Did the era of the Dogecoin, the most famous cryptocurrency, come to its end, or it is just a calm before the storm? Let’s find out!
Cameron Winklevoss: bitcoin will jump 40 times in value
Sooner or later bitcoin’s value will leap up to 40 times. That’s what Cameron Winklevoss, one of the legendary twins ascertained on Wednesday,
CoinDesk states that bitcoin’s capitalization currently accounts for about $135 billion. Cameron made this intriguing statement having compared this popular crypto asset with gold at the MENA Summit held by the Milken Institute.
Winklevoss told that folks are used to taking for granted that bitcoin is totally disruptive for gold. Of course, crypto enthusiasts are assured that it’s much better that such an old-school asset as gold. However, gold owes its long-lasting status to scarcity. In this regard, bitcoin is fungible, portable and as a result more robust as an asset. So, to some extent we can say that bitcoin happens to be a modified gold of a digital nature, Winklevoss revealed to CNBC.
Previously, in 2008 the twins participated in a dispute with Facebook father Mark Zuckerberg. They clashed over the assumption that Mark dared to thieve their concept of the social network. Today the brothers jumped with both feet into the tempting world of crypto assets and even managed to become the first bitcoin nouveau riches.
In terms of value the cryptocurrency has undergone a crazy ride for the last few days. For this short period of time many reputable personalities gave out bitter words of criticism as for bitcoin, labeling it as ‘fraud,’ as Jamie Dimon from JP Morgan did, for example. Warren Buffett also didn’t see a good ending for the crypto asset, while Goldman Sachs doesn’t doubt that it’s going hit the bottom in the nearest future.
The other twin illustrated a world, where driverless vehicles might pay other vehicles, or many gadgets will be capable of conducting micro-payments. That’s the case where crypto assets could be extremely useful.
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Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.