Crypto Market Overview January 25th | Dex-Trade

Crypto Market Overview January 25th | Dex-Trade

Crypto Market Overview – January 25th, 2022

 

Bitcoin Will Be Bought When It Collapses to $20,000: Kiyosaki Forecast

“Rich Dad Poor Dad” bestseller author and financial expert Robert Kiyosaki tweeted on Sunday that BTC is crashing and investors are not yet ready to buy more flagship coins as their value will continue to decline. In addition to this, he wrote under what conditions he would buy crypto-gold: “Price of Bitcoin [is] crashing. Great news. I bought BTC at $6K and $9K. I will buy more if and when BTC tests $20K. Time to get richer is coming.” By the way, starting from October 2021, Kiyosaki warned about the collapse of the cryptocurrency market. In December, he openly wrote that "Crash and depression [are] coming" and also predicted a fall in the prices of gold, silver and real estate. In November, the financier said that he intends to buy "more gold, silver, bitcoin, Ethereum, rental real estate, and oil." However, even earlier, Kiyosaki noted that “the biggest bubble in the world is getting bigger,” alluding to the uncertainty in BTC pricing. He consistently criticized the optimism of cryptocurrency analysts during the November market boom, but at the same time did not rule out that the crypto would rise in price. Perhaps that is why, back in October, he wrote: “Be smart: buy gold, silver and bitcoin.”

 

Crypto Skeptic Launches Browser Extension to Block NFT Twitter Accounts

A developer called mcclure, who calls non-fungible digital art tokens an “investment scam”, has released an open-source browser extension on Github that automatically blocks all Twitter users who use verified NFT avatars on their account. The move was his response to a new feature on Twitter that allows token holders to automatically verify ownership of a digital work of art when they use an NFT as their profile picture. In addition to mentioning the negative impact of NFT on the environment and the use of technology in various fraudulent schemes, up to the theft of art works, mcclure writes in the readme file for its extension: “In short, NFT users are just irritating to be around. People who bought NFTs have to keep hyping other people to buy NFTs or the NFTs they bought will lose value. Twitter NFT cliques are rife with sockpuppet accounts, dogpiling and indifferentiable monkey clones. Blocking NFT users just makes Twitter nicer.” By the way, Elon Musk is also not enthusiastic about the new Twitter feature. The businessman believes that the company would be better off spending its money on fighting the myriad of spam bots that flood the platform with fake scam giveaways.

 

 

US to Launch Its Own CBDC by 2030

According to financial experts from Bank of America (BofA), stablecoins will be increasingly used in various transactions with money, and by 2030 the US will launch its own CBDC, and this step will be “inevitable.” CBDC is one of the key trends among central banks, but just few countries already have digital versions of their national currencies. However, the US has always seemed to be lagging behind in this digital race, as Fed Chairman Jerome Powell has repeatedly said that the country should do the right thing, not be first. However, the country with the largest economy in the world clearly cannot afford to implement the experience of China and forcibly replace all cryptocurrencies with CBDC. However, banking strategists Alkesh Shah and Andrew Moss believe that CBDCs "are an inevitable evolution of today’s electronic currencies." By the way, last week the US Federal Reserve already published a report that examines the pros and cons of CBDC. The key advantages of state stablecoins, according to the authors, are the acceleration of transactions and the reduction of fees for their processing.