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Bitcoin News - Bitcoin Naysayer from Harvard Changes His Sceptical Opinion of Crypto

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💎👍Niall Ferguson, a famous expert in the history of economics, admits he was wrong when expressing disbelief in blockchain-based crypto
Bitcoin Naysayer from Harvard Changes His Sceptical Opinion of Crypto
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Earlier in March, Niall Ferguson, an economist-historian from Harvard University who wrote the book “The Ascent of Money”, participated in a business summit in Australia.

Mentioning his previous public speeches, he admitted that he was wrong when he called Bitcoin and DLT-powered platforms a total delusion.

Courage to admit one’s mistakes

Previously, the man also regretted that he ignored his son’s advice and refused to buy Bitcoin in 2014. Now he calls this the worst investment step he has ever made.

Saying that, he stated that if he had followed the advice of his teenage son, he would have increased his investment capital by nearly 4,500 percent when Bitcoin hit its ATH in December 2017.

When it comes to technologies, he regrettably admitted that one should listen to teenagers.

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Jumping on the crypto bandwagon

Now Ferguson seems to have joined the camp of financial industry big-names who have become enthusiastic about crypto and Bitcoin in particular. Among those are Twitter CEO Jack Dorsey, Apple co-founder Steve Wozniak and Elon Musk, Tesla CEO.

These three outstanding figures state that the history of digital tokens has just begun.

The Twitter CEO recently announced that he has been purchasing Bitcoin for $10,000 per week – the maximum that his Cash App allows one to invest in BTC.

Musk astonished everyone last year and also recently, praising Bitcoin for its structure, saying that paper money is about to go into the past and that he might be getting into BTC soon.

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Jack Thomas

Bitcoin News - LTC, BNB, TRX, and Others Can Make This a True Altcoin Season — How Can Bitcoin React?

☀️📈Since the Crypto Winter started thawing, all the main action has come from altcoins, and now a few are breaking key moving averages
LTC, BNB, TRX, and Others Can Make This a True Altcoin Season — How Can Bitcoin React?
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While the cryptocurrency market may not be fully bullish and breaking new records in terms of gains and growth, one thing that seems to be apparent is that the total bear market is starting to draw to a close. There has been a lot more positive sentiment in the past few weeks and months.

A lot of this has had to do with a few altcoins putting on good performances in the market. Thanks to positive news with a number of top 20 coin projects, their own token value has been rising – as well as importantly staying up.

Now, there is technical analysis that suggests that coins like Litecoin, Tron and Binance Coin, as well as lesser-known Maker, are trading above their 200-day moving averages, a development typically considered a sign of a healthy market.

This is good news across the board, but what is interesting to keep an eye on is whether Bitcoin will manage to keep up, outdo the altcoins, or potentially start falling behind, enforcing a true altcoin season.

Making a move

Of the top 20 largest cryptocurrencies by market capitalization as per CoinMarketCap, both the BTC and USD pairs of Litecoin, Binance Coin, Tron, and Maker are currently trading above their respective 200-day moving averages.

A moving average is simply an ongoing calculation of the closing prices of an asset over a specified period of time, but is also a tool traders use to gauge the asset’s trend direction as well as support and resistance levels.

These positive moves by top ranked cryptocurrencies are thus reinforcing the notion that the cryptocurrency market is heading towards spring again.

However, Bitcoin, as the head and the mover of the cryptocurrency market, is still trading below its own 200-day moving average, which could also be a reason why people are skeptical of flooding back into the market.

Altcoin season?

While Bitcoin has often been the catalyst and mover of the direction of the markets – and still predominantly is today – there have been times where the remainder of the coins take charge of the direction of things.

It is still early in the supposed Crypto Spring, but with altcoins making the biggest movements and helping prop up the market, one could assume that the market is heading for another altcoin season.

The last one was seen soon after Bitcoin’s All Time High as the remaining coins caught the tailwind of that astronomical growth, but things could well be reversed here if a few more major altcoins catch up and can cross their own 200-day moving averages.

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