Bitcoin News

Story: Bitcoin is Already a Part of the Financial Infrastructure – Regulators Should Catch Up

By Steven Anderson

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The cryptocurrency market has calmed down, and the predictions for the price of the Bitcoin is turning positive.

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The price of the Bitcoin shifted by less than 1%; the fine margins lead to a quiet day of trading.

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Despite the recent crash, several experts opine that Bitcoin is all set to track the upward trajectory.  Before the end of this year, the prices would go even high.

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Simon Peters, an analyst at eToro opined that the recent price dip is due to the batch of Bitcoin Futures Contracts which were all set to expire.

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Simon Peters reported to the Independent recently that the “Chicago Mercantile Exchange Bitcoin futures contracts are set to expire tomorrow, which historically has prompted…

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The scenario might be that the investors are selling off now to insulate themselves from more significant losses in the forthcoming days.

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Several prominent personalities in the cryptocurrency community are sticking on to their predictions.

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John McAfee, in his official tweet, stated, "Bitcoin under $9,500. If you are panicking, you are a fool.”

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Bitcoin has failed to revolutionize the financial system of the world, but it is too early to call the cryptocurrency revolution as dead.

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"The crypto revolution is going to happen"— though it will need time to get off the ground.

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The crazy bull market of 2017 got the unrealistic expectations of people predicting when the crypto revolution will happen.

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"You gotta give them some more runway before we give them the thumbs up or thumbs down."

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Novogratz has to warn that it could be five years before Bitcoin and the cryptocurrencies might impact the lives of people.

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"I think [the next Bitcoin bull run will happen] when institutions start coming in,” Novogratz further added, but promised, "they're slowly and steadily moving in."

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The Bitcoin is not a backwater experiment anymore; instead, it is a part of the financial infrastructure, and it is time for the regulators to catch up.

The Currency Analytics

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