RATE Group | ICOs ‘In a Lot of Trouble’ if Bitcoin Stays Under $10K, Says BitPay Exec
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ICOs ‘In a Lot of Trouble’ if Bitcoin Stays Under $10K, Says BitPay Exec

15 Sep ICOs ‘In a Lot of Trouble’ if Bitcoin Stays Under $10K, Says BitPay Exec

Posted at 02:31h in Bitcoin News by

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Controversial cryptocurrency payment provider BitPay appeared to back Bitcoin over altcoins this week as its CCO told mainstream media the ICO token market was “in a lot of trouble.”

Singh: Market Bottom ‘Hard’ To Call

Speaking to Bloomberg in an interview that also featured regular commentator Joe Weisenthal, Sonny Singh focused heavily on Bitcoin as the cryptoasset, which had a chance of upside while remaining silent on major altcoins such as Ether (ETH) 00.

“It’s hard to say [if this is the bottom],” he said about the current state of the market.

Right now the market is looking for some defining moment a catalyst. Right now you’re just seeing rumors that someone might do something… but I think next year you’re going to see big entrants become real.

Bitcoin 00 is in the spotlight for investors again this week after reports several major Wall Street firms had plans to enter the market.

Citigroup and Morgan Stanley insiders have hinted at non-custodial trading…

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