All in all, market corrections are not to be feared. If you plan for their occurrence, you’ll be less likely to enter panic mode when corrections happen. By failing to prepare, you are preparing to fail.

Pros and Cons of Investing During a Market Correction

Investing during a market correction can be a hit or a miss. It could be a huge mistake and it can also be the best decision you’ll ever make; it all depends on what happens after the correction. 

Bitcoin’s all-time high of December 2017 was followed by a correction which gradually turned into a bear market. Investing during that correction would have been a mistake. Those who did either waited for years before they could make a gain or ended up selling their coins at a loss. Waiting that long for the market to bounce back can wear on your emotions and mental health. 

At the same time, corrections could provide great buying opportunities for investors. The famous ‘buy the dip’ quote in crypto circles stems from making the most of a market correction by buying coins at relatively low prices. If things go well, you could slowly build a crypto portfolio that could be worth more in the future. 

In the past 24 hours, Bitcoin (BTC) has been trading between $31,130 and $38,700. As of 2:00 PM (UTC) today, BTC is at $37,915 (+12.74%).

Bitcoin and the majority of the market are beginning to show signs of recovery from last week’s downward trend.

Other major cryptocurrencies:

BNB: $312.82 (+30.67%)

ETH: $2,410.12 (+23.87%)

ETC: $61.17 (+24.10%)

LTC: $165.52 (+21.09%)

LINK: $24.26 (+36.20%)

XRP: $0.86 (+18.70%)

ADA: $1.48 (+27.95%)

DOT: $20.33 (+19.54%)

BCH: $652.22 (+23.25%)

Top 3 gainers on Binance:coindesk

MKR / BTC (+54.05%)

UNFI / BTC (+51.43%)

MITH / BTC (+48.31%)

In the past 24 hours, Bitcoin (BTC) has been trading between $34,183 and $37,289. As of 2:00 PM (UTC) today, BTC is at $36,625 (+2.77%).
Sideways price action continues to dominate BTC and the wider cryptocurrency market.
Other major cryptocurrencies:
BNB: $342.32 (+4.55%)
ETH: $2,524.17 (+5.87%)
ETC: $67.07 (+1.49%)
LTC: $180.32 (+2.93%)
LINK: $28.76 (+3.26%)
XRP: $1.00 (+14.11%)
ADA: $1.65 (+0.74%)
DOT: $21.46 (+4.73%)
BCH: $682.30 (+3.31%)
Top 3 gainers on Binance:
EPS / BUSD (+54.28%)
TRU / BUSD (+31.57%)
GRT / BUSD (+26.59%)

In the past 24 hours, Bitcoin (BTC) has been trading between $34,981 and $37,984. As of 8:00 AM (UTC) today, BTC is at $36,957 (+5.57%).

Most other major cryptocurrencies have risen alongside Bitcoin, but WazirX (WRX) has even outperformed other bullish tokens with a 64.48% gain. It’s thought this large price increase is due to the RBI issuing a clarification on Monday stating commercial banks cannot quote its now-invalid April 2018 crypto banking ban to deny services to customers involved in digital assets dealings.
Other major cryptocurrencies:
BNB: $353.77 (+8.47%)
ETH: $2,671.32 (+10.16%)
ETC: $69.10 (+6.47%)
LTC: $185.34 (+9.39%)
LINK: $30.93 (+12.29%)
XRP: $1.0558 (+6.29%)
ADA: $1.7382 (+7.94%)
DOT: $22.73 (+10.55%)
BCH: $699.71 (+5.51%)
Top 3 gainers on Binance:
WRX / BUSD (+64.48%)
COVER / BUSD (+50.26%)
CFX / BUSD (+26.80%)

In the past 24 hours, Bitcoin (BTC) has been trading between $35,498 and $36,900. As of 8:00 AM (UTC) today, BTC is at $35,988 (+0.26%).

Most of the other major cryptocurrencies have risen alongside Bitcoin, Automata (ATA) increased 3665.93% following its listing on Binance's Innovation zone.

