Earlier, we presented a chart indicating how Binance has gone from essentially a non-player in the U.S. crypto market a few quarters ago to now doing significant volume. With the recent hiring of Brian Brooks, who certainly has the connections to tap into the right areas, Binance.US could be set up for a very bright future.
Among those who called it, hedge fund manager Mark Dow wrote almost exactly a year ago about his decision to short bitcoin after future trading on it first began:
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Crypto coins use the process of mining and the resulting blockchain as a physical measure of the currency. This is similar to how Reserve Banks used to have gold reserves that backed their fiat currencies.
DeFi stands for decentralised finance token. They are very complex but essentially aim to disrupt the finance world to enable people to follow and lend in peer-to-peer networks, without needing a bank.
NFTs can be anything digital, and are commonly being used as a way to buy and sell digital art.
The value of cryptocurrency is also driven by scarcity. This alludes to the cryptocurrency’s finite mechanism. The Bitcoin protocol sets the maximum amount of BTC that can be mined at 21 million. Therefore, as more people enter the crypto space, Bitcoin’s scarcity will inevitably increase, causing its price to increase. Some coins also use the burning mechanism to increase their value by destroying a portion of the supply.
The crypto prices today are trading in the red as Bitcoin, as well as the altcoins, have retreated after a strong week of rallies to new all-time highs.
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Three Bitcoin (BTC) on-chain indicators signaling a bullish end of the year Juan Pellicer · 4 days ago · 4 min read
Some cryptocurrencies, like Bitcoin, have a finite number of coins that help to generate demand and reinforce their perceived worth. For example, the maximum supply of Bitcoin is capped at 21 million, as determined by the Bitcoin's creator(s).
Gold has historically always held value. The precious metal isn’t just used as a component of decorative jewellery: it has often been used as a currency and as an investment. Gold-backed cryptocurrencies essentially bring gold to the blockchain.
A lot right now in the U.S. Congress. One way lawmakers propose to pay for the $1 trillion infrastructure bill the Senate approved Tuesday is by imposing tax-reporting requirements for cryptocurrency brokers, the way stockbrokers report their customers’ sales to the IRS.
Now that Bitcoin has reached the channel’s lower trendline, an upswing toward its middle or upper trendline could be underway. These crucial areas of resistance sit at $66,000 and $70,000 respectively.
While fluctuations are expected, Noble says this swing is a bit out of the ordinary. “I thought the market was maturing and these things would be less frequent and severe. Boy was I wrong,” he says.
Like most things with cryptocurrency, regulation comes with hurdles. “There are different agencies that may or may not have jurisdiction to oversee everything,” says Wang. “And it differs state by state.”
Billionaire Elon Musk hasn’t gotten involved yet like he has with Dogecoin and Shiba, but that’s always a possibility.
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