KEY POINTSIn a blogpost, ECB Director General Ulrich Bindseil and analyst Jürgen Schaff said that bitcoin’s recent price stabilization this week is likely an “artificially induced last gasp before the road to irrelevance.”Bitcoin topped $17,000 on Wednesday, marking a two-week high for the world’s largest digital coin.The remarks are timely, with the crypto industry reeling from one of its most catastrophic failures in recent history: the downfall of FTX.The European Central Bank gave a strong critique of bitcoin on Wednesday, saying the cryptocurrency is on a “road to irrelevance.”In a blogpost titled “Bitcoin’s last stand,” ECB Director General Ulrich Bindseil and analyst Jürgen Schaff said that, for bitcoin’s proponents, the apparent stabilization in its price this week “signals a breather on the way to new heights.”CNBC.com