🚨Influencers who have been caught being involved in scams or pump and dumps.
1. TechLead - Million MM Token
2. Upshod - UpCoin
3. Ian Balina - Shilling scam coins
4. FaZe Kay (and other Faze members) - Save the Kids
5. Floyd Mayweather, Kim Kardashian - EthereumMax
6. Logan Paul - DinkDoink
7. Kai Greene - Shiba Inu Token
8. Bitboy Crypto - Various pump and dumps
9. CryptoWendyO - Many pump and dumps/shilling scam coins
10. Simon Dedic - Pump and dump/Paid reviews with scam coins
📝 I think it’s important to create awareness for the newer investors to prevent them from becoming a victim of a malicious scheme.
📄 New investors, steer clear from influencers and the schemes that they promote. Your wallet and future wealth will thank you.
📰 We will continue updating these lists with more influencers.
1. TechLead - Million MM Token
2. Upshod - UpCoin
3. Ian Balina - Shilling scam coins
4. FaZe Kay (and other Faze members) - Save the Kids
5. Floyd Mayweather, Kim Kardashian - EthereumMax
6. Logan Paul - DinkDoink
7. Kai Greene - Shiba Inu Token
8. Bitboy Crypto - Various pump and dumps
9. CryptoWendyO - Many pump and dumps/shilling scam coins
10. Simon Dedic - Pump and dump/Paid reviews with scam coins
📝 I think it’s important to create awareness for the newer investors to prevent them from becoming a victim of a malicious scheme.
📄 New investors, steer clear from influencers and the schemes that they promote. Your wallet and future wealth will thank you.
📰 We will continue updating these lists with more influencers.
#PayPal launches #crypto buying and selling in the #UK
Crypto Market Thoughts on 23.08.2021
Bitcoin continued to rise over the weekend, hitting a high of 50399 on the Binance exchange and is likely to go higher. At the time of writing this review, the main cryptocurrency is trading at around 50,280 with a dominance index of 43.9%. Total crypto market capitalization stands at $2.1 Trillion.
Stock markets opened higher. At the moment, futures for the S&P 500 are in positive territory and added 0.36%. Asian indices are trading in different directions. Gold, silver and oil are on the rise.
On the cryptomarket, Bitcoin broke through support at 50K and went higher, altcoins followed, Ethereum is already above 3300, and Cardano (ADA) updated it's all-time high at levels above $2.8 and moved into 3rd place in terms of capitalization.
We have been talking about the 50K number since the beginning of June and I hope that many did not develop weak hands, but bought the bottom and are waiting for a new high.
Within the media this week there will be a lot of positivity and with each new update of local highs, the crowd will more and more FOMO in, which will inevitably cover the market when Bitcoin fixes above 55K and those who sold at 30 will soon buy it above 60.
Today;s expectation, Bitcoin in the range 48000-52000. Leaving below 48K is an alternative, in which case we can drop to 46K.
Now to some news, PayPal Holdings Inc will allow customers in the UK to buy, sell and hold bitcoin and other cryptocurrencies starting this week. The roll-out, which marks the first international expansion of PayPal's cryptocurrencies services outside of the United States, could inspire further mainstream adoption of the new asset class.
With over 403 million active accounts globally, the San Jose, California-based company is one of the largest mainstream financial companies to offer consumers access to cryptocurrencies.
The company hoped its foray into the new asset class would encourage global use of virtual coins and prepare its network for new digital currencies that may be developed by corporations and central banks.
"We are committed to continue working closely with regulators in the UK, and around the world, to offer our support— and meaningfully contribute to shaping the role #digital currencies will play in the future of global finance and commerce," Jose Fernandez da Ponte, vice president and general manager for blockchain, crypto and digital currencies at PayPal, said in a statement. Source : Reuters.
Wishing you a great day ahead, remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
Crypto Market Thoughts on 23.08.2021
Bitcoin continued to rise over the weekend, hitting a high of 50399 on the Binance exchange and is likely to go higher. At the time of writing this review, the main cryptocurrency is trading at around 50,280 with a dominance index of 43.9%. Total crypto market capitalization stands at $2.1 Trillion.
Stock markets opened higher. At the moment, futures for the S&P 500 are in positive territory and added 0.36%. Asian indices are trading in different directions. Gold, silver and oil are on the rise.
On the cryptomarket, Bitcoin broke through support at 50K and went higher, altcoins followed, Ethereum is already above 3300, and Cardano (ADA) updated it's all-time high at levels above $2.8 and moved into 3rd place in terms of capitalization.
We have been talking about the 50K number since the beginning of June and I hope that many did not develop weak hands, but bought the bottom and are waiting for a new high.
Within the media this week there will be a lot of positivity and with each new update of local highs, the crowd will more and more FOMO in, which will inevitably cover the market when Bitcoin fixes above 55K and those who sold at 30 will soon buy it above 60.
Today;s expectation, Bitcoin in the range 48000-52000. Leaving below 48K is an alternative, in which case we can drop to 46K.
Now to some news, PayPal Holdings Inc will allow customers in the UK to buy, sell and hold bitcoin and other cryptocurrencies starting this week. The roll-out, which marks the first international expansion of PayPal's cryptocurrencies services outside of the United States, could inspire further mainstream adoption of the new asset class.
With over 403 million active accounts globally, the San Jose, California-based company is one of the largest mainstream financial companies to offer consumers access to cryptocurrencies.
The company hoped its foray into the new asset class would encourage global use of virtual coins and prepare its network for new digital currencies that may be developed by corporations and central banks.
"We are committed to continue working closely with regulators in the UK, and around the world, to offer our support— and meaningfully contribute to shaping the role #digital currencies will play in the future of global finance and commerce," Jose Fernandez da Ponte, vice president and general manager for blockchain, crypto and digital currencies at PayPal, said in a statement. Source : Reuters.
Wishing you a great day ahead, remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
Multinational Payments Giant Visa Purchases Cryptopunk NFT for $165K in #Ether, #Iran Lifts #Bitcoin Mining Ban and Publishing Platform #Substack to Accept Onchain, Lightning Network #Bitcoin #Payments via #Opennode.
Cryptomarket Thoughts on 24.08.2021.
Bitcoin moved within the 50500-48700 range during the day corrections below 48K are quickly redeemed and at the time of this writing, Bitcoin is trading at 49,500. Total Cryptomarket capitalization is at $2.1 Trillion with a BTC dominance index of 43.4%.
