• Cardano’s founder, Charles Hoskinson, is confident that Bitcoin will soon rise again to USD 10,000.
• In his opinion the FUD news of the last days and weeks were responsible for the price drop of the market.

Bitcoin’s price has fallen sharply in the last few days and yesterday briefly reached the USD 6,800 mark, at which Bitcoin bounced off for the time being. At the moment, Bitcoin is trending sideways, but analysts say the price could drop further to 6,000 USD. CEO and founder of Cardano, Charles Hoskinson, is optimistic.

Bitcoin will rise to USD 10,000 once market is adjusted

Hoskinson describes in a recent tweet that crypto currencies represent the future of the financial world and that a lot of FUD is currently being spread in the market, causing unrest and uncertainty among investors. The current news is cleaning up the market and removing “weak hands,” Hoskinson said.

He also notes that the world is undergoing global change and that Bitcoin’s price may soon reach USD 10,000 and possibly USD 100,000 again:

Crypto is the future.

As we have already reported, there have been many false reports from China. For example, the headline of a police raid in Shanghai in the Binance office, which didn’t even happen. However, Binance CEO Changpeng Zhao immediately denied these rumours:

You can argue about the semantics of an office, who leased it, for how long, if it is empty, etc. But you can’t argue about the semantics of a “police raid” that did NOT happen. Without the fake “police raid”, there is no article. Pure FUD!

There was also another report that various Chinese institutions had investigated the illegal trading of cryptocurrencies in their own country, identifying more than 39 exchanges. A few hours ago the Central Bank of China officially confirmed that appropriate measures will be taken:

[…] adopt monitoring measures such as interviews, inspections, and bans on the monitored entities involved in virtual currency activities to resolve related risks in a timely manner.

Overall, the news from China remains opaque, but there is no doubt that China is following the “Blockchain Yes, Bitcoin No” approach. Dovey Wan, blockchain enthusiast and founder of PrimitiveCrypto, reaffirmed China’s position on Bitcoin and blockchain technology.

Has Bitcoin reached the ground?

The “Fear Greed Index” of alternative.me continues to show a clearly unsettled mood in the market. Some experts in the industry suspect that whales, which have liquidated their profits in the short term, are behind the current price developments.

At the time of writing, Bitcoin recorded a downward movement (- 4.94%) within the last 24 hours to a price of USD 7,222.14. The price of the whales was USD 7,222.14. The price of the whales was USD 7,222.14. It remains to be seen whether the bottom has actually been reached and whether the price development forecast by Hoskinson will occur.

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