Warren Buffett’s remarks drew attention over the weekend as the famous fundamental nick colas bitcoin dubbed Bitcoin “rat poison” admitting at the same time he did not understand the blockchain technology. He alluded to cryptocurrencies during the Berkshire Hathaway 2018 annual shareholder meeting in Omaha, Nebraska on Saturday. However, his opinions should not be viewed as shocking ones as Buffett already tended to lash out digital currencies in the past suggesting they will end badly after all. Bitcoin lost steam again after it failed to move above its resistance line.
Therefore, a slightly more profound pullback could be on the cards in the near term. Virtual currencies have settled down lately prompting some people to consider buying them in anticipation of a sudden rise as it was the case at the end of the last year. Having said that, the number of crypto pundits calling for higher prices has shrunk substantially and even Wall Street’s first analyst to cover Bitcoin has taken a more cautious approach regarding Bitcoin. Dash is slowly heading to an important demand zone which could provide a buying opportunity before long. Union Bank of Israel being the sixth largest country’s bank has been sued by the Israel-based cryptocurrency company Israminers for closing its account after three months of operations. In its statement the bank wrote that it will no longer allow the company to accept funds from Bitcoin exchanges, and then sending back money already received in the account – this could hit the crypto company cutting back on its investment capability such as buying mining hardware.
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More detailed information is available in Declaration of Investment Risk available at www. The content of this page has been prepared with care and diligence and with the knowledge of the author and are prepared for informative purpose only. The content of this page does not constitute investment advice in accordance with Ordinance of the Minister of Finance of October 19th 2005 on information constituting Recommendations concerning financial instruments, their issuers and drawers. Bitcoin is a cryptocurrency first described in a 2008 paper by pseudonymous developer Satoshi Nakamoto, who called it a peer-to-peer, electronic cash system. Through 2013 it has seen huge gains punctuated by high volatility.