• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Bitcoinist.com
No Result
View All Result
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
“Crypto Is Not Dead” Says Allianz Chief Economic Adviser
Advertisement

‘Crypto Is Not Dead,’ Says Allianz Chief Economic Adviser

Georgi Georgiev by Georgi Georgiev
4 years ago
in News, Bitcoin, Bitcoin Acceptance, Companies, News teaser
0
Advertisement

Despite the fact that the cryptocurrency market has lost over $600 billion of its capitalization since January, the Chief Economic Adviser of Allianz maintains that it’s not even close to being dead.


“Crypto Is Not Dead”

2018 has been rough for cryptocurrencies as the total market shrank from near $800 billion in January to $199 billion at the time of writing. Bitcoin (BTC) [coin_price] has lost around 60 percent of its total value, while Ether, the second largest cryptocurrency, is down with around 80 percent.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.

However, Mohamed El-Erian, chief economic advisor of Allianz, holds that cryptocurrencies and their underlying technology are far from being dead. Instead, he sees more widespread adoption coming from both the public and the private sectors.

Crypto is not dead, and certainly the underlying technology is not dead. […] we’re going to see more widespread adoption, by both the private and public sector, of the blockchain technology and related technologies.

Earlier in July, El-Erian said that bitcoin is a buying opportunity if the prices fall below $5,000.

Allianz

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

At the same time though, the chief advisor also maintains that adoption is not going to be as rapid as cryptocurrency proponents would like it to be:

In terms of crypto, what we’re getting is the realization that adoption is not going to be as big and as quick as the proponents of crypto would like. I think it’s going to be there, it’s going to last for a long time, it’s going to play a role in the ecosystem, but it’s not going to be the currency that a lot of proponents would like it to be.

Is Bottom In?

El-Erian’s statement comes as prominent cryptocurrency investor Mike Novogratz outlined that the market has bottomed and that, “we retraced the whole of the bubble.” However, this is not the first time the owner of Galaxy Digital Investment Bank has called in the bottom. In July, Novogratz also said the same thing speaking to Ran-Neuner, host of CNBC’s “Cryptotrader.”

Neu-Ner himself seems to be sharing similar sentiments as Novogratz, as he also tweeted September 13 that prices may have bottomed, citing data from Coinbase.

Received these Coinbase numbers from @BarrelProtocol yesterday. They suggest that we may have seen the bottom. Withdrawals seem to have bottomed out. Fiat inflows on the way up. It’s not a confirmation but certain a good sign.

Received these Coinbase numbers from @BarrelProtocol yesterday. They suggest that we may have seen the bottom. Withdrawals seem to have bottomed https://t.co/5jI4oa2uKh inflows on the way up. It’s not a confirmation but certain a good sign. pic.twitter.com/qNqrBp0lk8

— Ran NeuNer (@cryptomanran) September 14, 2018

What do you think about Mohamed El-Erian’s position on cryptocurrencies? Don’t hesitate to let us know in the comments below!


Images courtesy of Shutterstock, Twitter.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Georgi Georgiev

Georgi Georgiev

Related Posts

50% of Bitcoin hashrate Controlled by Two Mining Pools

Data Shows 50% Of Bitcoin Hashrate Controlled By Two Mining Pools

6 hours ago
Institutional Bitcoin Buying Is a Positive Sign, Suggests Matrixport

Institutional Bitcoin Buying Is A Positive Sign, Suggests Matrixport

1 day ago
Bitcoin BTC

Inflation May Be In A Lull, What Does That Mean For Bitcoin?

2 days ago
Bitcoin Lightning Network POS Clover

Major Adoption News For Bitcoin: POS Giant Clover Starts Lightning Trial

2 days ago
Bitcoin

These Metrics Hint At Massive Bitcoin ‘Buying Opportunity’, Says Analyst

3 days ago
Bitcoin Whale

Bitcoin Exchange Whale Ratio Surges, What Does It Mean?

3 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • Is Aptos (APT), Solana (SOL), or Snowfall Protocol (SNW)...

    11 hours ago
  • Hector Network launches its NFT marketplace on Fantom...

    11 hours ago
  • Fantom (FTM) launches ecosystem vault to finance dApp...

    12 hours ago
  • Esports Driving the Advancement of Cryptocurrency in Sports...

    1 day ago
  • Connecting the dots on $PAW. Is Ryoshi back?

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.