#Stockmarkets ended Monday trading higher. The Dow Jones climbed 0.61%, the S&P 500 rose 0.85%, and the NASDAQ climbed 1.55%. Gold Futures for December delivery was up 1.29% to 1.807.00 a troy ounce. The dollar index dropped 0.53% to 93.013.
On the cryptomarket, the priority version of yesterday's analysis worked out. Bitcoin remained in the indicated range, but could not stay above 50K and began its decline, to a price of 48776 registered on the Binance Exchange.
If today we can hold above 48K, then most likely we will once again try the 50K resistance level for strength and then retest 50500. Going below 48K will return us to the 47-46K levels.
Some Interesting news, Iran will lift the ban on Bitcoin mining in September, nonetheless experts have warned dealers against unwittingly breaking US sanctions by trading in digital assets created in Iran. Iran turned to mining cryptocurrencies to skirt US sanctions that have effectively shut large parts of its economy. Tehran was responsible for about 4.5 per cent of all cryptocurrency mining globally but the government banned the practice for four months in May because computers used in the process were sapping too much electricity, leading to power cuts during the exceptionally hot and dry summer. Source: thenationalnews.com
#Visa buys an NFT-based 'CryptoPunk' avatar for $150,000 "This is just the beginning of our work in this space," Visa's head of crypto says. Visa is purchased CryptoPunk 7610, an NFT-based digital avatar, the payments company said Monday. CNBC reported that Visa paid around $150,000 in Ethereum. #Ethereum is a cryptocurrency that made its debut in 2015. An NFT is a unique digital token, with most using the Ethereum blockchain to digitally record transactions. A digital asset, such as an image, video or tweet, is tied to the token. The technology began in 2015 when unique tokens were created for the Ethereum blockchain, but they became hugely popular in February. Source: CNET
Lastly #Substack publishing platform now accepts payments in bitcoins. On Monday, the publishing platform Substack revealed the company is now accepting bitcoin payments. Substack will be working with the payment processor Opennode and the publishing platform will leverage the Lightning Network and onchain payments. “Our partnership will allow content creators across the Substack ecosystem to accept bitcoin payments, and retain earnings in bitcoin or convert to preferred currency. Writers and podcasters have flocked to Substack to regain creative and financial freedom, and bitcoin is a natural fit,” João Almeida, the co-founder and CTO at Opennode concluded during the announcement. Source:news.bitcoin.com/
Wishing you a great day ahead, remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
Cryptomarket Thoughts on 24.08.2021.
Bitcoin moved within the 50500-48700 range during the day corrections below 48K are quickly redeemed and at the time of this writing, Bitcoin is trading at 49,500. Total Cryptomarket capitalization is at $2.1 Trillion with a BTC dominance index of 43.4%.
#Stockmarkets ended Monday trading higher. The Dow Jones climbed 0.61%, the S&P 500 rose 0.85%, and the NASDAQ climbed 1.55%. Gold Futures for December delivery was up 1.29% to 1.807.00 a troy ounce. The dollar index dropped 0.53% to 93.013.
On the cryptomarket, the priority version of yesterday's analysis worked out. Bitcoin remained in the indicated range, but could not stay above 50K and began its decline, to a price of 48776 registered on the Binance Exchange.
If today we can hold above 48K, then most likely we will once again try the 50K resistance level for strength and then retest 50500. Going below 48K will return us to the 47-46K levels.
Some Interesting news, Iran will lift the ban on Bitcoin mining in September, nonetheless experts have warned dealers against unwittingly breaking US sanctions by trading in digital assets created in Iran. Iran turned to mining cryptocurrencies to skirt US sanctions that have effectively shut large parts of its economy. Tehran was responsible for about 4.5 per cent of all cryptocurrency mining globally but the government banned the practice for four months in May because computers used in the process were sapping too much electricity, leading to power cuts during the exceptionally hot and dry summer. Source: thenationalnews.com
#Visa buys an NFT-based 'CryptoPunk' avatar for $150,000 "This is just the beginning of our work in this space," Visa's head of crypto says. Visa is purchased CryptoPunk 7610, an NFT-based digital avatar, the payments company said Monday. CNBC reported that Visa paid around $150,000 in Ethereum. #Ethereum is a cryptocurrency that made its debut in 2015. An NFT is a unique digital token, with most using the Ethereum blockchain to digitally record transactions. A digital asset, such as an image, video or tweet, is tied to the token. The technology began in 2015 when unique tokens were created for the Ethereum blockchain, but they became hugely popular in February. Source: CNET
Lastly #Substack publishing platform now accepts payments in bitcoins. On Monday, the publishing platform Substack revealed the company is now accepting bitcoin payments. Substack will be working with the payment processor Opennode and the publishing platform will leverage the Lightning Network and onchain payments. “Our partnership will allow content creators across the Substack ecosystem to accept bitcoin payments, and retain earnings in bitcoin or convert to preferred currency. Writers and podcasters have flocked to Substack to regain creative and financial freedom, and bitcoin is a natural fit,” João Almeida, the co-founder and CTO at Opennode concluded during the announcement. Source:news.bitcoin.com/
Wishing you a great day ahead, remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
#Europe prepares for first #Bitcoin Futures Launch Amid US #ETF Stalemate as Infrastructure bill set for a vote by Sept. 27 With No Changes to Crypto Tax Provisions
Thoughts on the Cryptomarket 25.08. 2021
Yesterday #Bitcoin lost support at 49K during the day and moved to a decline, to a price of 47600 on the #Binance Exchange, this correction is gradually being redeemed and now we are trading at about 48100 with a dominance index 43.9%. Total Crypto Market capitalization seats at $2.057 Trillion.
Stock markets ended Monday trading higher. The Dow Jones rose 0.09%, the S&P 500 rose 0.15%, and the NASDAQ rose 0.52%. The volatility index rose 0.41% to 17.22. Gold and silver dipped slightly. The dollar index dropped 0.09% to 92.888.
On the 3cryptomarket, the variant with the price dropping below 48K worked out, although yesterday there were all chances to turn out above 50 and break through the important resistance at 51K. Even Michael Saylor did not help the market, Coming with a big announcement that MicroStrategy bought 3907 BTC for about $177 million, it is not a bad thing either.
