Tag: bitcoin progress

Brazilian President Jair Bolsonaro Reveals He Doesn’t Know What Bitcoin Is

Jair M. Bolsonaro, the president of Brazil, has recently revealed in an interview with a well-known TV show host that he doesn’t know what bitcoin is, while speaking about his administration’s decision to shut down an ‘indigenous cryptocurrency’ project.

According to local news outlet Portal do Bitcoin, the TV show host has been participating in various cryptocurrency-related events recently, and was speaking to the country’s president about a cryptocurrency-related project barred by Brazil’s Minister of Human Rights, Family, and women, Damares Alves.

Bolsonaro, with a disapproving tone, stated:

She [Damares] discovered at the end of the transition last year that they were earmarking Funai for RS $40 million, and do you know why Ratinho? To teach indigenous people how to mess with bitcoin.

The “indigenous cryptocurrency” project Bolsonaro refers to was signed three days before the mandate of Michel Temer, Brazil’s former president, ended. It would see the country spend roughly $12 million to bring in an “alternative currency” for its indigenous communities, in a move that purportedly could “transform the reality of these people.”

As CryptoGlobe covered, however, the project saw the government sign a contract directly with the National Indian Foundation (Funai) and with the Universidade Federal Fluminense (UFF), instead of seeing organizations compete for it through a traditional bidding process.

At the time, officials claimed the UFF was chosen because of its “expertise” in similar projects. It’s worth noting, however, that Funai employees claimed the work that was set to be done was of “questionable technical relevance.”

Reacting to Bolsonaro’s disapproving tone, Ratinho asked the Brazilian president if he knew what bitcoin was. Bolsonaro replied he didn’t know but with help from the host managed to get a little more out:

It’s that virtual coin. I do not know how to operate that ‘train’ yet.

As Portal do Bitcoin reports, Bolsonaro’s son Carlos Bolsonaro appears to not yet properly understand cryptocurrencies. On the microblogging platform Twitter, he claimed the halted cryptocurrency project blocked “millions in bitcoin,” when in reality it blocked millions in fiat currency.

Featured image via Jair Bolsonaro’s YouTube channel.

Source: CryptoGlobe

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Crypto Analyst Brian Kelly: ‘No Shot’ for Bitcoin ETF in 2019

Crypto entrepreneur and regular contributor to CNBC, Brian Kelly, claimed that there is no chance for a Bitcoin (BTC) exchange-traded fund (ETF) approval in 2019. Kelly made his remarks in an interview with Cointelegraph at the Crypto Finance Conference, Switzerland, Jan. 18. Discussing the overall state of the cryptocurrency market, Kelly predicted that 2019 will turn out better than 2018. The analyst argued that “we are somewhere close to the end of [the bear market]………

Source: Crypto Analyst Brian Kelly: ‘No Shot’ for Bitcoin ETF in 2019

Bitcoin Price Approaching $4,100, but Don’t Get Excited Yet, Analyst Warns

The new year has kicked off on the right foot for Bitcoin investors. The currency has continued with its rally, gaining $375 since the year turned. In the past 24 hours, the currency has gained 6.5 percent, finally hitting the $4,000 level again. The last time Bitcoin hit this level was December 25, after which it went down all the way to $3,650. The fightback is certainly noteworthy, but according to some analysts, it’s not yet time to pop the champagne.

Source: Bitcoin Price Approaching $4,100, but Don’t Get Excited Yet, Analyst Warns – NullTX

Chinese Analysts Say Bitcoin Bear Market Likely to Continue In 2019

Chinese analysts expect the current bitcoin bear market to continue in 2019, contradicting the bullish projections of crypto bulls like Mike Novogratz, who predicts that the bitcoin price will hit record highs this year. “In 2018, bitcoin became an investment black hole,” according to the state-run Beijing News. “Entering 2019, bitcoin prices are still showing signs of decline, and there is no obvious rebound……

For bitcoin’s trend in the new year, pessimism is more dominant.

Source: Chinese Analysts Say Bitcoin Bear Market Likely to Continue In 2019

Binance CEO Predicts A Bitcoin And Crypto ‘Bull Run’ – Billy Bambrough

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Bitcoin and cryptocurrency holders have been waiting all year for the next bull run, hoping the bitcoin price will return to (and even exceed) the near $20,000 price per coin it reached late last year. However, the bitcoin price has been stuck in a downward trend all year—dragging the wider cryptocurrency market with it. The bitcoin price is down some 70% from its peak while the likes of other major cryptocurrencies ripple (XRP) and ethereum are down around 80%……….

Read more: https://www.forbes.com/sites/billybambrough/2018/11/12/binance-ceo-predicts-a-bitcoin-and-crypto-bull-run/#30a7e9313921

 

 

 

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