Pascal Blanque believes that governments will "kill" bitcoin - - Financial Market Media No. 1 in the World Pascal Blanque believes that governments will "kill" bitcoin Pascal Blanque believes that governments will "kill" bitcoin

June 4, 2021

Pascal Blanque believes that governments will "kill" bitcoin

 There have been rumors in the market that the governments of China and the United States will purposefully work to tighten cryptocurrency circulation in their territories. The PRC may even completely ban mining. And this opinion did not arise out of nowhere. The latest initiatives of Beijing and Washington suggest that these are not simple fears "out of the blue", but quite real prospects. Many famous personalities adhere to this opinion. Earlier, the US Securities and Exchange Commission had already announced its plans to develop a set of rules for the functioning of cryptocurrency exchanges in the country. Pascal Blanque, director of the French investment fund Amundi, which manages $1.7 trillion in assets, also shared his opinion. He believes that cryptocurrencies are "pure farce" and "bubbles". According to Blanque, Bitcoin and its companions will be remembered in the world because they motivate central banks to issue digital money. Blanque believes that eventually central banks and governments will "stop the music" for Bitcoin. Earlier, Amundi experts conducted a study, the results of which showed low liquidity of cryptocurrencies, as well as a high probability of a collapse of quotes at any time, especially against the background of the introduction of strict regulation by states. Thus, as we said earlier, bitcoin in 2021 may not expect a rapid recovery and growth to $100,000, but another large-scale collapse in its history, especially if the fundamental background remains as bad.

Technically, in the 4-hour timeframe, bitcoin rose to the upper, downward trend line and failed to gain a foothold above it. Therefore, on the next day, we expect a decline in bitcoin in the lower, ascending trend line, which lies near the level of $35,200. If the "digital gold" rate manages to gain a foothold above the upper trend line, this will increase the likelihood of growth with a target of $43,852. In any case, now bitcoin remains trapped in a triangle, so you need to look through which of its sides it will eventually exit from.