Bitcoin Price Growth Is Speculation, Bubble Will Burst: MacLeod
Gulden lead developer, Malcolm MacLeod, has stated that the current Bitcoin price rally is not real growth and that eventually it will burst. In an exclusive interview with Cointelegraph, he explained that the price rise is merely from contemplation and not actual network expansion.
"I think we are way up into speculative territory on not only Bitcoin but a bunch of other altcoins, all of which have gone up quite ridiculously."
The developer indicated that there are no real fundamentals to support the price rise and that it’s hard to confirm that Bitcoin is suddenly seeing huge amounts of people using it for day to day business.
MacLeod continued: ... Read More
Crypto Massacre: Why Value of Bitcoin, Ethereum, Ripple, NEM & Others Sharply Fell
On June 15, the cryptocurrency market experienced a major market correction as the value of leading cryptocurrencies including Bitcoin, Ethereum, Ripple, Ethereum Classic and NEM sharply fell.
In total, the cryptocurrency market lost around $16 bln in market cap, moving back down to $95 bln after achieving a historic milestone earlier this week by surpassing the $100 bln mark.
Cryptocurrencies, in general, had a good run and maintained strong momentum over the past few months. Bitcoin, in particular, began to receive extensive media coverage from mainstream media outlets such as the Wall Street Journal and CNBC. Traditional newspapers including the WSJ continuously featured Bitcoin on their front page, comparing Bitcoin price to that of gold and reserve currencies such as ... Read More