Date: 8 months ago   Category: Economy

Ex-manager of hedge funds: for bitcoin the sun already sets

The former manager of hedge funds Jim Cramer considers that the bitcoin is already almost dead. Cramer forecast has fallen on the difficult period for bitcoin and all cryptoforeign exchange market. The virtual currency number one flirts with value of $6000, falling below this price several times for several last days.

Acting during the show on the Tuesday conducting CNBC has told: - I consider, the wave was developed against him. I don't say that his time has passed, but there is such opinion that the sun sets. Sufferings of bitcoin have renewed fully at the beginning of August when the price of bitcoin has endured several sharp falling. Since the beginning of year the bitcoin has dropped almost by 60%.

Restraint of the American SEC concerning approval of ETF of bitcoin has, it seems, lowered trust to the market of retail investors. Even emergence of some positive events on the institutional front couldn't cause splash in the cryptocurrency prices.

However comparison of bitcoin by Cramer with the setting sun isn't absolutely right as the market only arises. All signs indicate that ETF of bitcoin will be approved at the beginning of 2019. Many experts agree that they crucial infrastructure, such as guardianship and liquidity, have to be strengthened before emergence of the approved SEC ETF of bitcoin.

have Already begun some perspective developments in the custodian sphere from such cryptocurrency companies as Coinbase. Recently there was information that Goldman Sachs considers an entrance to custodian cryptocurrency space.

without having stopped for analogies to the setting sun, Cramer has referred to comments of the CEO of CyberArk Fish Mokade (Udi Mokady). According to Cramer: - This thing [bitcoin] already I became something like currency beyond the law. Cramer has again remembered an outdated statement that the bitcoin is cryptocurrency of terrorists, drug dealers, is used for money laundering and so on. In 2017 Cramer has assumed that the only reason for which the bitcoin will achieve the objectives of 1 million dollars will be connected with extortion and blackmail.

Though harm from cryptocurrency blackmail isn't something that can be ignored, the sum of the money mixed in it won't be able to create a candle in the global auction of bitcoin. The idea that the unclear cryptomarket, like it, will be able to affect the cryptocurrency sphere generally, just ridiculous.

Earlier this year the report has shown that cryptocurrencies make insignificant percent in cases with money laundering. Recently the Agency of the USA on control of drugs (DEA) has reported that only 10% of bitcoin are used for illegal activity. According to the special agent Lilita Infante, the member of the Working group on cyberinvestigations of DEA, the lion's share of volume of transactions of BTC is made by speculative investments.

For those who don't know yet Cramer is that person, has impudently said in 2008 that with Bear Stearns everything will be good when the company bargained at the level of $62 in 2008. Whereas less than for a week of JPMorgan to



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