Bitcoin 'tipping point Citi announces as price rises

Bitcoin 'tipping point Citi announces as price rises Bitcoin surged nearly 7% on Monday as risk assets recovered after the bond course slowed last week, and Citi said the most popular cryptocurrency was "at the tipping point" and could be the currency of choice for international trade. With the adoption of Investment Bank Citi Tesla Inc and MasterCard Inc and others like that, bitcoin could be at the beginning of a "massive transformation" into the mainstream, he said. Meanwhile, Goldman Sachs has announced to Reuters that it will begin trading with bitcoin for customers next week. According to Paolo Ardoini, chief technology officer of the cryptocurrency exchange Bitfinex, "those parallel to the explosion of the crypto bubble in 2017 may not explain the advancement of technology since then." Citi said Bitcoin, which hit a record $ 58,354 in February, will become the currency of choice for international trade in the future, or may experience a "speculative boom". But Citi analysts wrote, "There are risks and hurdles to Bitcoin moving forward." This leads to the conclusion that Bitcoin is at a tipping point "

Bitcoin 'tipping point Citi announces as price rises

  Bitcoin surged nearly 7% on Monday as risk assets recovered after the bond course slowed last week, and Citi said the most popular cryptocurrency was "at the tipping point" and could be the currency of choice for international trade. With the adoption of Investment Bank Citi Tesla Inc and MasterCard Inc and others like that, bitcoin could be at the beginning of a "massive transformation" into the mainstream, he said. Meanwhile, Goldman Sachs has announced to Reuters that it will begin trading with bitcoin for customers next week. According to Paolo Ardoini, chief technology officer of the cryptocurrency exchange Bitfinex, "those parallel to the explosion of the crypto bubble in 2017 may not explain the advancement of technology since then." Citi said Bitcoin, which hit a record $ 58,354 in February, will become the currency of choice for international trade in the future, or may experience a "speculative boom". But Citi analysts wrote, "There are risks and hurdles to Bitcoin moving forward." This leads to the conclusion that Bitcoin is at a tipping point " Citi said that the latest performance of Bitcoin comes with the increased participation of institutional investors, but on the contrary, it is the focus of retail investors and they will see that it is "positioned in the most appropriate way" thanks to its global access, traceability and fast payment convenience as the currency of choice. Changes in the macroeconomic environment could put less pressure on Bitcoin demand. With the latest increase in interest, Bitcoin reached a record high, bringing it to a market value of $ 1 trillion. However, more than $ 11,000 retreated from these levels last week on questions about the sustainability of such high prices. New York Attorney General Letitia James warned investors on Monday "to be extremely careful when investing in virtual currencies."    

Source: Yahoo.Finance

 

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