Cryptocurrency market today

In financial circles, the opinions of specialists regarding the suitability of cryptocurrencies as a means of investment differ radically. Bitcoin, the world's largest cryptocurrency by market capitalization, has many supporters, especially after its value soared to just under $65K in April.

At the same time, since then, this digital asset has been under constant pressure, and today its price fluctuates in the range of $37-40 thousand.

Investment bank Goldman Sachs released a report earlier this week stating that cryptocurrencies are not «viable investments» and bitcoin is not «a long-term store of value or an investment class of assets.» Many other officials share this opinion, including the head of the Bank of England, Andrew Bailey.

However, this opinion contradicts the earlier (May) report of the bank, according to which, «Bitcoin is now considered an investment asset.»

However, most investment managers still take the first point of view. A survey of global fund managers by Bank of America in June showed that 81% of fund managers continue to believe that Bitcoin is still in a bubble. In addition, Danske Bank said it will maintain the ban on trading bitcoins and other cryptocurrencies on its platforms until the cryptocurrency market «matures and becomes more regulated.»