Other major cryptocurrencies:

ETH: $2,753.44 (+3.05%)

BCH: $659.12 (+0.15%)

XRP: $0.9513 (+1.61%)

ETC: $63.83 (+0.73%)

LTC: $177.79 (+0.38%)

ADA: $1.7003 (+0.93%)

BNB: $393.48 (+0.96%)

DOT: $24.37 (+1.77%)

LINK: $27.27 (+0.54%)

DOGE: $0.3705 (+0.31%)

Top 3 gainers on Binance:

ATA / BUSD (+3665.93%)

POND / BUSD (+27.11%)

TVK / BUSD (+19.17%)

In the past 24 hours, Bitcoin (BTC) has been trading between $35,222 and $36,900. As of 2:00 PM (UTC) today, BTC is at $36,443 (+2.25%).
Most of the other major cryptocurrencies have risen alongside Bitcoin, Automata（ATA) increased 4181.53% following its listing on Binance's Innovation zone.
Breaking: MicroStrategy to Offer $400M in Notes to Buy More Bitcoin
Other major cryptocurrencies:
ETH: $2,788.59 (+4.85%)
BCH: $659.07 (+1.34%)
XRP: $0.9583 (+3.34%)
ETC: $64.04 (+0.69%)
LTC: $178.34 (+2.11%)
ADA: $1.7195 (+3.77%)
BNB: $397.55 (+3.53%)
DOT: $24.85 (+4.75%)
LINK: $28.01 (+3.04%)
DOGE: $0.3634 (-0.34%)
Top 3 gainers on Binance:
ATA / BUSD (+4183.95%)
POND / BUSD (+44.52%)
TVK / BUSD (+16.75%)

MicroStrategy to Offer $400M in Notes to Buy More Bitcoin
Tanzeel Akhtar-Coindesk
2021-06-07 16:36
BTC
-0.18%

Publicly traded business intelligence firm MicroStrategy (NASDAQ: MSTR) said it intends to offer $400 million senior secured notes to raise funds to purchase more bitcoin.
The company said it has formed a subsidiary, MacroStrategy LLC, which will hold its purchase of 92,079 BTC.
The story is developing and will be updated.

In the past 24 hours, Bitcoin (BTC) has been trading between $32,123 and $36,385. As of 2:00 PM (UTC) today, BTC is at $32,622 (-10.36%).
Other major cryptocurrencies were dragged down alongside Bitcoin, except for Gifto (GTO) which rose 30.13%.
Other major cryptocurrencies:
ETH: $2,446.76 (-12.38%)
BCH: $573.77 (-12.95%)
XRP: $0.8412 (-12.01%)
ETC: $54.21 (-15.18%)
LTC: $154.66 (-13.18%)
ADA: $1.4882 (-13.66%)
BNB: $343.01 (-12.96%)
DOT: $20.93 (-15.74%)
LINK: $23.14 (-17.68%)
DOGE: $0.3229 (-13.13%)
Top 3 gainers on Binance:
GTO / USDT (+30.13%)
KP3R / BUSD (+4.81%)
AR / BUSD (+0.31%)

In the past 24 hours, Bitcoin (BTC) has been trading between $31,000 and $34,360. As of 8:00 AM (UTC) today, BTC is at $34,221 (+4.90%).
Most of the other major cryptocurrencies have risen alongside Bitcoin, but Streamr (DATA) has outperformed these bullish tokens with a 64.75% gain.
BREAKING:The El Salvador Bitcoin bill has officially passed.
Other major cryptocurrencies:
ETH: $2,533.12 (+2.03%)
BCH: $584.39 (+2.46%)
XRP: $0.8703 (+2.52%)
ETC: $56.68 (+2.79%)
LTC: $161.12 (+3.12%)
ADA: $1.5673 (+3.88%)
BNB: $356.34 (+3.34%)
DOT: $21.68 (+2.91%)
LINK: $24.04 (+1.72%)
DOGE: $0.3288 (+1.98%)
Top 3 gainers on Binance:
DATA / BUSD (+64.75%)
FIO / BUSD (+33.09%)
BTG / BUSD (+24.78%)

