All DeFi projects are nothing more than Ponzi schemes, says the famous trader Tone Vays. He said this in a live broadcast on ForkLog’s channel.
In his view, regulators have not yet paid close attention to DeFi projects, as the sector has only begun to gain popularity with a broad audience.
“The entire DeFi hype started only this year. In a year’s time, people will realise that DeFi is even greater folly than the ICOs we had in 2017,” said Tone Vays.
The analyst also commented on the possible creation of digital wallets serviced by the Federal Reserve banks by January 1, 2021:
“That’s completely unrealistic. By January 1, 2021 no one will be ready for this, and I don’t think this bill will pass.”
For further growth, the price of Bitcoin would have to rise to $11,500, Vays believes.
In his view, in the longer term the price of the leading cryptocurrency could also be significantly affected by potential problems with Tether in relation to investigation by the New York State Attorney General’s office.
“It seems Bitfinex is losing its grip in this fight. People may quickly want to exit Tether. Probably many will rush to buy Bitcoin. If Tether ‘goes under’, the price of Bitcoin could rise significantly,” the trader noted.
Earlier, Tone Vays said that the absence of tuzemun should anger people enough to start selling Bitcoin. In his view, this will be the catalyst for a rise in the price of the leading cryptocurrency in the future.
Subscribe to Forklog’s channel on YouTube!