In the recent video, popular crypto channel Altcoin Daily shares the recent cryptocurrency news including China’s ban on cryptocurrency transactions, Robert Kiyosaki’s price target, and Willy Woo’s warning to Bitcoin hodlers.
China Bans Cryptocurrency Transactions
The People’s Bank of China (PBOC) on Monday told the country’s major financial institutions to stop facilitating virtual-currency transactions, increasing the negative sentiment in crypto markets.
According to Altcoin Daily, the PBOC says that banks must not provide products or services such as trading, clearing and settlement for crypto transactions.
“The central bank noted the hype surrounding virtual-currency transactions, and identified them as a risk for illegal cross-border transactions and money laundering and a challenge to economic and financial order”.
They adds:
“China rocked the crypto markets. Cryptocurrencies fell after those statements, with bitcoin trading near $32,000 and ether dropping below $2,000 for the first time since May 23”.
Robert Kiyosaki Predicts Bitcoin Dip to $24k
Rich Dad Poor Dad’s Robert Kiyosaki warns of ‘Biggest Crash in World History’ and predicts Bitcoin price would dip down to $24K.
“Biggest bubble in world history getting bigger. Biggest crash in world history coming. Buying more gold and silver. Waiting for bitcoin to drop to $24K. Crashes best time to get rich”, says the writer.
While the famous author expects the price of bitcoin to fall to the $24K level in his most recent tweet, he is bullish about the cryptocurrency in the long run.
As for Altcoin Daily, they also share the same idea, expressing that Bitcoin’s crash is good news.
Willy Woo Prepares for Severe Bitcoin Correction
Besides Kiyosaki, popular statistician Willy Woo also sees more downside for bitcoin. For him, the cryptocurrency is at risk of a severe correction if the stock market crashes on the heels of the renewed strength of the greenback.
“My only concern for downside risk is if we get a major correction in equities which will pull BTC price downwards no matter what the on-chain fundamentals may suggest. Noticing USD strength on the DXY, which suggests some investors moving to safety in the USD”, according to Willy Woo.
According to Woo, if history repeats itself and the stock market takes a nosedive, things could turn soar for bitcoin.
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