Price analysis 7/9: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, UNI, BCH, SOL
Cointelegraph
Published Jul 09, 2021 01:44PM ET
Updated Jul 10, 2021 04:20PM ET
Earlier this week, Fan Yifei, the deputy governor of the People’s Bank of China has warned that stablecoins like Tether (USDT) pose “risks and challenges to the international monetary system, and payments and settlement system”. Fan did not even spare Bitcoin (BTC) and called it a tool for speculation and a possible threat to “financial security and social stability.”
Other than the FUD from China, several traders have been focusing on the unlocking of a large amount of Bitcoin at the Grayscale Bitcoin Trust as a possible bearish sign. However, market analysis by crypto trading firm QCP Capital said the event won’t have any “significant impact on the overall market outside of GBTC itself.”
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Written By: Cointelegraph
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