Month: April 2021

Tesla Turns Things Round for Bitcoin

Tesla Turns Things Round for Bitcoin

Bitcoin gains after Tesla reports profit from its investment in the cryptocurrency and indicates commitment to the digital asset  Companies looking to boost their balance sheets, especially in the face of lackluster profits during reporting season may show also be looking to Bitcoin for solace After falling to its lowest level in seven weeks on […]

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NFT Fever is Far From Subsiding

NFT Fever is Far From Subsiding

Successful auction by Phillips of a US$4.1 million NFT suggests that there is still appetite for non-fungible tokens in the art world  Bidders on the NFT were also bidders who had in the past bid on physical artwork, suggesting that collectors may be digitizing their tastes just as the world becomes increasingly digital as well  […]

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Technical Trouble for Bitcoin

Technical Trouble for Bitcoin

Bitcoin unable to clear US$60,000 and recent fall suggests that US$50,000 could be tested in the near term, according to technical indicators  Other cryptocurrencies have been less affected by Bitcoin’s most recent slide, suggesting an increasingly sophisticated investor base that is not fixated on a single digital asset Bitcoin is struggling to shake its weekend […]

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Doubling Down on the Digital Yuan

Doubling Down on the Digital Yuan

Biden administration surveying the Chinese digital yuan more closely, as a perceived threat to dollar dominance   Despite being the world’s second largest economy, the Chinese yuan only represents some 2% of global reserve currency, but a shift would require a serious makeover of China’s financial policies and capital controls The Biden administration is stepping up […]

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Dissecting the Weekend Bitcoin Crash

Dissecting the Weekend Bitcoin Crash

Bitcoin’s crash over the weekend now attributed to inaccurate rumors of crackdown on cryptocurrency usage for money laundering by U.S. authorities  More likely that Bitcoin’s crash was due to sudden hash rate fall as a coal-fired power station in Xinjiang that plunged a key cryptocurrency mining region into a blackout  Bitcoin plunged as much as […]

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Abandon All Hope, Bitcoin is Rekkt

Abandon All Hope, Bitcoin is Rekkt

Bitcoin dives sharply on thin volumes in weekend trading but correction is nowhere close to the bigger swings experienced in the past  Crash for Bitcoin may have been due to alleged regulatory action against financial institutions using cryptocurrencies for money laundering, as well as possible run-up in Dogecoin into the weekend being seen as a […]

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What are your really buying with Coinbase?

What are your really buying with Coinbase?

Investors into Coinbase should recognize that the firm’s prospects are intimately tied to cryptocurrencies  Exposure to cryptocurrencies via Coinbase is inefficient, but may be suited to investors who want to avoid the inelegance of handling the underlying digital assets themselves  It’s one thing to list a company when it’s riding high off a single trend, […]

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