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Bitcoin Battle: eToro’s Chief Analyst Mati Greenspan Bashes Popular Bloomberg TV Anchor for Speaking against Bitcoin ETFs

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  • Yuri Molchan
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    eToro’s Mati Greenspan publishes an open letter to a top Bloomberg TV anchor Joe Weisenthal, who has recently spoken critically of Bitcoin and BTC ETFs on Twitter

Bitcoin Battle: eToro’s Chief Analyst Mati Greenspan Bashes Popular Bloomberg TV Anchor for Speaking against Bitcoin ETFs
Cover image via www.123rf.com
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‘One of Bloomberg TV’s most talented anchors’ with 180,000 people following him on Twitter,  Joe Weisenthal, has joined Dr Doom Roubini and others of the kind to have a public say against Bitcoin and Bitcoin ETFs that are currently being considered by the US SEC.

The chief analyst of eToro Mati Greenspan in his daily newsletter has published an open letter to this man, reminding him what Bitcoin was actually made for and why he should not be criticizing it.

 

"Bitcoin is for making transactions against the man"

Quoting Weisenthal, Greenspan admits that his opponent is not only a popular Bloomberg TV anchor but an excellent economist. Still, the analyst strongly disagrees.

On his Twitter page, Joe Weisenthal criticizes Bitcoin and blockchain overall, writing:

In the comment thread, he adds:

“There's no getting around it. If your intention is totally legal or benign or inoffensive, use a Visa card. A blockchain is too computationally inefficient and expensive to waste on anything but the transactions which Big Business and Big Government don't want you to do.”

Mati Greenspan points out that this and other arguments against Bitcoin and other blockchain-based currencies are ‘fundamentally flawed’.

The eToro’s analyst reminds that Bitcoin was designed to be an open and free network. It was meant to be used by people the way they want. Some, unfortunately, chose BTC for illicit and criminal utilization.

He enumerated positive sides of BTC use, such as quick and cheap remittances, and in particular, advantages that BTC gives to market participants.

 

Weisenthal ‘wasn’t actually attacking Bitcoin’

Later on, Joe Weisenthal posted an update, saying that it was not Bitcoin he spoke against. No, it was startup founders who were ‘whitewashing Bitcoin's radical, anti-establishment roots’.

Greenspan responds to that:

“Bitcoin was created to provide an alternative to the current financial system, which is controlled by governments and banks. To give people the choice to opt-out. Now, that doesn't mean that these people are necessarily doing something wrong.”

Greenspan reminded Weisenthal that in his tweet he is playing against people who choose to use BTC as money that does not depend on banks or invest in it.

“At the end of your editorial note you did specifically urge lawmakers to think twice before approving a Bitcoin ETF… As an influencer, you have a loaded gun and you've handed it to the lawmakers who are trying to shoot Bitcoin down.”

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Bitcoin sentiment on Twitter rises thanks to Weisenthal’s message

eToro’s chief analyst points out that Weisenthal’s tweet actually provoked a positive reaction and only made people’s interest to Bitcoin on Twitter stronger.

“Still, the discussion you've created on Twitter does seem to have had a positive impact on overall sentiment. We can see that Twitter sentiment (the blue line) was at an extreme low at the time of your original tweet (red circle) but has since rebounded.”

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Bitcoin Price Forms Diamond Bottom Pattern, Signalling Bullish Breakout

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  • Alex Dovbnya
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    Bitcoin could witness a bullish breakout if its looming diamond pattern gets confirmed

Bitcoin Price Forms Diamond Bottom Pattern, Signalling Bullish Breakout
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

ByBit

The Bitcoin price is on the verge of forming a diamond bottom, which represents two juxtaposed symmetrical triangles. This a major bullish pattern that could be the bellwether of substantial price gains. 

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Top Bitcoin Trader on BitMEX Says He's "Long and Strong" as BTC Price Struggles to Hold $8,000

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According to cryptocurrency trader "The Moon," Bitcoin has a 70 percent chance of a bullish breakout if the aforementioned pattern gets confirmed.   

That said, Bitcoin would need a huge buying volume for this scenario to translate into fruition. 

Trading vet Peter Brandt noticed that the XRP/BTC pair was about to complete a diamond bottom. However, Ripple's native token failed to rally even before the much-awaited SWELL event that took place on Nov. 7-Nov. 8.     

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Bitcoin Price Could Soon Drop 40 Percent, BitMEX Data Shows

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As reported by U.Today, BTC dropped to the low-$8,000 level due to lack of enthusiasm on the buyer's side who failed to step in to reclaim $9,000. At press time, the coin that started it all is changing hands at $8,165 after being rejected at $8,200. 

Given that Bitcoin has trimmed all of its recent gains, market sentiment is now predominantly bearish. It remains to be seen how long it will be able to hold the crucial $8,000 support.      

Bitcoin Price
image by coinstats.app

Earlier, market analyst Willy Woo claimed that BTC's bearish price action ahead of the halvening event could mean that it might not witness another bull market. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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