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Ripple CTO David Schwartz Says Bitcoin (BTC) Price Won't Decrease. Here's Why

News
Fri, 06/26/2020 - 10:31
Vladislav Sopov
Chief Technical Officer of Ripple Inc. David Schwartz has commented on American investor Jim Rogers' skepticism of cryptocurrencies and Bitcoin (BTC)
Ripple CTO David Schwartz Says Bitcoin (BTC) Price Won't Decrease. Here's Why
Cover image via www.youtube.com
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Recently, legendary investor and Austrian School economist Jim Rogers in his interview with Japanese media outlet Asahi admitted that he foresees a very sad future for Bitcoin (BTC) and cryptocurrencies. What makes him think so? And why does the Ripple CTO disagree?

'Governments have guns'

Like many other old school investors, Jim Rogers believes that both Bitcoin (BTC) and altcoins are clearly bubbles. These institutions are too immature, so, their rapid growth is nothing but euphoria.

Also, according to the investor, interest in cryptocurrencies is based on the demerits of the modern fiat-based monetary system. Crypto holders try to outsmart governmental control, but they have no chance to succeed. State-backed institutions still have too much power to disrupt the cryptocurrency sector with their 'guns'.

In turn, cryptocurrencies lack the 'armed force' of governmental power and that's why they would be easily destroyed by states, the investor admitted.

However, he thinks digital money is a valuable concept, and governments will use them to advance asset control systems. That's why some states are researching digital currencies and their use-cases. As covered by U.Today Crypto News, Saudi Arabia recently deployed a blockchain system for the interaction between the central bank and local banks.

Price may not even decrease

Ripple CTO David Schwartz highlighted that government restrictions typically are not effective in this industry. It is unlikely they will even push its price down, let alone destroy Bitcoin (BTC) completely.

Ripple CTO doubts the opinion that governments can destroy crypto
Image via Twitter

He reminded his followers that regulatory restrictions or bans do not result in price declines for assets. 

Three weeks ago Jim Rogers recommended avoiding taking investment advice from states. He insists that this warning is particularly important in a time of recession.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director

News
Mon, 07/13/2020 - 14:38
Vladislav Sopov
John Lilic, managing director at ConsenSys decentralized development studio, has shared an over-bullish prediction for Ethereum (ETH) progress
Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director
Cover image via stock.adobe.com
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John Lilic leads international business development in the ConsenSys leading blockchain development studio. He is also an expert in energy markets and cryptocurrency segments. He tracked the progress of Bitcoin's (BTC) and Ethereum's (ETH) market capitalization statistics, coming up with an extravagant prediction.

Bitcoin (BTC) should get ready for parity

Mr. Lilic outlined that Ethereum (ETH) is showcasing much healthier dynamics than its competitor is. For instance, the flagship cryptocurrency still surpasses Ethereum (ETH) by 6.3x in terms of market capitalization, while simultaneously collecting 20% fewer fees than Ethereum (ETH).

John Lilic of ConSensys foresees parity of Bitcoin (BTC) and Ethereum (ETH) market capitalizations
Image via Twitter

Also, Ethereum (ETH) is demonstrating much more impressive price dynamics this year. It gained almost 37% against Bitcoin (BTC) in 2020. That said, Ethereum (ETH) looks severely undervalued to the top manager of ConsenSys.

However, Ether is on the path to eliminating this discrepancy. Eventually, the top two cryptocurrencies may reach market capitalization parity, concludes Mr. Lilic.

Related Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains
Related
Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains

As covered by U.Today Crypto News recently, Coinmetrics on-chain research team called Bitcoin (BTC) and Ethereum (ETH) the unique crypto behemoths that have managed to recover from Black Thursday.

Bitcoin (BTC) is losing supremacy in "fee race"

Should Ethereum (ETH) overcome its undervaluation, its price may be over $1,550 based on liquid supply and current Bitcoin (BTC) market capitalization.

Recently, it was unveiled that Ethereum (ETH) blockchain continues to surpass Bitcoin (BTC) in terms of network fees for more than 30 days in a row. Ethereum (ETH) is seeing this advantage for the first time in its history.

As U.Today Crypto News reported previously, ex-Messari analyst and angel investor Qiao Wang identifies two main catalysts of Ethereum's (ETH) price run in the mid-term perspective.

Related Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang
Related
Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang

According to Wang, the upcoming rally may be fueled by a long-awaited transition to Proof of Stake and fixing the monetary policy of Ether token.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)