Man Group hedge fund CEO Luke Ellis likened cryptocurrencies to tulip rush. At the same time, the fund is interested in trading cryptocurrencies due to their high volatility. In his interview, Ellis described cryptocurrencies as speculative trading instruments with a high level of risk.
Former US Treasury Secretary Stephen Mnuchin has changed his hostility towards Bitcoin to a more loyal one. However, he himself is not going to invest in cryptocurrencies. The administration of former US President Donald Trump was known for its disdain for cryptocurrencies, and Trump called Bitcoin a "scam."
Bitcoin price has been holding in a narrow corridor between $ 30,000 and $ 35,000 for several weeks. Glassnode analysts have named the factors that can push the Bitcoin rate up. After recent fluctuations in the cryptocurrency market associated with bans by the Chinese authorities on mining and trading cryptocurrencies, the Bitcoin rate has stabilized and is holding in a narrow range.
CoinShares Development Director Meltem Demirors described the recent drop in Bitcoin as a normal market correction that weeds out panic-prone traders. After Bitcoin's April high attempting to cross the $ 65,000-mark, novice traders may be worried about the current decline. Demirors is convinced that after 200 days of the rise in the cryptocurrency market, its subsequent fall is quite normal, since the price of any asset cannot constantly go up.
Google will allow cryptocurrency exchanges and wallets from August 3 to advertise their services to American users, subject to certain conditions. In 2018, Google banned advertising of all financial instruments that could pose risks to users, and cryptocurrencies were no exception.
American businessman, billionaire and investor David Rubenstein believes that cryptocurrencies will remain in the financial market for a long time, as will gold. During the Squawk Box program on CNBC, Rubenstein revealed that he himself did not personally buy cryptocurrencies directly.
SkyBridge Capital founder Anthony Scaramucci believes that the popularity of altcoins does not prevent Bitcoin from maintaining its dominance in the cryptocurrency market. At the same time, the Bitcoin dominance index continues to be held at about 40%. According to Anthony Scaramucci, many investors still find it difficult to convince them to pay attention to Bitcoin.