I already wrote that the market now needs a rest and it would be good to go even lower in order to get healthy and targeted growth in the future, we have grown too quickly and we need to throw off weak hands. Otherwise, everything is going according to plan, and now it is important to gain strength and break through the decisive resistance at 51K. This area is the last obstacle before a big breakthrough to the all-time high.
Plan for today. If we can return and gain a foothold above 48300-48500, then we will go to 49 and even 50K. If we do not return the 48K level, then we will go to 46K.
To some news, #Europe is gearing up to launch its first bitcoin futures amid US ETF deadlock. Europe’s first-ever Bitcoin (BTC) futures will launch next month on the continent’s largest derivatives market, #Eurex, an announcement confirms. In a press release issued on Tuesday, digital asset-backed securities provider ETC Group said that its Bitcoin ETN Futures product will commence trading on Sept. 13. There is no sign of an ETF launch approval in the U.S. as yet, with Europe soon to see a pioneering Bitcoin futures product. Source: cointelegraph.com
Lastly, the infrastructure bill has been put to a vote until September 27 with no changes to the provisions on taxes on cryptocurrency. Commenting on the lack of amendments to the infrastructure bill, executive director of The Blockchain Association, Kristin Smith, described the events as “unfortunate but unsurprising.” “However, this is not the end of the process,” she stated, adding: “The Blockchain Association, our 46 member companies and the newly-energized, nationwide crypto community will rededicate our energy to supporting technology-neutral, pro-crypto legislation and regulation — on this specific tax issue as well as broader crypto policy.”
Source: cointelegraph.com
Wishing you a great day ahead, remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
Thoughts on the Cryptomarket 25.08. 2021
Yesterday #Bitcoin lost support at 49K during the day and moved to a decline, to a price of 47600 on the #Binance Exchange, this correction is gradually being redeemed and now we are trading at about 48100 with a dominance index 43.9%. Total Crypto Market capitalization seats at $2.057 Trillion.
Stock markets ended Monday trading higher. The Dow Jones rose 0.09%, the S&P 500 rose 0.15%, and the NASDAQ rose 0.52%. The volatility index rose 0.41% to 17.22. Gold and silver dipped slightly. The dollar index dropped 0.09% to 92.888.
On the 3cryptomarket, the variant with the price dropping below 48K worked out, although yesterday there were all chances to turn out above 50 and break through the important resistance at 51K. Even Michael Saylor did not help the market, Coming with a big announcement that MicroStrategy bought 3907 BTC for about $177 million, it is not a bad thing either.
I already wrote that the market now needs a rest and it would be good to go even lower in order to get healthy and targeted growth in the future, we have grown too quickly and we need to throw off weak hands. Otherwise, everything is going according to plan, and now it is important to gain strength and break through the decisive resistance at 51K. This area is the last obstacle before a big breakthrough to the all-time high.
Plan for today. If we can return and gain a foothold above 48300-48500, then we will go to 49 and even 50K. If we do not return the 48K level, then we will go to 46K.
To some news, #Europe is gearing up to launch its first bitcoin futures amid US ETF deadlock. Europe’s first-ever Bitcoin (BTC) futures will launch next month on the continent’s largest derivatives market, #Eurex, an announcement confirms. In a press release issued on Tuesday, digital asset-backed securities provider ETC Group said that its Bitcoin ETN Futures product will commence trading on Sept. 13. There is no sign of an ETF launch approval in the U.S. as yet, with Europe soon to see a pioneering Bitcoin futures product. Source: cointelegraph.com
Lastly, the infrastructure bill has been put to a vote until September 27 with no changes to the provisions on taxes on cryptocurrency. Commenting on the lack of amendments to the infrastructure bill, executive director of The Blockchain Association, Kristin Smith, described the events as “unfortunate but unsurprising.” “However, this is not the end of the process,” she stated, adding: “The Blockchain Association, our 46 member companies and the newly-energized, nationwide crypto community will rededicate our energy to supporting technology-neutral, pro-crypto legislation and regulation — on this specific tax issue as well as broader crypto policy.”
Source: cointelegraph.com
Wishing you a great day ahead, remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
11% Of Young Americans have Invested Their #Stimulus Cheques Into #Crypto: Survey as #US Commits to Passing Crypto #Tax Infrastructure Bill by Sept 27.
Thoughts on the #Cryptomarket 26.08. 2021
#Bitcoin moved in the range of 49260-47120 during the day, with several attempts to gain a foothold above 49K, but did not yet succeed, and at the time of writing the review, the main cryptocurrency is trading around 47,162. Dominance index is at 44.0% and total Crypto Market capitalization of $2.04 Trillion.
Equity markets closed with growth on Wednesday. The Dow Jones rose 0.11%, the S&P 500 rose 0.22%, and the NASDAQ rose 0.15%. Gold and silver dipped slightly, oil continues to rise. The dollar index dropped 0.07% to 92.838.
Bitcoin yesterday could not hold above 48K and began to decline, the local minimum to which the price of 47126 at the Binance Exchange bounced from this level and rose above 49K, after which it returned below 48K again, where we are trading at the moment.
Yesterday #cnbc reported that the US treasury will not target non brokers even without crypto tax amendment. As part of the $1 trillion infrastructure bill, will not extend the requirements for tax reporting for those industry players who cannot comply with them, and these are miners, developers, etc. This is a good signal and we mentioned (https://t.me/decryptedge/683) that this law should not be given much importance , the market is already strong and can resolve its own issues.
American banking giant #Citigroup plans to start trading bitcoin futures on the Chicago Mercantile Exchange (CME), and this is the entry into the crypto market of new institutional clients, which will push the price to new highs.
Plan for today. Bitcoin is in the range of 46000-50000, an alternative option is going below 46, in which case we can go to 45-44K.
Lastly, a new study found that one in ten American citizens between the ages of 18 and 34 have invested some of their Covid-19 incentive checks in crypto assets. Conducted by CNBC and research firm Momentive, the survey queried 5,530 adults and found that 11% of survey participants had purchased cryptocurrency with their stimulus money.
Roughly half of the respondents were found to have funneled their stimulus money into investments broadly — with 15% seeking exposure to stocks, 9% investing in mutual funds, and 6% backing exchange-traded funds (#ETFs). Source Cointelegraph.
Wishing you a great day ahead, remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
Thoughts on the #Cryptomarket 26.08. 2021
#Bitcoin moved in the range of 49260-47120 during the day, with several attempts to gain a foothold above 49K, but did not yet succeed, and at the time of writing the review, the main cryptocurrency is trading around 47,162. Dominance index is at 44.0% and total Crypto Market capitalization of $2.04 Trillion.
