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China’s push for the digital yuan will boost demand for cryptocurrencies, according to an analyst at BK Asset Management, citing that the Chinese government wants “absolute power” over the wealth and income of its citizens. Digital Yuan Push Could Raise Demand for Crypto Boris Schlossberg, managing director of FX Strategy for BK Asset Management, said … Read more
Derivatives data shows whales aggressively bought the dip as Bitcoin price dropped below $36,000, but that doesn’t mean BTC has bottomed yet. Go to Source Powered by WPeMatico
A recent report from the Chinese government’s financial committee has reiterated the country’s stance on bitcoin mining and that it would continue to monitor the sector closely. The report follows a recent article from Reuters published three days ago, which also reiterates China’s older warnings against the crypto industry. Chinese Government Report Mentions Bitcoin Mining, … Read more
The best efforts of mainstream media to spark another price crash fail as BTC/USD rebounds after a mere 10% drop. Go to Source Powered by WPeMatico
Digital currency markets have been consolidating after taking some heavy losses during the last few days. Billions of dollars have jumped back into the crypto economy on Thursday, as the overall market valuation of all coins in existence has jumped back to $1.75 trillion on Friday. Bitcoin is resting above the $40k handle but the … Read more
Only millionaires will be allowed to trade Bitcoin and cryptocurrencies in Hong Kong if the FSTB proposal is passed by the city’s legislature. Go to Source Powered by WPeMatico
A breakdown of major regulatory announcements in China after latest warning, and a major event at the Shanghai Belagio for the blockchain scene Go to Source Powered by WPeMatico
On Wednesday, the firm Bit Mining Limited, formerly known as 500.com, announced it has entered into a binding investment in a cryptocurrency mining data center located in Texas. The binding investment worth $25 million is with Dory Creek, LLC as the two companies will construct and operate a 57.2 MW mining facility powered by 85% … Read more
While bitcoin prices plummeted this week, the network’s hashrate has also dropped considerably since tapping a high on May 9. Since then, the hashrate has seen swings between 10-15% because of the crypto market downturn, alleged issues with power outages in Sichuan, China, and the upcoming difficulty change. Similar to the Price, Bitcoin Hashrate Sees … Read more
After banning crypto trading in 2017, China is less affected by movements on the crypto market in terms of its blockchain-tied equity market. Go to Source Powered by WPeMatico