The surge in Bitcoin’s value in recent weeks follows the much anticipated first Bitcoin ETF debuting on the New York Stock Exchange, and a record-breaking October for the stock market in general.
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SAN DIEGO (AP) — A Los Angeles man pleaded guilty Wednesday to participating in what prosecutors called a “textbook Ponzi scheme” that defrauded cryptocurrency investors worldwide of more than $2 billion.
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Dogecoin has added nearly 3 percent over the last day and is priced at $0.28. In the last week, it has climbed over 2 percent.
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The longer term relationship varies over time. After exhibiting strong positive correlation in 2013 (where prices rose), and 2014 (where prices fell for a sustained interval), the longer term relationship between Bitcoin and Litecoin starts to break down around the middle of 2015. It can be seen in the accompanying price plot that at this point the Bitcoin price starts to gradually recover, whereas the Litecoin price does not.
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Under Brooks’ leadership, the OCC began allowing banks to provide cryptocurrency custody services and store cryptographic keys in July 2020. And this January, the OCC first permitted banks to use stablecoins for payments.
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Shiller, R. (1981), “Do stock prices move too much to be justified by subsequent changes in dividends?”, American Economic Review 71 (3), 421–36.
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Dow, the man who first shorted bitcoin, for instance, even mentioned in his initial post that a person can be “simultaneously bullish on blockchain and bearish on bitcoin.” And he just announced that he’s ending his short.
It hasn't yet been recognised by the major cryptocurrency sites such as Coinbase but why did it get so popular?
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