Bitcoin positive options, or continued agony

As major miners leave China one after another after various actions on Bitcoin, Galaxy Digital CEO Mike Novogratz said that miners who see migration from China see it as a positive development for BTC.
Novogratz explained at Bloomberg that despite China’s attempt to destabilize bitcoins – such as a mining ban, a leverage ban, and even a bitcoin ban in some places – the original cryptocurrency is still alive and fighting all problems. “Bitcoin still exists and survives in many ways,” he said, adding that the migration of miners from China could be “a big net positive thing for the ecosystem.”
The last few weeks, where the crypto market has experienced high volatility with sharp price drops worldwide, have been an incredibly successful test for the crypto ecosystem as a whole, according to Novogratz. “We had a drop,” Novogratz said, referring to a 65% drop in the price of Bitcoin from all times, adding:
“We did not have protection against sinking, and we did not have lawsuits. The system worked the way it was supposed to work. It is a very robust system that is built in a short time. ”
Speaking about the public perception of the crypto ecosystem, Novogratz singled out Bitcoin as “fighting for its path” as digital gold. Gold has existed for 3,000 years, he recalled, adding: Expecting Bitcoin to be a digital version of gold in the next 3,000 years. Novogratz said he thought “Ethereum is likely to become the second-largest, or perhaps even the largest cryptocurrency one day.”
The U.S. House, Financial Services Committee held a hearing Wednesday for lawmakers and a panel of witnesses to discuss cryptocurrency regulation in the United States. The subcommittee for supervision and investigations called on experts to testify before the congress about the risks and possibilities of blockchain technology. Rep. Brad Sherman (D-MN), a ranked member of House’s financial services board, was not thrilled with the idea of ​​investing in cryptocurrency to save for retirement. His statement is as follows:
“Cryptocurrencies are very volatile, so if one person earns a million dollars and retires at age 45 and nine loses $ 100,000, Coinbase certainly makes money, and if one millionaire goes on TV and says it’s excellent, and nine other investors then dignity will not retire but instead become eligible for Medicaid.