Crypto narratives sometimes promise a trip to the moon, but not all rockets make it, and markets tend to have a sloppy memory, often falling into the same traps.
Bitcoin appears to be struggling to position itself above $60,000. The world’s largest crypto asset by market cap is yet to recover from the fall earlier this week. As a result, its weekly losses compared to the surge last Friday stand at about 10%. However, its reserves on exchanges hitting new lows for the year
To mitigate risks associated with public blockchain networks, the paper proposed appointing an entity with the authority to “control and limit access” to cryptocurrency assets.