Weekend Crypto Roundup: Bitcoin’s Scarcity, Dogecoin’s Resistance, Tether’s Rating, Trump’s Crypto Ties And Peter Schiff’s Warning
The past week was a rollercoaster ride in the world of cryptocurrencies. From Bitcoin’s scarcity debate to Dogecoin’s resistance level, the crypto market was buzzing with activity.
Tether’s CEO slammed traditional rating agencies, while Trump’s crypto ties came under fire from House Democrats. Meanwhile, Peter Schiff warned about the viability of Bitcoin and Ethereum treasury companies.
Let’s dive into the details.
Bitcoin’s Scarcity Thesis Defended
Willy Woo, a cryptocurrency analyst, defended Bitcoin’s scarcity thesis, arguing that its price appreciation over the years is a testament to its demand. Woo’s comments came in response to Matteo Pellegrini, CEO of the Bitcoin-focused social networking app Club Orange, who argued that Bitcoin is not scarce but finite. Woo maintained that scarcity is defined by a “limited supply relative to demand,” a condition Bitcoin fulfills.
Dogecoin’s ‘Third-Wave’ Deadlock
Dogecoin experienced a pullback on the Thanksgiving holiday, alongside a sharp decline in …
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