Where Are Bitcoin and Ethereum Heading?

  Where Are Bitcoin and Ethereum Heading? On Friday morning, the crypto market dropped nearly 4% after seeing Bitcoin (BTC-USD) and Ethereum (ETH-USD) sales. Bitcoin has been on a downward trend since then, despite surging to the resistance area of ​​$41,330 on June 15.

After the possible scenarios presented by the FED for 2023, is an anxious process starting for cryptos considered risky?

The World Bank has announced that it will not assist El Salvador's plans due to the environmental impact and transparency disadvantages of Bitcoin mining. This statement came as the UK Financial Conduct Authority (FCA) reiterated its warning, “If people invest in cryptocurrencies, they have to be prepared to lose all their money!” Despite this, the FCA revealed that more than half of crypto users have had a positive experience so far, with the probability of buying more crypto going from 41 % to 53 %, as well as increased enthusiasm for crypto assets.

Where Are Bitcoin and Ethereum Heading?

What is bitcoin?

It is no longer a secret that crypto-assets are not covered by the Financial Services Compensation Program in the unlikely event that something goes wrong, regardless of regulation to any extent. Cryptos have recently found strength from institutional support. Many large organizations such as PayPal (PYPL) and Goldman Sachs (GS) have invested billions of dollars in cryptocurrencies and have begun to manage the asset on behalf of their clients. “Bitcoin has become a staple in some of the most diverse portfolios in the world,” said Paolo Ardoino, Bitfinex CTO. However, according to a survey of Bank of America fund managers, 81 % of these managers still think Bitcoin is a bubble. Where Are Bitcoin and Ethereum Heading?  

Kaynak: Yahoo.Finance

 

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