Too many wrong words have been spread about the fate of Bitcoin and Cryptocurrency. Many highly placed persons have called "Bitcoin a bubble and a fraud."
JPMorgan Chase CEO, Jamie Dimon's comments that bitcoin is a "fraud," is still fresh in our minds and that statement actually sent the wrong message that sent the price of Bitcoin crashing and many investors had to dump. We are now in an age of understanding that needs for greater adoption of the 'new reality.'
This statement which is now being seen as an endorsement of Cryptocurrency by the IMF's chair, was made on Thursday, when Lagarde moderated a panel discussion on Fintech and the role of Central Banks, which had Central Bank officials and executives from Fintech companies.
Lagarde told CNBC she expects the IMF will play a role in regulating the Fintech industry going forward, but didn't mention if they will be actively involved in Cryptocurrency regulation. There were however some hints the IMF may be looking to create their own cryptocurrency soon. Good times are here I guess.
She says she hopes the IMF can participate in the cryptocurrency process because it is a very cross-border process.
This news is coming in the wake of the Russian Government's decision to ban crypto and fine anyone caught trading in it. Russia's Central Bank's First Deputy, Sergey Shvetsov called it a "pyramid scheme that is hotting up."
You will recall, China also placed a ban on everything crypto, a development that seriously drove down the price of Bitcoin.
Bitcoin crossed the $5,000 threshold and hits a new ATH of $5,800.
What do you think this means for the adoption of Bitcoin, STEEM and other Cryptocurrencies?
What next after that? Are we seeing a #10,000 price for Bitcoin before April 2018?
Is this an indication that STEEM will get a breather soon given the mass adoption by many?
Is STEEM hitting the $10USD mark before the end of the year?
What will drive the price of STEEM and how soon will that be?
Although the price of Steem has been dropping, I am particularly sure it will start making an upward move in the coming weeks. I see more and more people getting interested in the STEEM Technology and there sure is a demand by many.
What do you think the price of STEEM will be by the time Bitcoin hits $10,000?
Be excited, be very very excited as there are some good times ahead for the STEEM!
Read more and watch the video at CNBC [Lagarde endorse Cryptocurrency"]9https://www.cnbc.com/2017/10/13/bitcoin-get-serious-about-digital-currency-imf-christine-lagarde-says.html)
Coindesk has this about the news. Massive Disruption': IMF's Lagarde Says Cryptocurrencies Must Be Taken Seriously
