Bitcoin Drops $2K as China Declares Cryptocurrency-Related Business Illegal
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.…
Tag: China
Market Wrap: Bitcoin Declines Into the Weekend, as Volatile Month Continues
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…
Crypto Long & Short: Peter Thiel Defines Bitcoin’s Accidental Role in Global Politics
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…
The Rise of the Bitcoin Class
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…
4 Big Reasons Bitcoin Belongs in Your Portfolio
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…
Billionaire Investor Ray Dalio Bets on CBDCs and Gold, Criticizes Bitcoin
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…
China’s Blockchain Infrastructure to Extend Global Reach With Six Public Chains
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…
Bitcoin’s Computing Power Is Growing Again After Coronavirus-Related Disruption
The computer processing power of the bitcoin network is growing again – albeit slowly – as major Chinese miner manufacturers gradually resume business after the…
How Coronavirus Outbreak in China Could Weigh on Crypto Prices
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…
China’s Digital Fiat Wants to Compete With Bitcoin – But It’s Not a Crypto
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…