The cryptocurrency market is still young and relatively small. Therefore, on its upward or downward movements, minor events or statements of individual persons may influence the first sight. One such person is the head of the International Monetary Fund, Christine Lagarde. Recently she wrote about the benefits of cryptocurrency in her blog on the IMF website.
In her opinion, out of 1,500 existing cryptocurrencies in the future will remain only few ones. Those who can survive in this struggle will change existing ideas about savings, investments and transactions. Therefore, politicians must develop a fair-basis regulatory framework, minimizing risks, but not hampering the development of cryptocurrencies.
What does this mean for the cryptocurrency market? It would seem that the official just spoke about them positively - how many such statements were made by various representatives of state bodies of different countries or international organizations. But here we must remember that Lagarde talked about cryptocurrencies before, and what it led to.
For example, about a month ago, Lagarde wrote about the negative sides of cryptocurrencies, primarily regarding money laundering and the financing of terrorism. Then this statement led to a drop in the market. Perhaps changing the perspective of Lagarde will lead to positive changes.