Equity markets closed with growth on Wednesday. The Dow Jones rose 0.11%, the S&P 500 rose 0.22%, and the NASDAQ rose 0.15%. Gold and silver dipped slightly, oil continues to rise. The dollar index dropped 0.07% to 92.838.
Bitcoin yesterday could not hold above 48K and began to decline, the local minimum to which the price of 47126 at the Binance Exchange bounced from this level and rose above 49K, after which it returned below 48K again, where we are trading at the moment.
Yesterday #cnbc reported that the US treasury will not target non brokers even without crypto tax amendment. As part of the $1 trillion infrastructure bill, will not extend the requirements for tax reporting for those industry players who cannot comply with them, and these are miners, developers, etc. This is a good signal and we mentioned (https://t.me/decryptedge/683) that this law should not be given much importance , the market is already strong and can resolve its own issues.
American banking giant #Citigroup plans to start trading bitcoin futures on the Chicago Mercantile Exchange (CME), and this is the entry into the crypto market of new institutional clients, which will push the price to new highs.
Plan for today. Bitcoin is in the range of 46000-50000, an alternative option is going below 46, in which case we can go to 45-44K.
Lastly, a new study found that one in ten American citizens between the ages of 18 and 34 have invested some of their Covid-19 incentive checks in crypto assets. Conducted by CNBC and research firm Momentive, the survey queried 5,530 adults and found that 11% of survey participants had purchased cryptocurrency with their stimulus money.
Roughly half of the respondents were found to have funneled their stimulus money into investments broadly — with 15% seeking exposure to stocks, 9% investing in mutual funds, and 6% backing exchange-traded funds (#ETFs). Source Cointelegraph.
Wishing you a great day ahead, remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
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US Senate Rejects Change To New Crypto Tax Rules In $1.2 Trillion Infrastructure Bill Despite Lawmaker, Billionaire Pushback. Closing The #Crypto “#Tax #Gap”
Crypto Market Thoughts 11.08.2021.
During the last 24hrs, Bitcoin moved within the range of…
Crypto Market Thoughts 11.08.2021.
During the last 24hrs, Bitcoin moved within the range of…
#Coinbase Hires Former #Facebook exec as Chief Marketing Officer, 5-Star Hotel in #Swiss Alps Starts Accepting #Bitcoin and #Ethereum, as #MorganStanley Discloses Owning 755 #BTC .
Yesterday, Bitcoin moved in the 49350-46250 range. At the time of writing this review, the main cryptocurrency has since recovered and is trading at around $47,158 with a dominance index of 44.2%. Total Crypto Market capitalization seats at $1.9 Trillion.
Equity markets closed lower on Thursday. The Dow Jones fell 0.54%, the S&P 500 lost 0.58%, and the NASDAQ lost 0.64%. Gold and silver rose slightly in price. The dollar index rose 0.25% to 93.067.
On the cryptomarket, everything is according to plan, Bitcoin clearly worked out yesterday's analysis and moved in the designated range. Going to a low price of 46250 on the #Binance exchange and I think that today we will continue the downward movement. We need to unload and do this, preferably at levels 44-42K or even lower, in order to catch up with the hamsters of horror and fear.
The capitalization of the entire market fell below $2 Trillion, altcoins are flying after the main cryptocurrency from the top, only Solana (SOL) is growing, which a few hours ago showed a new ATN for almost 84 dollars.
Plan for today. Bitcoin is in the range of 44000-49000, an alternative option is going below 44K, in which case we can go to 42K.
To some news, the largest bank Morgan Stanley has increased its position in the Grayscale bitcoin trust to 928,051 GBTC shares, with a valuation of over $ 27 million. This news came via a tweet showing major disclosures in a SEC filing reporting MS owning a large amount of Grayscale Bitcoin across multiple portfolios. The largest of these appears to be 928,051 shares held by Morgan's Insight Fund. One follower on the tweet thread wrote: Morgan Stanley "The Adviser seeks long-term capital appreciation by investing primarily in established and emerging companies." LL&P (Live Long & Prosper) #Bitcoin. I tend to agree with him.
Coinbase hires former Facebook CEO Keith Roach as Chief Marketing Officer. As reported by @Cointelegraph Coinbase chief operating officer Emilie Choi said the company had hired Rouch as its new chief marketing officer, responsible for overseeing the exchange’s global brand, as well as product and performance marketing. Until recently, she was the global head of brand and product marketing at social media giant Facebook, but now aims “to bring millions more people into the #cryptoeconomy.”
Lastly the five-star Chedi Andermatt hotel in the Swiss Alps begins accepting payments in bitcoin and ethereum. The hotel has 123 lavish suites with Hästens boxspring beds. It also offers a Michelin-starred Japanese restaurant, saunas, yoga classes and a fitness center.
When it comes to outdoor activities, the hotel boasts its own golf course, sports center and other facilities. Given that the price of a double room starts from 500 francs ($544), the hotel has made a wise move by catering to the growing number of crypto millionaires.
This was not a spontaneous decision. The hotel has been mulling over accepting cryptocurrencies for four years. As reported by U.Today, the restaurant group of American billionaires announced that restaurant group Landry's would start accepting Bitcoin back in April.
Wishing you a great day ahead, remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
Yesterday, Bitcoin moved in the 49350-46250 range. At the time of writing this review, the main cryptocurrency has since recovered and is trading at around $47,158 with a dominance index of 44.2%. Total Crypto Market capitalization seats at $1.9 Trillion.
Equity markets closed lower on Thursday. The Dow Jones fell 0.54%, the S&P 500 lost 0.58%, and the NASDAQ lost 0.64%. Gold and silver rose slightly in price. The dollar index rose 0.25% to 93.067.
On the cryptomarket, everything is according to plan, Bitcoin clearly worked out yesterday's analysis and moved in the designated range. Going to a low price of 46250 on the #Binance exchange and I think that today we will continue the downward movement. We need to unload and do this, preferably at levels 44-42K or even lower, in order to catch up with the hamsters of horror and fear.
The capitalization of the entire market fell below $2 Trillion, altcoins are flying after the main cryptocurrency from the top, only Solana (SOL) is growing, which a few hours ago showed a new ATN for almost 84 dollars.