A supermajority of the El Salvadoran legislature voted to adopt bitcoin as legal tender early Wednesday morning.
El Salvador officially recognizes bitcoin as legal tender.
In an early Wednesday vote, a supermajority of the nation’s legislature voted in favor of President Nayib Bukele’s proposal for the Latin American nation to adopt bitcoin. The president intends to sign later tonight or early in the morning.
Sixty-two members of the legislature voted in favor of the bill, with 19 opposed and three abstentions.
Bukele provided further details about his vision, pitched as an effort to boost financial inclusion in a country where a scant 30% of citizens have access to financial services, in a Twitter Space conversation early Wednesday morning hosted by Nic Carter of Castle Island Ventures and Coin Metrics. Users won’t necessarily have to use a government wallet, he said.
The bill will mandate all businesses to accept bitcoin for goods or services, but the government will act as a backstop for entities that aren’t willing to take on the risk of a volatile cryptocurrency, he said.
A trust that the government will set up at the Development Bank of El Salvador to instantly convert bitcoin to U.S. dollars will assume merchants’ risk, he said. It will hold about $150 million in dollars in the trust fund.
“If there’s an ice cream parlor, he doesn’t really want to take the risk, he has to accept bitcoin because it’s a mandated currency but he doesn’t want to take the risk of convertibility, so he wants dollars deposited in his banking account, when he sells the ice cream, he can ask the government to exchange his bitcoin to dollars,” he said. “Of course he can do that in the markets also but he can ask the government to do it immediately.”
The Development Bank’s trust fund would sell some of the bitcoin it receives for dollars to replenish the fund.
Government officials from El Salvador will meet with the International Monetary Fund in the coming days to discuss the plan.
Bukele also indicated that the government may promote bitcoin mining. El Salvador has already been hoping to draw businesses with excess geothermal energy, and while the government isn’t specifically looking to the bitcoin mining industry to fill that need, it is one such sector that could benefit, he said.
Marc Hochstein, Danny Nelson and Seb Sinclair contributed reporting.

In the past 24 hours, Bitcoin (BTC) has been trading between $36,137 and $31,710. As of 2:00 PM (UTC) today, BTC is at $32,868 (-3.5%).

Bitcoin plunged further to as low as $31.7K as China’s central bank urged banks and financial institutions to stop providing crypto-related services. The news dragged the entire crypto market down, except for district0x (DNT), which rose 62.28%. Meanwhile, MicroStrategy purchased more bitcoin for $489 million in cash, holding more than 105,000 BTC now.

Other major cryptocurrencies:

ETH: $2000.13 (-3.70%)

BCH: $496.8 (-4.72%)

XRP: $0.6886 (-3.92%)

ETC: $46.121 (-4.38%)

LTC: $136.49 (-6.67%)

ADA: $1.3273 (-0.23%)

BNB: $308.68 (-1.89%)

DOT: $17.961 (-6.68%)

LINK: $19.171 (-1.65%)

DOGE: $0.22987 (-11.58%)

Top 3 gainers on Binance:

DNT/ BUSD (+62.28%)

STRAX/ BUSD (+14.37%)

CVP/ BUSD (+13.20%)

#Market UPDATES 👇

😅 Bitcoin below $30K, but it's OK
⛏ Chinese mining ban is good for crypto
🧲 Let the gains come to you

👌 3 reasons why Bitcoin below $30K is OK 👌

You've seen the headlines. Bitcoin is below $30K for the first time since blah blah blah.

We get it, BTC is down. Start by asking yourself — what's the point of the endless doom and gloom Bitcoin headlines?

The answer is a simple one. These headlines create even more downward price action, all of which is meant to try and shake you out of your coins.

