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Without Government backing, the Cryptocurrency Will Struggle to Surge – Jeff Kilburg

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In a wake of regulatory stance on cryptocurrency which is proposed by two congressmen, Bitcoin is finally reached to the rally of $4000.Two financial experts have recently commented on Bitcoin’s upcoming move.

Bitcoin Likely Fall Below $3000 – Jeff Kilburg

In a recent interview, Jeff Kilburg and Jim lurio of TJM institutional service firm talked about the performance of Bitcoin and its recovery. Mr. Kilburg claimed that “without Government backing, cryptocurrency will struggle”. He stated it when Bitcoin was trading at the value of $4026 on Friday which was quite getting to a declining graph and trade below $3000. According to Mr.Kilburg,

“I think it is going to have a hard time staying above $4,000 unless we see something substantial come out of the Securities and Exchange Commission (SEC) – nothing new is putting the wind in the sails right now.”

Following the statement of Kilburg, Mr.lurio joined the rally adding his view, he said that the ‘government is unlikely to welcome the cryptocurrency’. Mr lurio asserted that there are very rare governmental bodies who loves Bitcoin or Crypto and as such we see headlines would be ‘regulating on crypto’. Moreover, he said that ‘he’s never been a lover of Bitcoin’.

When Mr.Kilburgsaid that; Bears have unfinished business [in crypto], and added that the tokens lack the fundamental driver unless there’s no substantial outcome of the SCE.

Moreover, it is quite striking to mentioned Brian Kelly’s prediction of Bitcoin who told CNBC that;

“For me, the bull case and the investment case is that everything that you can say is wrong with bitcoin is going to get fixed. He compared the growth of crypto with the growth of the internet and said;

Mr.Kelly further stated that Bitcoin is getting closer to the bottom and he is not surprised if it does so; He continued that

“It wouldn’t surprise me if we popped down to 2,900 on bitcoin before we bottom. That’s kind of what I’m looking at as the next level.”

What do you think about the regulatory stance on cryptocurrency? Let’s discuss

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