Bitcoin will not hold at the $30,000 level, and new BIS research confirms regulators’ interest in cryptocurrencies

Opinion: Bitcoin will not hold at the $30,000 level

Scott Minerd, chief investment officer of Guggenheim Partners, is confident that the price of the main cryptocurrency will be dropping. In a comment to Bloomberg, he said that he doubted BTC’s ability to hold on to the $30,000 mark.

“Right now, the reality of the institutional demand that would support a US$35’000 price or even a US$30’000 price is just not there. I don’t think the investor base is big enough and deep enough right now to support this kind of valuation, ” Minerd said.

In his opinion, BTC will remain a viable asset in the long term, but in the near future, the pressure on the price of bitcoin may increase.

Developing country regulators to issue government stablecoins in the coming time

According to BIS (Bank for International Settlements) analysts, regulators from different countries are actively exploring the question of issuing government tokens. Their mass launch will be in developing countries, analysts say.

In the third annual BIS survey, in which 65 central banks participated, 86% of those surveyed said they were considering the pros and cons of issuing their own cryptocurrencies. In 2020, this figure was 80%. About 60% of regulators are already experimenting with government digital currencies.

“This research is evidenced by the launch of the first real government cryptocurrency in the Bahamas. Others are likely to join this pioneer. Central banks, which together represent a fifth of the world’s population, are likely to issue general-purpose government cryptocurrencies in the next three years,” the report said.

8,000 BTC, which were mined about 10 years ago, belong to Coinbase

Eight batches of 1,000 BTC each, which have been in motion for the first time since 2010, are owned by Coinbase or related companies. This version was published by the Goldfoundinshit Telegram channel.

“Yesterday the next, eighth batch of 1,000 BTC, moved, which lay on the wallets broken by 50, has not moved since 2010. I have previously suggested that these bitcoins belong to Coinbase. Now I am absolutely sure of this, ” wrote the author of the channel.

According to the results of the on-chain analysis, as before, 1,000 bitcoins were accumulated in tranches of 50 BTC at separate addresses from 20 wallets.

“As you can see, first there is a consolidation of 20 wallets of 50 per address — 1,000 BTC then, this 1,000 is scattered in batches of 10 BTC into original ones, let’s call them“ pockets ”for withdrawal. The same thing happened during the movement of the previous parties. Sometimes one or two transactions with large amounts of BTC went from a wallet with 1,000 BTC, apparently for some VIP users, ” the author noted.

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