But guess who's on the receiving end of Bitcoin sold cheaply? That's right — the exact same people and institutions creating FUD now.

So don't take your eyes off the prize. Here are 3 reasons why BTC below $30K is fine.

1️⃣ Zoom out. last year, BTC was $5K. Prices are 400%+ since then.
2️⃣ Reset. Run to $60K created greed. Corrections are needed.
3️⃣ Flippening. Watch as the old $20K resistance becomes support.

The last upshot is especially relevant. Take a macro view of the market, then you realize daily price action is largely a distraction from the real prize later on: $100K+ BTC prices.

♻️ The Chinese mining ban is great for crypto♻️

There's been plenty of fear in the market about the Chinese mining ban. Not only are people confused about what it means for Bitcoin, there's mixed messages about the consequences.

The mining ban has broadly extended to over 90% of the active Bitcoin miners in China. As you probably know, China has so far dominated the Bitcoin hash rate through sheer mining capacity.

However, Bitcoin's global profile is rising every day, which increases the spotlight on everything wrong with Bitcoin. A few weeks ago, Elon Musk tanked the market after tweeting that Tesla would no longer process BTC payments due to environmental concerns.

In response, Bitcoin hero Michael Saylor convened a North American Mining Council conference and outlined environmental goals like using renewable energy for mining.

The Chinese miner crackdown is well-timed. More people, institutions, and entire nations are getting involved with Bitcoin but are simultaneously concerned about mining power concentration in China.

Now, mining power is set to redistribute globally. El Salvador recently announced geothermal Bitcoin mining sites and locales throughout Africa are being scouted.

So, while miners in China are losing out on a long lucrative position as the world's top BTC excavators, everyone else is in a winning position.

🧲 Put your portfolio on auto-pilot 🧲

In market conditions like these, the best thing is to take emotions out of trading & investing.

The top of the current cycle is in, and the bottom is near, which means the current zone is nothing but market chop designed to cut your portfolio to pieces.

Best Regards .

In the past 24 hours, Bitcoin (BTC) has been trading between $35,500 and $32,769. As of 7:00 AM (UTC) today, BTC is at $34,472 (+4.31%).

BTC rose 4.31% to $34,472 as El Salvador announced it will implement Bitcoin as legal tender starting from September 7 and will send $30 in Bitcoin to every adult citizen. Other major cryptocurrencies have risen alongside Bitcoin, with large gainers including Everipedia (IQ) (+31.32%), Perpetual Protocol (PERP) (+17.35%), and Dogecoin (DOGE) (+15.97%).

Other major cryptocurrencies:

ETH: $1,970.2 (+2.18%)

BCH: $481.61 (-0.46%)

XRP: $0.6669 (+3.64%)

ETC: $43.802 (+5.59%)

LTC: $134.27 (+3.04%)

ADA: $1.359 (+2.41%)

BNB: $302.36 (+3.74%)

DOT: $15.911 (+2.68%)

LINK: $18.831 (+3.47%)

DOGE: $0.27200 (+15.97%)

Top 3 gainers on Binance:

IQ/ BUSD (+31.32%)

PERP/ BUSD (+17.35%)

DOGE/ BUSD (+15.97%)

Crypto market revisits $2 trillion despite regulatory uncertainty. What’s behind the run-up?

This week, crypto’s total market cap crossed the $2 trillion mark for the first time since May. The reversal was especially striking given recent headlines around China’s mining crackdown and regulatory uncertainty. Just last month, the market was below $1.2 trillion — so what sparked the rebound? Let’s dig in.

