Beijing's crackdown on cryptocurrency sends bitcoin entrepreneurs moving to the wild wild west.
Bitcoin price has spent roughly two weeks consolidating around a psychological barrier and shows no affinity to move higher or lower. This indecision indicates reduced volatility and that an explosive move is on its way. Read full analysis Pulse Bomber Launched with a Low Market Cap and Big Future Potential Bybit - Could remittances be the next major use-case for cryptocurrencies?
.
DAVID GURA, BYLINE: Republican Cynthia Lummis is a senator from Wyoming, a rancher and a HODLer.
Fiat currency. A fiat currency — such as dollars, euros, pounds, or yen—is a trusted medium of exchange, or legal tender, that is issued by a recognized government or authority. U.S. dollars, for example, are backed by the “full faith and credit” of the United States government.
People considering investing in Bitcoin or shares and stocks have also been warned over "risky" tips being shared on TikTok.
Copyright © 2020 Blockchain Council | Blockchain-council.org. All rights reserved.
Cryptocurrency has come a long way over the last decade, advancing at a lightspeed pace. Value can be stored, transferred and spent in different ways through various assets and solutions, while DeFi has pioneered the way for new borrowing and lending avenues.
While it shares characteristics of both currency and investments, there’s still debate among experts about whether cryptocurrency is clearly one or the other.
Convert crypto to crypto, crypto to fiat, or crypto to precious metals, using our powerful price converter. The most powerful fiat to fiat conversion tool available when traveling!
There's already a meme coin named after Elon Musk's new Twitter handle - and it jumped 825% in its 1st day of trading
Elon Musk’s announcement that Tesla would no longer be accepting Bitcoin as payment on environmental concerns was followed by China issuing a crypto crackdown.
These are just some of the reasons Bitrise crypto coin has hit the $200m market cap so fast. The token has exciting features that are appealing to thousands of crypto investors. With the upcoming staking process and launch of the revenue sharing program, the coin's market cap is projected to jump even higher.
GURA: Davidson also fears too much regulation could harm investors and entrepreneurs, but he thinks inaction is also a risk. Davidson says when he goes back to his district in Ohio, his constituents ask him when Congress is going to get around to setting ground rules.
Although cryptocurrencies like Bitcoin are virtual currencies, they are treated as an asset for capital gains tax purposes, and “ordinary” investors who purchase Bitcoin as an investment will experience a capital gain or loss when they exchange it for traditional currency, products, or services.
Bitcoin’s current rally has been fueled by the U.S. trading debut of a Bitcoin-linked ETF as well as Elon Musk’s weekend Twitter poll, said Ben Caselin, head of research and strategy at crypto exchange AAX. “With Shiba and other memecoins having surged recently, and Facebook’s rebranding to Meta, interest in altcoins continues to rise.”
From a meme coin perspective, DogeZilla appears in a way to throw shade at Dogecoin in the sense that it’s the Godzilla of the meme coin.
But whether that growth is sustainable, and what it means long-term, is still in question. “This crypto, blockchain technology, the public interest in it right now is being driven by a kind of speculative fever,” says Dr. Richard Smith, executive director of the Foundation for the Study of Cycles, a nonprofit organization dedicated to studying recurring patterns throughout economies and cultures.