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Bitcoin Bull Joe Kernen Compares BTC to Amazon: "People Didn't Understand Anything About It"

  • Alex Dovbnya
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    CNBC’s host Joe Kernen believes that people do not understand Bitcoin just like they didn’t understand Amazon in the late 90-s   

Bitcoin Bull Joe Kernen Compares BTC to Amazon: "People Didn't Understand Anything About It"
Cover image via www.cnbc.com
Contents

During the latest episode of CNBC’s “Squawk Box,” Blockstack CEO Muneeb Ali weighed in on cryptocurrency regulations and the disruptive potential of cryptocurrencies.

Meanwhile, longtime anchor Joe Kernen drew parallels between Bitcoin and Amazon.

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Bitcoin is the new Amazon  

Kerner once again reminded that he’s bullish on Bitcoin, but he doesn’t do predictions (he’s not like Tom Lee).

I don’t make forecasts. I have no idea, but I understand the math a little bit better. […] So, I see that it does have value, an unforgeable value or scarcity, whatever.”        

Ali called Ethereum “an interesting experiment” while agreeing that Bitcoin is a digital gold. Moreover, he suggested that Bitcoin could the single biggest technical breakthrough of the last decade.    

In turn, Kerner has put Bitcoin (the Internet of money) on the same pedestal with electricity and the Internet. He also compared the crypto king to Jeff Bezos-helmed tech behemoth Amazon.

Think about Amazon in 1998 when people didn’t understand it.”  

Amazon was at the top of its game during the dot-com bubble, but it felt the bite after the crash. Fast-forward to 2019, it is now considered to be one of the most valuable companies in the world with a market capitalization of $877 bln.

Notably, Bitcoin’s ongoing recovery has been much smoother compared to Amazon.

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Regulatory issues

Back in July, Blockstack made history by receiving SEC clearance to hold the first regulated token offering.

Ali points out that US exchanges have to obtain appropriate licenses in order to trade such assets in a fully regulated way.

Given how patchy regulations are in different jurisdictions, Blockstack will first target international customers.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

  • Yuri Molchan
    📰 News

    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Bitcoin Price Likely to Decline to $7,800: Crypto Analyst
Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

Subscribe to News.U.Today on Facebook, and get involved in all top daily cryptocurrency news, stories and price predictions!

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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