Bitcoin Failed to Reach New All-Time High in June; VanEck Advisor Blames Market Irresponsibility

BTC-2.62%
According to Gabor Gurbacs, strategic advisor at VanEck and Tether, Bitcoin failed to reach a new all-time high in June due to market dilution by irresponsible actors prioritizing product copying over lasting infrastructure. Bitcoin started June above $70,000 but fell to $58,000 during the month, trading below its previous all-time high of $126,000. Gurbacs argued on X that highly unserious individuals have hijacked a large part of Bitcoin discourse, selling substandard products and stale narratives instead of building long-term beliefs and infrastructure—a structural problem he traces back to the 2017 ICO boom.
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