crypto expert

The weekend is offering some respite for Bitcoin investors. The bellwether of the cryptocurrency world rose 8 percent to $6,360.45 as of 11:23 a.m. in New York on Saturday, according to Bitstamp prices. The gain, which comes after the digital asset crashed through the $6,000 threshold last week for the first time since February, means the token has still lost about two-thirds of its value since reaching a record high of nearly $20,000 in December. Saturday’s rise marks a pause from the jarring decline through most of 2018. It follows the increase of more than 1,400 percent last year as Bitcoin exploded onto the mainstream. The peer-to-peer currency developed after the 2008 global financial crisis traded at as little as 30 cents at the end of 2010 While it’s difficult to identify specific catalysts for Bitcoin’s decline, the bursting of a speculative bubble may be at the heart of the matter as questions about the long-term viability of the virtual currency and price manipulation...

Yukio Noguchi, a famous economist in Japan and an advisor to Waseda University’s Business and Finance Research Center argues we can’t expect Bitcoin’s prices to rapidly surge again. In his books and in recent articles, Noguchi makes his case eloquently. He wrote a recent article in Diamond Weekly clarifying his position but has been making his case since January of this year and published a book last December. He argues that the introduction of the futures market has driven down the price considerably. This year in January he persuasively argued that the cause of Bitcoin price collapse was the start of the selling of bitcoin futures. “Bitcoin prices were a bubble, to begin with, and now we’re seeing a return to normal values. The San Francisco Federal Bank, in a report, also suggested that the introduction of Bitcoin futures trading caused a price drop. Additionally, the market is heading towards a situation in which it will be possible to short-sell bitcoin futures and that w...