Plan for today. Bitcoin is in the range of 44000-49000, an alternative option is going below 44K, in which case we can go to 42K.
To some news, the largest bank Morgan Stanley has increased its position in the Grayscale bitcoin trust to 928,051 GBTC shares, with a valuation of over $ 27 million. This news came via a tweet showing major disclosures in a SEC filing reporting MS owning a large amount of Grayscale Bitcoin across multiple portfolios. The largest of these appears to be 928,051 shares held by Morgan's Insight Fund. One follower on the tweet thread wrote: Morgan Stanley "The Adviser seeks long-term capital appreciation by investing primarily in established and emerging companies." LL&P (Live Long & Prosper) #Bitcoin. I tend to agree with him.
Coinbase hires former Facebook CEO Keith Roach as Chief Marketing Officer. As reported by @Cointelegraph Coinbase chief operating officer Emilie Choi said the company had hired Rouch as its new chief marketing officer, responsible for overseeing the exchange’s global brand, as well as product and performance marketing. Until recently, she was the global head of brand and product marketing at social media giant Facebook, but now aims “to bring millions more people into the #cryptoeconomy.”
Lastly the five-star Chedi Andermatt hotel in the Swiss Alps begins accepting payments in bitcoin and ethereum. The hotel has 123 lavish suites with Hästens boxspring beds. It also offers a Michelin-starred Japanese restaurant, saunas, yoga classes and a fitness center.
When it comes to outdoor activities, the hotel boasts its own golf course, sports center and other facilities. Given that the price of a double room starts from 500 francs ($544), the hotel has made a wise move by catering to the growing number of crypto millionaires.
This was not a spontaneous decision. The hotel has been mulling over accepting cryptocurrencies for four years. As reported by U.Today, the restaurant group of American billionaires announced that restaurant group Landry's would start accepting Bitcoin back in April.
Wishing you a great day ahead, remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
Jack Dorsey Discusses Plans to Build a Decentralized Exchange for Bitcoin, Massive Anti-#Bitcoin Protests Fill The Streets of #ElSalvador. #Bitcoin Won't Work in El Salvador!
Thoughts on the market 30.08. 2021
On the weekend, #Bitcoin moved in the range of 49630-47334, with several unsuccessful attempts to gain a foothold above 49K. At the time of writing the review, it is trading around 47,700 with a dominance index of 43.7%. Total Crypto Market capitalization seats at $2.064 Trillion.
Stock markets opened higher. At the moment, futures for the S&P 500 are in positive territory and added 0.06%. Asian indices are trading in the green. Gold has subsided a little, oil is growing.
On the crypto market, I still think that the market needs to go to 44K or even 42K for a subsequent confident growth, priority is the downward movement. Plan for today. If Bitcoin cannot return and gain a foothold above 48,000, or better 48,500, then we can continue moving down to 46K. If we leave and consolidate above 48000-48500, then we can expect continued growth to the levels of 49-50K.
To some news, Square CEO #JackDorsey will launch the development of a #decentralized #bitcoin exchange. First announced in July, Square's "TBD" unit is developing a "non-custodial, permissionless, and decentralized financial services" business whose "primary focus is Bitcoin." In a Friday #tweet, Dorsey said that "TBD" — either referring to the fact the business’ name has yet to be determined or simply the name itself — would be focused on building a decentralized exchange for Bitcoin. Source: Cointelegraph.
The political situation in El Salvador worsens as September 7 approaches, when the country will begin accepting bitcoin as legal tender. Massive protests against bitcoins fill the streets of El Salvador. Source: cryptopotato.com/massive-anti-bitcoin-protests-fill-streets-el-salvador/).
This reminds me of a post we did here(https://t.me/decryptedge/568) titled Bitcoin Won't Work in El Salvador back on 8th June. Read it.
With that, wishing you a splendid week ahead and Remember, you must always do your own research. This is not traditional investment or financial advice. #Decryptedge
Thoughts on the market 30.08. 2021
On the weekend, #Bitcoin moved in the range of 49630-47334, with several unsuccessful attempts to gain a foothold above 49K. At the time of writing the review, it is trading around 47,700 with a dominance index of 43.7%. Total Crypto Market capitalization seats at $2.064 Trillion.
Stock markets opened higher. At the moment, futures for the S&P 500 are in positive territory and added 0.06%. Asian indices are trading in the green. Gold has subsided a little, oil is growing.
On the crypto market, I still think that the market needs to go to 44K or even 42K for a subsequent confident growth, priority is the downward movement. Plan for today. If Bitcoin cannot return and gain a foothold above 48,000, or better 48,500, then we can continue moving down to 46K. If we leave and consolidate above 48000-48500, then we can expect continued growth to the levels of 49-50K.
To some news, Square CEO #JackDorsey will launch the development of a #decentralized #bitcoin exchange. First announced in July, Square's "TBD" unit is developing a "non-custodial, permissionless, and decentralized financial services" business whose "primary focus is Bitcoin." In a Friday #tweet, Dorsey said that "TBD" — either referring to the fact the business’ name has yet to be determined or simply the name itself — would be focused on building a decentralized exchange for Bitcoin. Source: Cointelegraph.
The political situation in El Salvador worsens as September 7 approaches, when the country will begin accepting bitcoin as legal tender. Massive protests against bitcoins fill the streets of El Salvador. Source: cryptopotato.com/massive-anti-bitcoin-protests-fill-streets-el-salvador/).
This reminds me of a post we did here(https://t.me/decryptedge/568) titled Bitcoin Won't Work in El Salvador back on 8th June. Read it.
With that, wishing you a splendid week ahead and Remember, you must always do your own research. This is not traditional investment or financial advice. #Decryptedge
CryptoPotato
Massive Anti Bitcoin Protests Fill The Streets of El Salvador
Nayib Bukele is preparing for the day that the Bitcoin Law starts to be mandatory, but protests against it are more and more common.
Make or Break for BTC, Thoughts on the market 31.08.2021
Bitcoin yesterday moved in the range of 48888-46700 with several attempts to gain a foothold above 48K. At the time of writing this review bitcoin is trading at about 47100 with a dominance index of 43.0%. Total CryptoMarket capitalization of $2.064 Trillion.
Stock markets opened higher. The Dow Jones fell 0.16%, the S&P 500 rose 0.43%, and the NASDAQ rose 0.90%. Gold fell 0.37% to reach 1.812.85 per troy ounce, while oil rose 0.59% to 72.12 per barrel. The dollar index remained at the same level.
