Learn How Trade Crypto
Bitcoin erased Thursday’s 3% gain as PBOC stepped up its crackdown on crypto China strengthened its anti-crypto stance on Friday, torpedoing bitcoin’s two-day winning run. The People’s Bank of China (PBOC) said bitcoin, ether, and stablecoin tether do not qualify as legal tender and cannot be used in the currency market. The central bank declared all virtual […]
The technical charts suggest further downside is likely as sellers react to extreme overbought conditions since March. Bitcoin traded lower on Friday as the price struggled near the $35,000 resistance level. The cryptocurrency was trading around $32,000 at press time and is down about 8% over the past 24 hours. Some analysts expect continued weakness […]
Thiel’s comments about China “weaponizing” bitcoin to hurt the U.S. are a warning about the cost of inaction. The battle over bitcoin’s evolving role just became a piece in a complex game of political strategy. Peter Thiel’s talk earlier this week at a Richard Nixon Foundation event thrust the cryptocurrency even further out onto the geopolitical stage […]
I’ve tried various ways to convince my Dad, a typical Chinese boomer, to allocate part of his hard-earned money into bitcoin, but most of my pitches have failed badly. For thousands of years in feudal society, the Chinese have a natural inclination to believe in authoritarian power, considering political leaders as head of the family. […]
As of this writing, the price of bitcoin is about $19,000 and, at less than 15% of my net worth, the single largest position in my portfolio. In the below paragraphs, I hope to articulate why – contrary to the common narrative – this is not crazy. The core narratives I use to justify my significant […]
While Bitcoin (BTC) has successfully managed to melt the hearts of some of the biggest global investors, a few still continue to criticize it. Billionaire investor Ray Dalio recently showered his criticism on Bitcoin while being positive for central bank digital currencies (CBDCs). Ray Dalio is a big name in the global financial industry and […]
A blockchain infrastructure backed by the Chinese government will open its services to decentralized applications (dapp) developers on a global scale on August 10. The move is part of China’s plan to be the one and only infrastructure provider for blockchain firms across the world. That effort resembles the country’s aggressive international expansion in other major emerging […]
The computer processing power of the bitcoin network is growing again – albeit slowly – as major Chinese miner manufacturers gradually resume business after the coronavirus outbreak delayed shipments. The average hashing power on bitcoin (BTC) over the past seven days has reached a new high of around 117.5 exahashes per second (EH/s), up 5.4 percent from […]
Jason Wu had to cancel a dozen meetings with his crypto clients in China after the coronavirus epidemic broke out this month. “We planned a 10-city tour to talk with potential clients in China,” Wu, the CEO and founder of non-custodial crypto lender DeFiner, said. “Nobody wants to attend any crypto-related conferences or any meetings […]
China may be about to launch a fiat digital currency, but in all likelihood, it will only resemble a cryptocurrency on the surface. And it probably won’t use a blockchain. While inspired to some degree by bitcoin and the like, the effort is explicitly framed as a strategy to beat them back. The project was […]