The blockchain/crypto week in quotes

“When it comes to investor protection, the Investor Education and Protection Fund (IEPFA) has to take a stand against certain things. Against ponzi schemes, we are taking a stand. We think that cryptocurrency is a ponzi scheme and it should be banned.” IEPFA CEO Anurag Agarwal

“Bitcoin is volatile, but every time people think it’s dead, it goes up a little.” Gene Simmons, co-founder and frontman of 70s rock band Kiss

“After learning about crypto, I knew I had to make it a part of our business. It’s a no-brainer to sign up with TravelbyBit. I am very excited that we are going to be the first to adopt BNB payments at Point of Sale, following the launch of the new Binance Chain.” Origin Kebabs General Manager Burhan Göktas

“The stars are aligning for a Bitcoin bull run. The short-term moving average for the price of Bitcoin has finally moved above the longer-term average, which is often referred to as a Golden Cross, so investors are starting to believe that we might just be approaching a new phase for the price of Bitcoin.

Hitting the $6,000 mark shouldn’t be the focus though, the real question is whether we carry on above $6,000. Previously $6,000 has been a major support level, so it’s likely we’ll see a bit of a sell-off if $6,000 is reached, however if that sell-off is overcome, and the price remains consistently above $6,000, there would be some serious momentum and belief that we could see the price carry on rising over the next year to around 60-70% of the all-time high.” Simon Peters, Analyst, eToro

“What is preventing the banking industry from rushing into blockchain technology adoption? I think it’s mostly culture. I think the tipping point is about having an entrepreneurial culture, a willingness to push people to keep asking why.” Emmanuel Aidoo, Head of Digital Market Assets, Credit Suisse

“I have been totally blindsided by this, really, really let down by Spotware.” Digitex Futures boss Adam Todd

“It is clear that the $6,000 level in Bitcoin is a key price point to overcome in order for this recent strength to be maintained, as this is the price that acted as significant support for a number of weeks in latter part of 2018. Breaking below it was a watershed moment that then saw the price fall off a cliff down to $3,100 in December as the ‘crypto winter’ was at its height.

As Bitcoin edges back up, that previous $6,000 support level has now turned into resistance and is now firmly in the spotlight. A move back above here will bring the $10,000 level back in focus. I think breaking through it on its first attempt anytime this month is unlikely. What is most likely to happen is that it will test $6,000, fail and head back down back towards $4,000. I would expect the price to break through $6,000 on any second or third attempt and from there the aim would be to get back to $10,000.

The fact that we are even seriously discussing these price levels as a possibility at this time shows how sentiment has significantly shifted to become more positive. As digital asset prices rise, the sector will come under the spotlight more and we expect a greater number of exciting investment opportunities to present themselves, providing KR1 with more projects to scrutinise and assess along with the current ones we are invested in.” George McDonaugh, CEO, KR1

“The fundamentals of Bitcoin, and cryptocurrencies more generally, are stronger than ever. It’s still too early to accurately say that Bitcoin is now in bull market territory, but the evidence for this trend is increasing day by day. Once the $6,000 level is reached it will set the positive direction of travel for the rest of 2019.” Nigel Green, CEO, deVere Group

“There will only be a handful of cryptocurrency winners…These winners would obviously win big.” Gavin Brown, Co-founder & Director, Blockchain Capital