Too many wrong words have been spread about the fate of Bitcoin and Cryptocurrency. Many highly placed persons have called "Bitcoin a bubble and a fraud."
JPMorgan Chase CEO, Jamie Dimon's comments that bitcoin is a "fraud," is still fresh in our minds and that statement actually sent the wrong message that sent the price of Bitcoin crashing and many investors had to dump. We are now in an age of understanding that needs for greater adoption of the 'new reality.'
This statement which is now being seen as an endorsement of Cryptocurrency by the IMF's chair, was made on Thursday, when Lagarde moderated a panel discussion on Fintech and the role of Central Banks, which had Central Bank officials and executives from Fintech companies.
Lagarde told CNBC she expects the IMF will play a role in regulating the Fintech industry going forward, but didn't mention if they will be actively involved in Cryptocurrency regulation. There were however some hints the IMF may be looking to create their own cryptocurrency soon. Good times are here I guess.
She says she hopes the IMF can participate in the cryptocurrency process because it is a very cross-border process.
This news is coming in the wake of the Russian Government's decision to ban crypto and fine anyone caught trading in it. Russia's Central Bank's First Deputy, Sergey Shvetsov called it a "pyramid scheme that is hotting up."
You will recall, China also placed a ban on everything crypto, a development that seriously drove down the price of Bitcoin.
Bitcoin crossed the $5,000 threshold and hits a new ATH of $5,800.
What do you think this means for the adoption of Bitcoin, STEEM and other Cryptocurrencies?
What next after that? Are we seeing a #10,000 price for Bitcoin before April 2018?
Is this an indication that STEEM will get a breather soon given the mass adoption by many?
Is STEEM hitting the $10USD mark before the end of the year?
What will drive the price of STEEM and how soon will that be?
Although the price of Steem has been dropping, I am particularly sure it will start making an upward move in the coming weeks. I see more and more people getting interested in the STEEM Technology and there sure is a demand by many.
What do you think the price of STEEM will be by the time Bitcoin hits $10,000?
Be excited, be very very excited as there are some good times ahead for the STEEM!
Read more and watch the video at CNBC [Lagarde endorse Cryptocurrency"]9https://www.cnbc.com/2017/10/13/bitcoin-get-serious-about-digital-currency-imf-christine-lagarde-says.html)
Coindesk has this about the news. Massive Disruption': IMF's Lagarde Says Cryptocurrencies Must Be Taken Seriously
It really sounded like that. I'm gonna have to frame Lagarde's words like I framed Yellen's when she said there would be no more stock market crashes in her lifetime (hint, she doesn't plan on living long I guess haha)
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@cryptoeagle the new stock market crash is near, what you think? Some people mentionnthe real estate market is in a bubble now even larger than when the crisis of 2008 tookmplace. Your thoughts? @gold84
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Could be any time now, all we need is a trigger. Maybe a North Korean rocket or something like that
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@cryptoeagle hope not, things are getting a bit crazy. @gold84
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Never believe anything a banker says...and Yellen is a banker.
What is sad is people are calling for Trump to bring her back...not that it much matter....swapping one banker out for another is like switches cabins on the Titanic....the result is still the same.
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The crypto intrigue gets more interesting, just when they say its not worth it, it just keeps going higher and getting stronger. We are now so very sure it will keep getting better and hope STEEM does too.
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That is good news for the people involved with crypto currency. Hoping to see the improvement of steemit
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It is good news for everyone.
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All the alt coins including Steem goes down when BTC goes up. I think, when Steem establishes its own identity to be traded by dollar, then it will shoot up. Again its all personal observation.
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I think that is the next move Steemit Inc will be releasing soon, the introduction of the SMTs and subsequent adoption will work well when Steem trades directly to the USD.
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I forsee Steem making a major hit by December.
I rather power up than power down
Cryptocurrency is taking over!!!
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I second that thought mate... I see good numbers for Steem as well.
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Hi @ejemai. Thank you for such a solid post. BTC $5K It was not to long ago it was at $500. Steem has an amazing future. Who knows where Steem will be in 48-60 months. Thanks again. Have a killer day.
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Steem is the future and i can bet that in 48 to 60 months the price will be mind blowing.
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Bitcoin might cross the $10000 mark in my opinion by the end of the year!
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Now that will be the best news for everyone. Bitcoin is on a mission.
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Amazing post...
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Thanks
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Are there scenarios where countries all collectively develop their own cryptocurrency to replace their fiat currency? We have China doing it, Russia, I don't know how many others. Seems like a way for them to abandon the "paper stuff" and start again, but maybe they wouldn't build truly blockchain decentralised ones, but ones with built in manipulations and potential outs.
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It is left for these countries to decide the best approach to adopting crypto. What will make it work better is when they do not get into the system to stink it up.
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This post has been resteemed by @msp-africa courtesy of @ejemai from the Minnow Support Project ( @minnowsupport ). Join us in Discord.
Upvoting this comment will help support @minnowsupport.
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There were some things that I did not know thank you
I'm a security expert, if you want or if you have time in your hand, you can take a quick look at my last post, maybe it will be useful to you ...
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Thank you for reading and I will do that.
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I dont think you see $10 STEEM before the end of this year but you do see it in 2018.
The news by the head of the IMF certainly does counteract what Dimon said. Of course, the actions by his own bank does the same thing.
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Well lets wait and see how it all pans out. Thanks for reading.
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JPMorgan Chase CEO, Jamie Dimon's comments against crypto is not generally identified. But a personal perception. I think, with the Leven crypto transaction is enlarging day by day. Very very soon, Steem will increase to the core. I Can't wait to see it happening. Thanks @ejemai for the infor
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crypto used to be like magic to me but now I think I can give my time to learning some basic things about it. For me powering up is the best thing to do, I see great future in steem and am going to help mine on here.
bitcoin is increasing and steem reducing I so wish someone can explain that in simple terms for me though. Crtpto world is really crazy...lol. Thank you for sharing this @ejemai.
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Great post! I believe the I M F is already way ahead. We will probably see blockchsin based S D R in the future. We'll see.
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