"Wall Street wolf" bitcoin price explodes while cryptocurrency rises above $ 7,000

A notorious Wall Street broker called bitcoin investors "brainwashing" despite constant price increases for cryptocurrency.

Jordan Belfort, whose crimes have formed the plot of the Hollywood movie The Wolf of Wall Street said in a series of interviews to the CNBC that the bitcoin could be useless by the end of the & # 39; year and that will be "the bust heard in the world" when it will happen.

"I was a scammer, to science, and that's exactly what's happening with the bitcoins: the whole thing is so stupid, these guys got brainwashed," Mr Belfort said [19659004] "This thing is about to evaporate like a mirage … people who will be massacred."

Leonardo DiCaprio painted Jordan Belfort in the film of 2013 The Wolf of Wall Street (AP)

But despite these predictions, the price of the most precious cryptocurrency in the world continues to grow. On Tuesday, bitcoin exceeded $ 7,000 for the first time since the beginning of August and continues to exceed this price level.

Earnings also came despite the recent bad news surrounding the cryptocurrency, with the US Securities and Exchange Commission (SEC) rejecting a ruling that could have a major impact on the future of bitcoin.

The ruling refers to an application for a bitcoin exchange-traded fund (ETF), which tracks future contracts on bitcoins. In making its decision, the SEC has raised concerns about fraud and the manipulation of bitcoin markets.

Another proposal for a bitcoin ETF should be decided before September 30th, which is why the price has not been affected.

Cryptocurrency analysts said it would be too early to say whether the recent momentum is the beginning of a recovery of the most prolonged prices, with an investor warning "Do not get me dragged".

Matthew Newton, who works as an analyst at the eToro online investment platform, said: "The reaction to the recent refusal of the ETF has been more subdued than many expected – which is obviously positive. the negative news has not moved the market further down, but for now the sellers could remain without gasoline. "

He added that climbing above $ 7,200" remains challenging ", due to an imbalance between short and long traders currently invested in the cryptocurrency market.

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