Risky Business? According to cryptanalyst Scott Melker, the remaining threats to bitcoin are

Leading cryptanalyst, trader and podcast host” Wolves of all streets ” Scott Melker calls out the threat he believes will threaten the future of Bitcoin.

In an interview with Kitco News, Melker discusses the regulatory threats bitcoin (BTC) may face in the near future as the Royal currency becomes potentially too large to avoid government influence.

Melker says Bitcoin will inevitably be the subject of more regulation and control in terms of the type of regulation it will actively face.

 
He said: “I think regulation is necessary and we all know it is inevitable whether it is necessary or not, so I would say the threat is some sort of regulation. The strict rules of regulators who do not actively understand this can be very bad for Bitcoin in the short term.”

The analyst compares the situation to the Chinese mining phenomenon, in which many plants for BTC mining are moved from the country.

“Breaking down the Chinese mining industry can be very bearish, but in the very short term it is only bearish. If you believe in the decentralization of the network and are concerned about China’s influence, this should be seen as a very optimistic long-term perspective… it just depends on which prism and the time period you’re thinking about any of these things.”

Melker says that even if Bitcoin faces strict government regulations around the world, the network will not fail.

“I would say that the extremely strict legislation of several countries can make this very, very difficult. But to be clear, Bitcoin is unstoppable. It can’t be banned.”

Melker also touched on the high-end ethereum smart contract platform (ETH) and the chance to change the market capitalization of bitcoin.

The analyst says that while Ethereum does not believe bitcoin’s price will rise sharply, the ETH network is getting a lot of corporate interest and actual use.

“In the second quarter, Ethereum’s trading volume was higher than bitcoin’s… I’m optimistic about both entities… I don’t think Ethereum will

Join the Discussion

  • BrokerEUR/USD
    ETX Capital 0.6pips (variable) margin: 3.33%
    CMC Markets 0.7pips. (variable) margin: 3.33%
  • Back to top