exchange, which can be a problem.  These factors regardless of the style of trading a trader might follow, will contribute to the differences in profitability.

Security-related to cryptocurrency investment has been the central point of concern among those who are prospecting to invest in these tokens.  Security is also a matter of concern to critics who continues to blast the vulnerabilities related to cryptocurrency.

The volatility for Bitcoin is currently muted; however, this is due for a pop. Considering the drop in volume and liquidity, investors are expecting to see a bumpy ride.

In a recent survey, It has been seen that Bitcoin and the crypto assets fared worse than the stocks or the real estate. Only 4% of them in a study expressed their preference to invest in Bitcoin and crypto assets as an emerging asset class.

Greg McBride talked about the interest of the millennial about investing in real estate stating, “Millennials are higher on real estate than any other age group, have cooled a bit on cash, and still aren’t keen on the stock market when investing for more than ten years.”

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