The priority version of yesterday's forecast worked out. Bitcoin could not gain a foothold above 48,000 and began a further decline, the local minimum to which the price of 46,700 on #Binance Exchange reached. This correction has been gradually redeemed and now we are trying to gain a foothold above 47K.
Solana (Sol) showed an increase of 50% in a week and a few minutes ago put another ATH above $ 117, Sol is ranked 8th in the cryptocurrency rating by capitalization, but I think it will be in 7th place today. Rune is another altcoin that is set up for a rally.
Plan for today. #Bitcoin is in the range of 45000-49000, the alternative is going below 45K, in which case we can go to 44K. But remember as long as no daily close for BTC above $55k, and $65k weekly, we are looking for another self-off from $48/51k to 32k maybe lower. My personal opinion,(Biased view, Subject to fail.
Wishing you a great afternoon ahead, remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
Bitcoin yesterday moved in the range of 48888-46700 with several attempts to gain a foothold above 48K. At the time of writing this review bitcoin is trading at about 47100 with a dominance index of 43.0%. Total CryptoMarket capitalization of $2.064 Trillion.
Stock markets opened higher. The Dow Jones fell 0.16%, the S&P 500 rose 0.43%, and the NASDAQ rose 0.90%. Gold fell 0.37% to reach 1.812.85 per troy ounce, while oil rose 0.59% to 72.12 per barrel. The dollar index remained at the same level.
The priority version of yesterday's forecast worked out. Bitcoin could not gain a foothold above 48,000 and began a further decline, the local minimum to which the price of 46,700 on #Binance Exchange reached. This correction has been gradually redeemed and now we are trying to gain a foothold above 47K.
Solana (Sol) showed an increase of 50% in a week and a few minutes ago put another ATH above $ 117, Sol is ranked 8th in the cryptocurrency rating by capitalization, but I think it will be in 7th place today. Rune is another altcoin that is set up for a rally.
Plan for today. #Bitcoin is in the range of 45000-49000, the alternative is going below 45K, in which case we can go to 44K. But remember as long as no daily close for BTC above $55k, and $65k weekly, we are looking for another self-off from $48/51k to 32k maybe lower. My personal opinion,(Biased view, Subject to fail.
Wishing you a great afternoon ahead, remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
Former #US president calls #crypto a 'disaster waiting to happen' Thoughts on the market 1.09.2021
Yesterday, #Bitcoin moved in the 48250-46500 range. All attempts to gain a foothold above 48K have not been successful, and at the time of writing the review, the main cryptocurrency is trading around 47100 with a dominance index of 42.3%. Total Crypto Market capitalization is at $2.09Trillion.
The #stock market ended Tuesday trading with a fall. The Dow Jones fell 0.11%, the S&P 500 fell 0.13%, and the NASDAQ fell 0.04%. The Volatility Index, which is based on S&P 500 options trading, was up 1.79% to 16.48. Gold is showing slight growth, oil is getting cheaper. The dollar index rose 0.02% to 92.668.
On the #cryptomarket, the priority version of yesterday's analysis worked out and we did not go beyond the specified range. True, we expected Bitcoin a little lower, a price of 46512 was registered on #Binance Exchange, which will now act as a key support.
Altcoins have shown steady growth, the dominance index continues to fall, which means the altcoins will continue to shoot, showing new highs.
The short-term plan is as follows, now we are waiting for a test support at 44-42K, and then a reversal and movement to new highs.
Plan for today. If Bitcoin cannot keep the support level at 46500, then the next stop is 45500-45000, if we go lower, then we go to 44-42K (it's time to do this). If we fix above 47K, then there is an opportunity for growth to 48K and above.
To some news, the US Treasury will require cryptocurrency exchanges to report information on assets and transactions of foreign clients.
Former US President Donald #Trump has called #cryptocurrency a catastrophe waiting in the wings. In an interview with Fox Business released on Tuesday, former United States President Donald Trump was questioned about his views on the health of the #WallStreet markets, the current administration's progress and the potential of Bitcoin (BTC) and the cryptocurrency market. In response to the latter question, the former president stated: “I like the currency of the United States, but I think the others are potentially a disaster waiting to happen.” He continued:
“They [cryptocurrencies] may be fake. Who knows what they are? They are certainly something that people don’t know very much about.”
He also spoke on protecting the sovereignty of the U.S. dollar as the first priority, rather than advancing the stagnant financial system and grasping the overwhelming benefits that crypto and blockchain technologies have to offer. Source: Cointelegraph.
At this point I suppose who you better listen to. Wishing you a great afternoon ahead, remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
Yesterday, #Bitcoin moved in the 48250-46500 range. All attempts to gain a foothold above 48K have not been successful, and at the time of writing the review, the main cryptocurrency is trading around 47100 with a dominance index of 42.3%. Total Crypto Market capitalization is at $2.09Trillion.
The #stock market ended Tuesday trading with a fall. The Dow Jones fell 0.11%, the S&P 500 fell 0.13%, and the NASDAQ fell 0.04%. The Volatility Index, which is based on S&P 500 options trading, was up 1.79% to 16.48. Gold is showing slight growth, oil is getting cheaper. The dollar index rose 0.02% to 92.668.
On the #cryptomarket, the priority version of yesterday's analysis worked out and we did not go beyond the specified range. True, we expected Bitcoin a little lower, a price of 46512 was registered on #Binance Exchange, which will now act as a key support.
Altcoins have shown steady growth, the dominance index continues to fall, which means the altcoins will continue to shoot, showing new highs.
The short-term plan is as follows, now we are waiting for a test support at 44-42K, and then a reversal and movement to new highs.
Plan for today. If Bitcoin cannot keep the support level at 46500, then the next stop is 45500-45000, if we go lower, then we go to 44-42K (it's time to do this). If we fix above 47K, then there is an opportunity for growth to 48K and above.
To some news, the US Treasury will require cryptocurrency exchanges to report information on assets and transactions of foreign clients.
Former US President Donald #Trump has called #cryptocurrency a catastrophe waiting in the wings. In an interview with Fox Business released on Tuesday, former United States President Donald Trump was questioned about his views on the health of the #WallStreet markets, the current administration's progress and the potential of Bitcoin (BTC) and the cryptocurrency market. In response to the latter question, the former president stated: “I like the currency of the United States, but I think the others are potentially a disaster waiting to happen.” He continued:
“They [cryptocurrencies] may be fake. Who knows what they are? They are certainly something that people don’t know very much about.”
