New Analyses Sound Increasingly Desperate: FUD cryptocurrency

The media showed that Bitcoin’s detractors are running out of ways to FUD cryptocurrency as there are two new warnings from a banker and mainstream.

The JPMorgan’s senior reinforced their position calling Bitcoin both a “fraud” and “like air miles”. However, their voices disappeared and major global corporations become broadly more bullish on its future.

Speaking at a Swiss Finance Institute conference, Axel Weber UBS bank chairman says he remained “skeptical” on crypto.

He said,

“I get often ask why I’m so skeptical about Bitcoin, it probably comes from my background as a central banker”.

The lack of thought in pseudo-criticism of non-fiat currencies was apparently in a piece by India’s Economic Times Wednesday. Since, it detailed “7 reasons to stay away from cryptocurrencies like Bitcoin”.

Also Read: Smart Contract on Bitcoin could to go live this year: Master plan

Inappropriately, with the fact of seven reason wherein only four with the publication repeating the fact that Bitcoin is not assist by central government three times.

The first and foremost reason states,

“Cryptocurrency is a disperse paperless currency, not regulates by government or banks”.

The fifth fact says: “None of these [cryptocurrencies] are backed by any government”. Meanwhile the sixth even more ironically decides that crypto markets “lack a transparent support system”.

The fact that Bitcoin is not the only cryptocurrency, but Economic Times says,  that altcoins exist is also reason to avoid it.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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