Saturday 4 February 2023
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Critic of Bitcoin’s ‘one-percenters’ still positive about future of digital assets

A future without digital assets is hardly imaginable but Bitcoin (BTC) is far from being perfect by design, according to a finance professor at the London School of Economics (LSE). LSE financial professor Igor Makarov believes that digital money and digassets will undoubtedly be part of the future of finance and their efficiency will depend much on their design. In an interview with Cointelegraph, Makarov said that there has not been much evidence that Bitcoin can become a store of value as it has been extremely volatile over the past 10 years. Since Bitcoin’s volatility remains high despite its massive rise in value and increased liquidity, there is no guarantee that its price will become more stable one day, he said. “Without any government backing Bitcoin, the cryptocurrency’s value depends on the willingness of the general public to hold it, which, in turn depends on changing investor sentiment and its standing against other cryptocurrencies,” Makarov stated. The professor also as..

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‘Bullish rate hike’ — Why crypto spiked today in the face of bad news

The cryptocurrency markets have been pumping since the announcement of a 75 basis point interest rate hike in the United States, with experts explaining that the markets may have been initially bracing for much worse. On July 27, the price of Bitcoin (BTC) surged around 8% to the mid $22,500 mark following the Federal Open Markets Committee (FOMC) decision to raise interest rates yet again. Many other top crypto assets surged in price as well, with Ether (ETH), Polkadot (DOT) and Polygon (MATIC) all seeing notable double-digit gains over the past 24 hours. Quantum Economics founder and CEO Mati Greenspan on Wednesday jokingly questioned whether this was a “bullish rate hike” on Twitter. Speaking with Cointelegraph, Greenspan noted that investors were clearly expecting worse and suggested this latest bounce is nothing out of the ordinary: “Markets love going up on Fed days, even when their decision is to be tough. Powell is particularly skilled at delivering bad news. Clearly investo..

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