Global financial firms are citing institutional clients’ growing appetite for crypto. A July Fidelity survey found that 7 in 10 institutional investors expect to buy digital assets. And in response to tenfold growth in corporate demand, DBS, Southeast Asia’s biggest bank, launched new crypto services this week. “We are confident about doubling our investor base by the end of the year,” said the bank’s capital markets director.
Venture capital is flowing into the crypto space at record pace. Ten companies have raised nearly $4 billion this year, half in the past two months. Crypto exchange FTX, for instance, raised a record-breaking $900 million in July. (Coinbase Ventures was one of the investors.)
Individual retail traders are helping propel the altcoin market. The Wall Street Journal reports: “Many so-called altcoins, or alternatives to bitcoin, have seen their prices surge recently — a sign that retail investors are active as they search for digital assets with small market capitalizations and potential for big gains.”
Ethereum, home to much of DeFi and major NFT markets like OpenSea, is up around 20% since the London Fork upgrade. Meanwhile, Cardano revisited $2.00 after a long awaited announcement about smart-contract functionality, and Bitcoin rallied above $48,000 over the weekend for the first time since May. 
The booming NFT market is breaking records. This week, Solana hit all-time highs after Degenerate Ape NFTs launched on its blockchain. Meanwhile, NFT marketplace OpenSea and NFT game Axie Infinity have seen combined revenues north of $400 million in the last month.
Why it matters… Crypto moves fast and is notoriously hard to predict. Just a month ago, many analysts were warning that a “crypto winter,” like the one that followed the late-2017 bull run, was imminent. Now, a historically broad array of crypto has powered the overall market close to all-time highs.

From Afghanistan to Ukraine, crypto adoption goes global

Last week, El Salvador officially became the first country in the world to make bitcoin legal tender — but it’s not the only nation moving quickly on crypto adoption. In the past month, Ukraine has legalized cryptocurrency, Panama introduced a bill that would allow crypto to be accepted for payment, and Afghanistan has seen crypto adoption skyrocket. Each country has different reasons for embracing crypto. Let’s dig in.

Ukrainian cabinet officials have been meeting with counterparts in El Salvador to discuss crypto adoption. Ukraine’s President Volodymyr Zelensky also recently toured Silicon Valley to learn how the country can digitize its economy, which has struggled with a devaluing currency for much of the past decade. Ukraine expects to open its crypto market to businesses and investors next year, potentially setting the stage for a transition to a dual currency economy, where bitcoin sits alongside its fiat currency, the hryvnia.

In Afghanistan, the Taliban’s ascent has contributed to a rapidly devaluing currency and a severe cash shortage. Local bitcoin exchanges, however, haven’t ceased operating, allowing family members abroad to send money to those back home, who can exchange it for hard currency to buy food and other necessities. 

Digital currencies have become many Nigerians’ on-ramp to the global economy, despite government efforts to restrict crypto. Some Nigerians are using crypto to import goods — from China, for example — that can then be resold domestically. And Nigeria isn’t alone. Throughout sub-Saharan Africa, more than $80 million in bitcoin was sent via peer-to-peer exchanges in the last month, roughly as much as was transferred in North America.

Why it matters… Developing economies lead the world in crypto adoption, requiring governments to come to terms with its existence. India, which was reportedly planning a crypto ban earlier this year, is now working on a regulatory structure. Both Nigeria and India are planning to launch Central Bank Digital Currency pilot programs soon (CBDCs are state-issued money, unlike BTC, which is decentralized), joining at least 81 countries around the globe, from China to Sweden.

Feel free to join and invite friends to the muso coin telegram group https://t.me/joinchat/T2WU3ajrs8plMDA8

The price of bitcoin hit a new all-time high of $66,950 on Wednesday as investors cheered the successful launch of the first bitcoin futures exchange-traded fund (ETF) in the United States. The cryptocurrency is now trading at $65,000, a key level.

The U.S. Securities and Exchange Commission (SEC) has likely approved VanEck’s Bitcoin Strategy ETF, with trading of the fund expected to begin on Monday. VanEck’s bitcoin ETF offers exposure to the crypto asset through futures contracts.

Investing giant Pimco, with $2 trillion in assets under management, could start trading spot cryptocurrencies, according to its chief investment officer Daniel Ivascyn. The firm has already been trading securities tied to the crypto market.