He also spoke on protecting the sovereignty of the U.S. dollar as the first priority, rather than advancing the stagnant financial system and grasping the overwhelming benefits that crypto and blockchain technologies have to offer. Source: Cointelegraph.
At this point I suppose who you better listen to. Wishing you a great afternoon ahead, remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
#Cryptocurrencies now Recognized Under Commercial #Law in #Texas, #Binance #CEO says #US crypto #exchange will go Public in 3 years While #Australia, #Singapore, #Malaysia and #SouthAfrica Launch Joint #CBDC Pilot.
Thoughts on the market 3.09.2021
Yesterday, Bitcoin moved in the range of 50450-48300. An attempt to gain a foothold above 50K did not lead to success and Bitcoin went down. At the time of writing this review, the main cryptocurrency has since broken through the 50k resistance now trading for $50,317. The test now is to hold above this level. Total Crypto market capitalization is at $2.240 Trillion, and BTC dominance index at 41.7%.
The stock market ended Thursday trading with growth. The Dow Jones rose 0.37%, the S&P 500 rose 0.28%, and the NASDAQ rose 0.14%. Gold and silver dipped slightly, oil continues to rise. The dollar index was down 0.25% to 92.222.
On the #cryptomarket, the psychological level of 50K is now done. Back in August, we mentioned here that for a breakthrough to historical highs, it is important for us to break through the decisive resistance at 51K, and then we can confidently talk about a trend change. Failure to break above this level will lead us to further consolidation and continuation of the #altseason. So we are not out of the woods yet.
Plan for today. If we can stay above 50K level, then 51K is already close. Going below 48K will bring us back to 46K and this will be an alternative option.
To some news, #Cryptocurrencies are now recognized by commercial law in Texas. On September 1, the state of Texas entered into force a law allowing the adaptation of commercial law to blockchain and cryptocurrencies. Two bills aimed at furthering the adoption of cryptocurrencies and blockchain are now law in the state of Texas.
Texas House Bills 4474 and 1576, passed by both chambers in the state legislature in May and signed into law by Governor Greg Abbott in June, officially took effect on Sept. 1. H.B. 1576 establishes a blockchain working group in Texas, while H.B. 4474 amends the state's Uniform Commercial Code to recognize cryptocurrencies under commercial law. Source:cointelegraph.com
As #ElSalvador is set to make history by becoming the first country in the world to adopt Bitcoin as its official currency. However, the vast majority of the population is not happy about the initiative. According to a recent poll conducted by IudopUCA, 7 in 10 Salvadorans want President Nayib Bukele's Bitcoin law repealed and abolished. Source:u.today.
#Binance CEO and Founder Changpeng Zhao said the US-based Binance.US unit plans to go public in 2024. Source). Just reminded me of a post back on 24 April 2021(https://t.me/decryptedge/457) Now a fact with dates on the same. Zhao said on Wednesday in an interview with tech publication The Information. He is confident that the global crypto exchange will survive the ongoing regulatory crackdown by global regulators, and that Binance.US will move toward a public listing in three years. “Binance.US is just going to do what Coinbase did,” Zhao stated. He said that Binance generated $800 million–$1 billion in profit last year.
Lastly, Australia, Singapore, Malaysia and #SouthAfrica are launching a joint CBDC pilot project to enable institutions to conduct cross-border transactions using central bank digital currencies. The initiative, dubbed Project Dunbar, will prototype shared platforms enabling direct transfers between institutions using digital currencies issued by multiple central banks. The pilot’s findings will be used to inform the “development of global and regional platforms” in addition to supporting the G20’s roadmap for improving cross-border payments. Source: cointelegraph.com
Where is my dear country Kenya,?? We shall endeavor to do our best as #decryptedge to lobby on the same. For now, wishing you a blessed day ahead, and remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge,
Thoughts on the market 3.09.2021
Yesterday, Bitcoin moved in the range of 50450-48300. An attempt to gain a foothold above 50K did not lead to success and Bitcoin went down. At the time of writing this review, the main cryptocurrency has since broken through the 50k resistance now trading for $50,317. The test now is to hold above this level. Total Crypto market capitalization is at $2.240 Trillion, and BTC dominance index at 41.7%.
The stock market ended Thursday trading with growth. The Dow Jones rose 0.37%, the S&P 500 rose 0.28%, and the NASDAQ rose 0.14%. Gold and silver dipped slightly, oil continues to rise. The dollar index was down 0.25% to 92.222.
On the #cryptomarket, the psychological level of 50K is now done. Back in August, we mentioned here that for a breakthrough to historical highs, it is important for us to break through the decisive resistance at 51K, and then we can confidently talk about a trend change. Failure to break above this level will lead us to further consolidation and continuation of the #altseason. So we are not out of the woods yet.
Plan for today. If we can stay above 50K level, then 51K is already close. Going below 48K will bring us back to 46K and this will be an alternative option.
To some news, #Cryptocurrencies are now recognized by commercial law in Texas. On September 1, the state of Texas entered into force a law allowing the adaptation of commercial law to blockchain and cryptocurrencies. Two bills aimed at furthering the adoption of cryptocurrencies and blockchain are now law in the state of Texas.
Texas House Bills 4474 and 1576, passed by both chambers in the state legislature in May and signed into law by Governor Greg Abbott in June, officially took effect on Sept. 1. H.B. 1576 establishes a blockchain working group in Texas, while H.B. 4474 amends the state's Uniform Commercial Code to recognize cryptocurrencies under commercial law. Source:cointelegraph.com
As #ElSalvador is set to make history by becoming the first country in the world to adopt Bitcoin as its official currency. However, the vast majority of the population is not happy about the initiative. According to a recent poll conducted by IudopUCA, 7 in 10 Salvadorans want President Nayib Bukele's Bitcoin law repealed and abolished. Source:u.today.
#Binance CEO and Founder Changpeng Zhao said the US-based Binance.US unit plans to go public in 2024. Source). Just reminded me of a post back on 24 April 2021(https://t.me/decryptedge/457) Now a fact with dates on the same. Zhao said on Wednesday in an interview with tech publication The Information. He is confident that the global crypto exchange will survive the ongoing regulatory crackdown by global regulators, and that Binance.US will move toward a public listing in three years. “Binance.US is just going to do what Coinbase did,” Zhao stated. He said that Binance generated $800 million–$1 billion in profit last year.
