It's been a rough week for Bitcoin. The cryptocurrency dropped below $8,000 on Friday, marking the third biggest drop over a five-year span. Bitcoin developer Jimmy Songs explains why he remains bullish. "This is something that has happened in the past, and will happen in the future," says Song. "If you're looking out five to ten years this is an excellent investment." Shares of Bitcoin plummeted after India's Minister of Finance announced plans to ban the digital currency. "Not everyone is fit for it, especially during these down times," said Song.

Share:
More In Technology
Competitive Stock-Trading Mobile App Zingeroo Raises $8.5 Million
There is a new player in the mobile app stock trading space. Zingeroo recently announced a funding round of $8.5 million. The company says it aims to bring 'friendly competition' to stock trading, by literally breaking trading down into daily and weekly competitions between friends. Zingeroo also says it hopes its new approach can make trading more accessible, educational, and social than ever before. Zingeroo co-founder and CEO Zoe Barry joins Cheddar News' Closing Bell for more.
AT&T and Verizon Refuse FAA Request to Pause 5G Service Rollout
As cell carriers AT&T and Verizon planned to roll out nationwide 5G service this week, the FAA and U.S. DOT are asking the companies to pause their plans so more research can be done on the impact 5G has on aircraft technology. The companies are refusing, citing French regulations that limit wireless signals around airports while allowing research to continue. This week's launch wasn't the first time concerns have delayed 5G — last year, Airbus and Boeing express concerns, pushing the deadline into November, December, and then into this year. So what happens now — and what happens next? Will 5G roll out this year as expected? Jon Swartz, Senior Reporter at MarketWatch, joins Cheddar News' Closing Bell to discuss the state of the planned 5G rollout, why the FAA and U.S. Department of Transportation are asking carriers to stall the launch, and more.
Forecast for Crypto in 2022 as Slump Continues into New Year
Tyrone Ross, CEO of Onramp Invest, joins Cheddar News' Closing Bell, where he explains why he believes the current crypto slump is expected to persist and says that investors should be focusing more on Bitcoin's hashrate when it comes to metrics.
Load More