logo logo

The next-generation financial news, and trading signals for you to start driving your FOMO today!


FREE trading signals

Get free daily crypto signals to make profitable trades every day!

View fresh signals


Peter Davis

An writer at FOMOdrive

  • Jun 19, 2023
  • 2 min read

Nothing can stop bitcoin - Jason Pizzino

Monday saw Bitcoin's price take a dive due to the fear, uncertainty, and doubt (FUD) surrounding Binance.

The BTC network saw its commissions reach unprecedented heights.

An analyst of YouTube believes that the Bitcoin rally will not be hindered by any negative news.

Warren Buffett declared that bitcoin has no possibility of becoming the global reserve currency.

Payment applications in Argentina are no longer allowed to facilitate the sale of cryptocurrencies, as mandated by the Central Bank of Argentina.

On Monday, Bitcoin experienced a significant drop, falling below $28,000. This was attributed to rumors of a potential collapse of Binance, the world's largest crypto exchange. Binance had previously suspended the withdrawal of Bitcoin twice due to network congestion.

CryptoQuant reported that users withdrew more than 195,000 BTC from Binance daily (valued at over $5.6 billion). Furthermore, Bloomberg reported that the US Department of Justice initiated an investigation into the exchange, suspecting it of breaching sanctions against the Russian Federation.

On May 8, the commissions in the Bitcoin network hit an all-time high. Block 788762 was the record-setter of the day, with a fee of $15,834. The BTC network can only process around 7 transactions per second, which is why queues form when there are a lot of active users. This inability to quickly confirm payments is why the transaction fee in some cases exceeded $10,000.

According to YouTube analyst Jason Pizzino, despite a strong bearish signal that failed to push Bitcoin to $20,000 in early March, the bad news will not be able to stop the cryptocurrency's rally. Pizzino believes that BTC should soon be trading in the range of $32,000 to $42,000.

Validus Power states that investing in bitcoin, gold and real estate can protect investors from any losses that may be caused by a banking crisis.

The Prime Minister of Liechtenstein has announced that citizens of the country will be able to pay for public services using Bitcoin. He also did not rule out the possibility of the state investing a portion of its reserves in the cryptocurrency.

Warren Buffett, the renowned investor and CEO of Berkshire Hathaway, has stated that a lack of faith in the US dollar does not necessarily mean that Bitcoin will become the global reserve currency.

The Central Bank of Argentina has prohibited the utilization of cryptocurrencies through payment applications in order to reduce the potential financial risks associated with digital asset transactions.

Share this article