Lastly, Australia, Singapore, Malaysia and #SouthAfrica are launching a joint CBDC pilot project to enable institutions to conduct cross-border transactions using central bank digital currencies. The initiative, dubbed Project Dunbar, will prototype shared platforms enabling direct transfers between institutions using digital currencies issued by multiple central banks. The pilot’s findings will be used to inform the “development of global and regional platforms” in addition to supporting the G20’s roadmap for improving cross-border payments. Source: cointelegraph.com
Where is my dear country Kenya,?? We shall endeavor to do our best as #decryptedge to lobby on the same. For now, wishing you a blessed day ahead, and remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge,
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Cryptocurrency Giant Binance.US Hires Former Top Bank Regulator. Thoughts on the market on 21.04.2021.
#Bitcoin moved in the range of $53300-57100 during the day. Corrections below 54K were quickly bought back, now we are trying to gain a foothold above…
#Bitcoin moved in the range of $53300-57100 during the day. Corrections below 54K were quickly bought back, now we are trying to gain a foothold above…
#Shop.com now Accepts #Bitcoin Payments After Partnership with BitPay as #Indian #Govt Wants to Define #Cryptocurrencies as #Commodities: Report
Thoughts on the market 4.09.2021
Yesterday, #Bitcoin moved in the 48300-51000 range. At the time of writing this review, the main cryptocurrency is trading at around 49,880, BTC dominance index 41.5% and total #cryptomarket capitalization $2.278 Trillion.
The stock market finished trading on Friday in different directions. The Dow Jones fell 0.21%, the S&P 500 lost 0.03%, and the NASDAQ rose 0.21%. Gold is rising, oil is falling, the dollar index fell 0.09% to 92.142.
Yesterday's priority version of our review worked out, Bitcoin held above $48K, passed the resistance area at 50K and even touched 51000. It was not yet possible to break through and gain a foothold above the decisive resistance at 51K, everything ended with a rebound to 49K, but there will still be attempts at the weekend.
Altcoins continue to renew their highs, the dominance index is falling, Ethereum returned above 4K for the first time since May, showing a local high at 4027 on @Binance), $345 shot off it's all-time high.
This weekend I expect Bitcoin in the range of 48000-52000. An alternative option is Bitcoin correction below 48K. Do not forget that on the thin weekend market, movements by a couple of thousand points in any direction are possible.
American e-commerce platform Shop.com begins accepting payments in bitcoin and ether following a partnership with #BitPay. Describing the partnership as the next chapter in doing business, Shop.com president and chief operating officer Steve Ashley said that the BitPay integration is available in all the countries in which Market America operates, including the United States, Canada, Australia, Hong Kong, Taiwan, the United Kingdom, Singapore and Malaysia.Source:cointelegraph.com
India plans to develop a new bill that seeks to segregate cryptocurrencies as commodities based on use cases such as payments as investments or utilities. According to an ET report, (Economic Times) the new draft bill is expected to be tabled in the Parliament’s next winter session that will look into defining cryptocurrencies as an asset/commodity for all purposes including taxation. “The government in its draft bill is working towards defining cryptocurrency and its treatment in various use cases, so that it can be treated correctly in the books of accounts plus it should be taxed in the right manner. It is not looking to allow payments and settlements through virtual currencies,” a source familiar with the matter said.
However, the government is not in the favor of allowing cryptocurrencies as payments and settlements. Only those cryptocurrencies will be allowed to trade that has been approved by the Indian government. “Crypto-assets can be either categorized on the basis of the technology they use or they can be defined on their end-use. So, before talking about how the regulations should work, the government has to spell out what it means by cryptocurrencies.” Source:cryptoknowmics.com
Wishing you a great weekend ahead, remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
Thoughts on the market 4.09.2021
Yesterday, #Bitcoin moved in the 48300-51000 range. At the time of writing this review, the main cryptocurrency is trading at around 49,880, BTC dominance index 41.5% and total #cryptomarket capitalization $2.278 Trillion.
The stock market finished trading on Friday in different directions. The Dow Jones fell 0.21%, the S&P 500 lost 0.03%, and the NASDAQ rose 0.21%. Gold is rising, oil is falling, the dollar index fell 0.09% to 92.142.
Yesterday's priority version of our review worked out, Bitcoin held above $48K, passed the resistance area at 50K and even touched 51000. It was not yet possible to break through and gain a foothold above the decisive resistance at 51K, everything ended with a rebound to 49K, but there will still be attempts at the weekend.
Altcoins continue to renew their highs, the dominance index is falling, Ethereum returned above 4K for the first time since May, showing a local high at 4027 on @Binance), $345 shot off it's all-time high.
This weekend I expect Bitcoin in the range of 48000-52000. An alternative option is Bitcoin correction below 48K. Do not forget that on the thin weekend market, movements by a couple of thousand points in any direction are possible.
American e-commerce platform Shop.com begins accepting payments in bitcoin and ether following a partnership with #BitPay. Describing the partnership as the next chapter in doing business, Shop.com president and chief operating officer Steve Ashley said that the BitPay integration is available in all the countries in which Market America operates, including the United States, Canada, Australia, Hong Kong, Taiwan, the United Kingdom, Singapore and Malaysia.Source:cointelegraph.com
India plans to develop a new bill that seeks to segregate cryptocurrencies as commodities based on use cases such as payments as investments or utilities. According to an ET report, (Economic Times) the new draft bill is expected to be tabled in the Parliament’s next winter session that will look into defining cryptocurrencies as an asset/commodity for all purposes including taxation. “The government in its draft bill is working towards defining cryptocurrency and its treatment in various use cases, so that it can be treated correctly in the books of accounts plus it should be taxed in the right manner. It is not looking to allow payments and settlements through virtual currencies,” a source familiar with the matter said.
However, the government is not in the favor of allowing cryptocurrencies as payments and settlements. Only those cryptocurrencies will be allowed to trade that has been approved by the Indian government. “Crypto-assets can be either categorized on the basis of the technology they use or they can be defined on their end-use. So, before talking about how the regulations should work, the government has to spell out what it means by cryptocurrencies.” Source:cryptoknowmics.com
Wishing you a great weekend ahead, remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.