Global market crash is rattling these past days, but according to Paolo Ardoino, the Bitfinex CTO, there will always be an improvement in the worth of Bitcoin. The failure in the comprehensive central bank policies is due to the outbreak of coronavirus. The European Central’s Bank has responded to this outbreak as a “disappointing” occurrence.
Although this occurrence is a disappointing one, the chief technology officer (CTO) of Bitfinex, Paolo Ardoino says that the value of Bitcoin will always be on the rise despite the current market crash due to coronavirus.
Global market crash leads to this disappointing experience
It was shown from a press release that was shared with CryptoGlobe that Bitfinex CTO is very confident about the improvement of the Bitcoin value. He affirmed that Bitcoin would be a beneficial asset in the future, no matter the changes in the global central bank policies.
There is a substantial negative impact (up to 26%) on the price of Bitcoin after a week, thereby wiping out the profits of the traders over the last year. The European Central Bank tagged this occurrence as “disappointing” because it creates several losses in Europe’s Stock market.
Ardoino said,
Although Bitcoin critics will cause up to 20% slash in today’s market, a day’s crash will not make one fall. In the future, bitcoin will prove its worth and display its genuine value no matter the problem it is facing now.
Use of Bitcoin successful worldwide
Ardoino also highlighted that the policies endorsed by global central banks to create an alternative for the use of Bitcoin would inevitably fail. This is because the use of Bitcoin is becoming successful throughout the world from central banks. With time, this metal will prove its worth.
Lastly, he commented on the massive global market crash that is affecting cryptocurrency exchanges, and this does not exclude Bitfinex. What caused this is some technical problems, and Bitfinex is working well in many volatile markets.
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