China’s central bank has announced that all transactions of crypto-currencies are illegal, effectively banning digital tokens such as Bitcoin, the BBC reports.
“Virtual currency-related business activities are illegal financial activities,” the People’s Bank of China said, warning it “seriously endangers the safety of people’s assets”.
China is one of the world’s largest crypto-currency markets.
Fluctuations there often impact the global price of crypto-currencies.
The price of Bitcoin fell by more than $2,000 in the wake of the Chinese announcement.
It is the latest in China’s national crackdown on what it sees as a volatile, speculative investment at best – and a way to launder money at worst.
El Salvador’s government has lauded the adoption of bitcoin as legal tender, saying it will be great for the economy.
The Central American country, which is reliant on remittances from Salvadorans abroad for nearly a quarter of gross domestic product (GDP), has become the first in the world to compel merchants and government departments to accept the digital coin. Cash machines that take bitcoin are being erected, taxes can now be paid in the cryptocurrency and the government is offering $30 (€25.30) in bitcoin credit to anyone who downloads the digital Chivo wallet.
But the plan has not gone down well with the public. Some 70 per cent of Salvadorans are opposed to the move, according to a survey by Central American University (CAU). They say they’ll continue using the US dollar, the country’s legal currency for the last 20 years. Most of those surveyed said they want the new law…
Bitcoin is nearing the key $50,000 level as it continues to rise out of a multi-month period of weakness.
The largest cryptocurrency reached as high as $49,704, the highest since May 16, midday Saturday in New York. Its rally is overcoming a rare confluence of technical obstacles, including an April low of about $47,000 and a Fibonacci and Ichimoku cluster between $47,000 and $48,000.
The 61.8 per cent Fibonacci retracement of the April to June downtrend – at $51,000 – still looms as a potential obstacle, along with the round-number $50,000 mark.
“The next major resistance, for now, is at the $50,000 zone,” said Konstantin Anissimov, executive director at CEX.IO crypto exchange. “The recent price rally is not indicative of a massive jump yet, however, should more buyers dive in to push the price above the $50,000 level, a frenzy may be ushered in to steer the price…
Cryptocurrency Bitcoin has risen for the first time above $60,000, continuing its record-breaking run, the BBC reports.
Bitcoin – which has more than tripled in value since the end of last year – has been powered on by well-known companies adopting it as a method of payment.
But some analysts said this latest surge came in part due to the huge US stimulus package approved this week.
Bitcoin’s total market value last month exceeded $1tn.
Bitcoin Loophole is a software made using computer algorithms and trained to make the best cryptocurrency trading decisions.
Bitcoin Loophole Software
Bitcoin Loophole is a software made using computer algorithms and trained to make the best cryptocurrency trading decisions.
Bitcoin Loophole is a software made using computer algorithms and trained to make the best cryptocurrency trading decisions.
London, UK, Dec. 01, 2020 (GLOBE NEWSWIRE) —
As time passes, new techniques of earning money digitally arise. Investors who are interested in making money through cryptocurrency mainly have two types of options. Either they learn how to perform manual trading or they can use automated trading systems which are controlled through robots. And definitely, trading using robots is quite easy and convenient for anyone out there. It is described as one of the easiest and best ways to earn a passive…
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