The market is over Chinese drama: Bitcoin price recovers
The price of the world’s most popular cryptocurrency Bitcoin is recovering after a massive drop last week. On Friday, the digital currency plunged to as low as $2,951.15. The value hasn’t been so low since August. Last week, Bitcoin’s value dropped 14.7%. However, the price has since recovered by 34%. At press time, Bitcoin is trading at $3,995.89, which is still short of its rec...
Can Bitcoin get banned by any government?
Bitcoin became part of the financial markets less than a decade ago, but it has quickly found its niche as an alternative asset class. Can any government possibly step in and ban it? Flashback: Gold bullions were illegal Those of you who believe that no government will ever be able to take such an extreme step as banning the cryptocurrency, may want to hear this little history lesson. In 20th cent...
Bitcoin price drops as China bans ICO
On September 4th, China’s central bank has banned all ICO in the country. The authorities have called Initial Coin Offering “illegal fundraising”. An official statement has been released by the People’s Bank of China (PBoC). The institution serves as China’s financial regulator and central bank. According to the note, ICO has disrupted the economic and financial order...
Russia is exploring Bitcoin regulation opportunities, but doesn’t see it as a currency
According to the Russian central bank governor Elvira Nabiullina, the authorities are looking for ways to regulate Bitcoin. However, Russia questions the benefits of legalizing Bitcoin and doesn’t believe that it should be viewed as a virtual currency. Digital asset rather than a currency In an interview for CNBC, Elvira Nabiullina explained that she sees Bitcoin as a digital asset rather t...