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Bitcoin is "here to stay," says Wall Street Boss in the middle of Crypto Rout

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Bitcoin has had problems recently, lose 40% of its value in just two weeks, as a civil war in the cryptocurrency rival bitcoin cash and fears so long awaited institutional investments will fail to materialize weigh on the investors of bitcoin and cryptocurrency.

Bitcoin problems have led many to doubt the future of cryptocurrencies, although others are confident of bitcoin and his peers will be a soldier, with the president of the New York Stock Exchange (NYSE) Jeff Sprecher among the most optimistic.

Bitcoin and other cryptocurrencies have fallen during this year, leaving some uncertain about their future.Getty

"The answer is unequivocal[[[[digital resources will survive], "Sprecher said at the beginning of this week at the Consensus: Invest in New York conference, it was reported for the first time by CNBC. "As a foreign exchange operator, it is not our purpose to work on prices."

Over the past two days, Bitcoin has risen to the psychological threshold of $ 4,000 after falling to $ 3,600 last week, amid a route that has obliterated billions from the market capitalizations of the world's largest cryptocurrencies, including the XRP of Ripple and Ethereum ether.

The price of bitcoin has dropped by around 80% this year, with a sell-off this month triggered by rival cryptocurrency, bitcoin liquidity, split in two due to developers and miners who have not reached an agreement on his future.

Sprecher, who is the managing director of NYSE's parent company Intercontinental Exchange, has supported the bitcoin and cryptocurrency platform & nbsp; Bakkt, which intends to offer & nbsp; trading on bitcoin futures from the beginning of next year and opening bitcoins and cryptocurrencies to a wider retail market through partnerships with the Starbucks coffee chain and the Microsoft PC giant.

As cryptocurrencies across the board have plummeted this week, bitcoin domination (its total capitalization share of cryptocurrency) has increased over the month, from a low of 51% at the beginning of November to 53% today, emphasizing the constant bitcoin interest for investors and cryptocurrency miners.

The price of bitcoin has moved sharply down this month after months of stagnation.CoinDesk

"Somehow bitcoin lived in a swamp and survived," & nbsp; added Sprecher. "There are thousands of other tokens that you could argue better, but the bitcoin continues to survive, thrive and attract attention.

"Often in finance it is not about being the best: it is about being the broadest and the most commonly accepted and for whatever reason the bitcoin has become so."

Elsewhere, the head of the US Securities and Exchange Commission (SEC) earlier this week warned that a very traded fund for bitcoin exchange (ETF) is "unlikely" anytime soon, inflicting a blow to those who hope that a bitcoin ETF can trigger a bull run next year.

If approved, a bitcoin ETF would mean that people are able to buy in bitcoins without having to contend with clandestine exchanges that often have to do with bulky regulations and lack of public trust.

In August of this year, the SEC rejected nine applications for a bitcoin ETF.

Meanwhile, speaking at the same Sprecher event, Kelly Loeffler, Bakkt's managing director, who marries the NYSE president, said: "We are creating an infrastructure that does not exist today, which we believe is a great opportunity for institutional investors. "

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Bitcoin has had to struggle recently, losing 40% of its value in just two weeks, as a civil war in cryptocurrency and bitcoin cash and fears that long-awaited institutional investments will fail to materialize on bitcoin and cryptocurrency investors.

The troubles of Bitcoin have led many to doubt the future of cryptocurrencies, although others are confident of the bitcoin and his peers will be soldier, with the president of the New York Stock Exchange (NYSE) Jeff Sprecher among the most optimistic.

Bitcoin and other cryptocurrencies have fallen during this year, leaving some uncertain about their future.Getty

"The answer is unequivocal[[[[digital resources will survive]"Sprecher said at the beginning of this week at the Consensus: Invest in New York conference, it was first reported by CNBC." As a foreign exchange operator, it is not our purpose to work on prices. "

Over the past two days, Bitcoin has risen to the psychological threshold of $ 4,000 after falling to $ 3,600 last week, amid a route that has obliterated billions from the market capitalizations of the world's largest cryptocurrencies, including the XRP of Ripple and Ethereum ether.

The price of bitcoin has dropped by around 80% this year, with a sell-off this month triggered by rival cryptocurrency, bitcoin liquidity, split in two due to developers and miners who have not reached an agreement on his future.

Sprecher, who is the managing director of NYSE's parent company Intercontinental Exchange, has supported the bitcoin and cryptocurrency platform Bakkt, which intends to offer future bitcoin exchanges from the start of next year and open bitcoins and cryptocurrencies in a market broader through partnership with the Starbucks coffee shop chain and Microsoft giant PC.

With the collapse of cryptocurrencies across the board this week, the bitcoin domain (its share of the total capitalization of cryptocurrencies) increased during the month, from the lows of 51% at the beginning of November to 53% today, highlighting the constant bitcoin interest for investors and cryptocurrency miners.

The price of bitcoin has moved sharply down this month after months of stagnation.CoinDesk

"Bitcoin somehow lived in a swamp and survived," added Sprecher. "There are thousands of other tokens that you could argue better, but the bitcoin continues to survive, thrive and attract attention.

"Often in finance, it's not about being the best – it's about being the broadest and the most commonly accepted and for whatever reason the bitcoin has become so."

Elsewhere, the head of the US Securities and Exchange Commission (SEC) earlier this week warned that a long-awaited monetary fund (ETF) is "unlikely" at any time, giving a blow to those who hope that an ETCO bitcoin is going to trigger a bull run next year.

If approved, a bitcoin ETF would mean that people are able to buy in bitcoins without having to contend with clandestine exchanges that often have to do with bulky regulations and lack of public trust.

In August of this year, the SEC rejected nine applications for a bitcoin ETF.

Meanwhile, speaking at the same event as Sprecher, Kelly Loeffler, Bakkt's managing director who marries the NYSE president, said: "We are creating that infrastructure that does not exist today, which we think is a great opportunity for institutional investors to enter ".

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