Bitcoin Price Analysis: ECB’s Hansson says that cryptocurrencies are a load of nonsense and will die
- ECB Hansson does not appear to be a fan of cryptocurrencies by any means, calling them nonsense.
- BTC/USD continues to hold its ground firmly within the $4000 territory for now, where known sellers have been seen.
The European Central Bank policy maker Ardo Hansson was recently speaking, being covered via Bloomberg, speaking very much negatively on cryptocurrencies. He was as extreme as saying they will die.
Hansson, Estonian central-bank governor was quoted saying “The bubble has already started to collapse and maybe we should just see how far this collapse goes, and what is left when we’ve reached a new kind of equilibrium,” Further adding, “I think we will come back a few years from now and say how could we ever have gotten into this situation where we believed this kind of a fairy-tale story.” All covered via Bloomberg, as Hansson was speaking at a conference in Lativa.
Bitcoin in the latter part of Monday was trading down with minor losses of some 0.50%. The price trading well within the $4000 territory, where known sellers are eyed. BTC/USD has not been above the $4000 price region since 20th November.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
