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The cryptocurrency industry, which has gained immense popularity all over the world, has been a source of profit for some, while it has caused a great loss for
The cryptocurrency industry, which has gained immense popularity all over the world, has been a source of profit for some, while it has caused a great loss for others. While this industry, which is extremely dangerous and bumpy, has recently suffered from the collapse of the FTX stock market, today of the European Central Bank An important announcement came.
The European Central Bank used disturbing statements about Bitcoin in the article it published on its official blog. Central Bank of Bitcoin it’s just speculation mention; cryptocurrency value will fall further suggested.
“The value of Bitcoin peaked at $69,000 in November 2021 and fell to $17,000 in mid-June 2022. Since then, the value has hovered around $20,000 USD. For Bitcoin proponents, the apparent stabilization means a delay on the way to new highs.
On the other hand, more likely, before the road is out of place is an artificially stimulated last breath – and this was predictable even before FTX went bankrupt and Bitcoin price drifted well below $16,000.”
“In the mid-2010s, hopes that Bitcoin’s value would inevitably rise to new heights began to dominate the narrative. However, Bitcoin is also not suitable as an investment. It does not generate cash flows (such as real estate) or dividends (such as stocks), cannot be used productively (such as commodities), or generate social benefits (such as gold). So the market cap of Bitcoin is pure speculation.”
“Because Bitcoin does not seem suitable as a payment system or as a form of investment, it should not be treated legally and therefore not justified. Likewise, the financial industry should be wary of the long-term harm of boosting Bitcoin investment, despite the short-term profits they can make. The negative impact on customer relationships and reputational damage across the industry could be huge after Bitcoin investors suffer further losses.”
Source: Web Tekno
Alice Smith is a seasoned journalist and writer for Div Bracket. She has a keen sense of what’s important and is always on top of the latest trends. Alice provides in-depth coverage of the most talked-about news stories, delivering insightful and thought-provoking articles that keep her readers informed and engaged.
