Andrei Kostin, head of one of the largest Russian banks VTB, joined the ranks of crypto skeptics. The banker believes that digital money is a niche asset, and miners look like counterfeiters.
The cryptocurrency market is too small, and it is unlikely to become widespread in the future.
Kostin also explained that the growing transparency of the global financial system is one of the factors that will hinder the massive adoption of cryptocurrency. In addition, Kostin stressed that the digital asset market is not regulated in the vast majority of jurisdictions.
Like many top managers in the traditional financial industry, Kostin is frustrated by the idea that digital assets can be used to launder money and finance illegal activities.
In the meantime, Bitcoin (BTC) continues to fluctuate in a narrow range. Now it is difficult to predict where the price will go, so traders should prepare for a surge in volatility when breaking out of the current range. If the bulls can keep the price above the cluster area from $ 3,600 to $ 3,640, then the recovery will gain momentum and raise the BTC to $ 4,000.
On the other hand, a steady move below $ 3,350 looks ominous, as it will open the way to the lowest level of 2018 – $ 3,127.
And what do you think about this?
