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Bank of England Governor: “Crypto Assets Are Too Volatile to be a Store of Value

The deputy governor for markets and banking at the Bank of England, Dave Ramsden recently sat down with CNBC for an interview. In the talk, Ramsden said that digital assets like Bitcoin are much too volatile to be a store of value and they don’t meet the principles of currency. In citing the research of the Financial Policy Committee, Ramsden stated that the high volatility and the relatively high costs of crypto transactions settlements don’t make cryptocurrencies as practical as it stands as a currency. Volatility Volatility for emerging asset classes is always going to be an issue for new...

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Sally Ho's Technical Analysis 1 May 2019

Bitcoin Bitcoin (BTC/USD) gained decent ground during today’s Asian session, trading as high as the 5329.80 level after demand surfaced around the 5225.55 area, right around the 38.2% retracement of the move from 5650.01 to 4963.00. Clues emerged early in yesterday’s North American session to suggest the pair would appreciate as Bids emerged at 5187.00 on a pullback, right around the 61.8% retracement of the move from 4901.99 to 5650.01. Some Stops were then elected above the 5251.55 area, then the 100-bar MA (4-hourly) before Bids were seen around the aforementioned 5225 area. Additional Stops were then triggered above the...

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Bitcoin (BTC) Prepares To Rally Towards $5,800 As Price Steadies Above 21 EMA

Bitcoin (BTC) price has finally steadied above the 21 day EMA after almost a week of uncertainty. BTC/USD has started the day in green and the price is likely to keep on rallying from current levels. We have yet to see whether Bitcoin (BTC) can pump in the same manner that it has in the recent past but it is becoming clear that the price will crawl towards the $5,800 level if it fails to run. Most retail bears are already too confident expecting the price of Bitcoin (BTC) to fall sharply from current levels. However, the bulls are unlikely...

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Tom Lee Still Bullish on BTC Despite Bitfinex Scandal

Fundstrat’s Tom Lee is well known for his EXTREMELY bullish attitude towards the crypto space and specifically, Bitcoin. In a recent interview, he explained why he is still bullish on cryptocurrencies despite the challenging previous year and predicted what we could expect from Bitcoin and other cryptocurrencies in 2020. So even though last week saw cryptocurrencies starting losing their value following the surfaced news about Tether and Bitfinex, Lee is absolutely sure that it is just a temporary situation. Instead, he believes that the bullish trends will soon gain the upper hand. Lee explained: “Last year was a terrible year...

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Crypto Cars: Is the Future Here at Last?

For the most part, a lot of us are able to drive a car. It gives you the freedom to go to the movies, shops, parks and so on. If you’re lucky enough to own a Jaguar, it looks like you might be able to earn some Bitcoin by doing just a few of these things. Jaguar & IOTA The company also owns Land Rover (Jaguar Land Rover), so this means that both models of cars will be subject to, what is being dubbed as a smart wallet. The capabilities will allow drivers to be rewarded with the new IOTA...

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