Bitcoin infighting could be solved like the debt ceiling

According to FX168, the price of Bitcoin fluctuated in the Asian session on Tuesday (January 19), basically maintaining yesterday's rebound.

The quotes released by BITSTAMP show that Bitcoin/ US dollar (XBT/USD) bottomed out below 376 yesterday and then rebounded, rising to around 388 at one point. It fluctuated around 384 in the Asian session of this trading day.

(Bitcoin/USD time-sharing chart source: Bloomberg, FX168 Financial Network)

The quotes released by KRAKEN showed that Bitcoin/ Euro (XBT/EUR) bottomed out below 346 yesterday and then rebounded, rising to 358 at one point. It fluctuated around 354 in the Asian session of this trading day.

(Bitcoin/Euro time-sharing chart source: Bloomberg, FX168 Financial Network)

The quotes released by Huobi.com show that Bitcoin/ CNY hit the bottom at 2500 yesterday and then rebounded to near 2580. It fluctuated around 2555 in the Asian session of this trading day.

(Bitcoin/RMB 30-minute chart source: Huobi.com)

In the industry , after the famous Bitcoin developer Mike Hearn said, "Bitcoin has failed and he has sold all his Bitcoins," Fred Wilson, co-founder of Union Square Venture, wrote that in every investment we make in Bitcoin, we will pay attention to possible problems with Bitcoin. But on the other hand, we will also pay attention to the potential of Bitcoin and the importance of this technology.

Wilson said that Bitcoin has been around for six years and the Bitcoin ecosystem has received a large amount of venture capital . Investment behavior will make the Bitcoin circle return to rationality. This trend is about to appear or is already appearing.

Fred Wilson admitted that at some point this year, the Bitcoin mining industry will diverge. At the same time, we will see new core developers and new rules on how the core developer team makes decisions. However, this may trigger a sharp drop in Bitcoin prices, or even more serious problems.

But Wilson also pointed out that "sometimes, only a crisis can bring everyone together. The US debt ceiling is such a case. The debate over the Bitcoin block size may also be resolved in this way. Therefore, if we are facing a crisis, we should take advantage of the situation. There is no better time than now."

At 13:16 Beijing time on January 19, Bitcoin/USD was 384.86, Bitcoin/Euro was 355.52, and Bitcoin/ RMB was 2555.00.