3 Positives That Have Come From The BTC Price Crash
In the last week, Bitcoin (BTC) has experienced its largest sell-off that it has ever seen, in terms of USD value. The world’s top cryptocurrency had a crash of around 50 percent, shedding $70 billion of its market cap in a short 24 hours. This did not come as a surprise to many though, who regularly watch the price trends of BTC. Top analysts have been predicting the crash for some time, amidst the BTC halving event, which is expected to happen in May this year. However, even with the price of BTC drastically low, there is optimism for Bitcoin …
Financial Advisors And Their View On Bitcoin
Economic markets worldwide are in a declining crisis and investment advisors are hot on their heels with advice for their clients, with some recommending Bitcoin (BTC). The growing interest from financial advisors is demonstrating that times are changing and cryptos as an asset class in moving forward fast within the public and mainstream eye. In a report carried out by Bitwise and ETF Trends, they found that 54 percent of financial advisors view BTC’s lack of correlation to other asset classes as a key reason for their clients to add the crypto asset to their investment portfolios. The report also …
Governments Fail To Fuel Growth – Crypto Will Thrive In 2020
Global economic markets are failing worldwide and they are struggling to stimulate any positive growth. With increasing radical policies and ongoing weakening of national currencies, Bitcoin is fast becoming more and more appealing, and so it should be. Central Banks Are Promoting Cryptos Unintentionally Central banks on a global scale are cutting interest rates, and without even meaning to, they are pushing people towards cryptocurrencies. People have lost trust. The US central bank has recently slashed interest rates, with the Federal Reserve lowering its benchmark rate by 50 basis points. They are not alone, the Australia’s central bank has too …
BTC – “It doesn’t get much more bullish than this”.
Bitcoin has been surging drastically this week, along with other large cryptocurrencies, seeing three-month highs. In the last 24 hours, Bitcoin alone has broken the $9,400 mark, hitting $9,435.87 USD. This has called for positive alarm with expert analysts saying that the next Bull Market is well and truly here. Thomas Lee, Head of Research at Fundstrat Global Advisors, has affirmed that Bitcoin has crossed the line of its two hundred day moving average, representing a very notable market move. In one of Lee’s latest tweets he has strongly suggested that the leading crypto asset will experience big financial gains …
4 Advantages Of Crypto Mining vs. Trading Crypto
Cryptocurrencie’s are taking the world by storm. They are fast becoming a more trusted form of currency to use, especially in countries experiencing economic turmoil, and with people and organisations who no longer trust the traditional form of the banking system. There are many ways to obtain and enter the crypto space, with mining and trading being the two most popular. When mining Crypto’s, we must understand that they are mined into existence, or, they are bought into circulation. By doing so as a miner, you are rewarded for this in the form of Crypto’s. For example, when mining Bitcoin …
MASTERCARD IS STARTING A CRYPTOCURRENCY TEAM
MasterCard has sparked interest in the cryptocurrency arena and is seeking professionals to start a cryptocurrency team. “Do you have the desire to work at the cutting edge intersection of payments and Cryptocurrencies,” MasterCard asks. MasterCard has stated that those hired will, “Monitor crypto currency ecosystem trends and develop new products and solutions.” CEO of LowCards.com, Bill Hardekopf, says MasterCard, “Sees there’s a lot of activity in this area. Even if it isn’t going to offer its own cryptocurrency, they know its important to have people who understand the subject.” MasterCard is not the only one who is getting on …
NEW ZEALAND CHANGES ITS LAWS – GET PAID YOUR INCOME IN BTC, LEGAL AND TAXABLE
New Zealand’s Tax Office, the Inland Revenue Department (IRD), has just announced that it is now legal to receive salaries paid in Cryptocurrencies, and they will be taxed accordingly. The new law was passed on June 27 2019 and will be in effect, at this stage, for three years from September 1st 2019. The new law falls under the Tax Administration Act 1994 (section RD 3), with the IRD publishing in their August Bulletin that an employee can be paid salaries in crypto assets as long as the payments are for services performed under an employment contract, are for a …
CHINA SET TO RELEASE THEIR OWN DIGITAL CURRENCY
After five years of extensive research, the People’s Bank of China (PBoC) has announced that its digital currency “can now be said to be ready.” PBoC Deputy Director Mu Changchun, who also states that the digital currency adopts Blockchain Architecture, made the announcement at the China Finance 40 Forum on August 10. The digital currency will operate on a two-tier system in order to cater to the nations “complex economy with a vast territory and a large population,” with the PBoC on the main higher level of operation and commercial banks operating underneath. This means that the system will convert …
AUS DOLLAR PLUMMETS TO A 10 YEAR LOW – HOW YOU CAN SAFEGUARD YOUR MONEY
The Australian dollar has plummeted to below 67 US cents for the first time in 10 years, and it could go even lower! This comes after the Reserve Bank of New Zealand followed in Australia’s shoes and unexpectedly slashed their interest rates. The cash rate was cut to a record low of one per cent, however, it was done very swiftly and dramatically. Commsec Chief Economist, Craig James, suggest that the Reserve Bank of New Zealand was worried about the nations slow economic growth pace as the United States continually engages in the Trade War with China. “Growing global trade …
AUSTRALIA SET TO LIMIT CASH PAYMENTS BUT NOT CRYPTOCURRENCY
Australia’s Department of Treasury has recently published a new set of guidelines under the Currency (Restrictions on the Use of Cash) Act 2019, and it is not surprising to see that cryptocurrency has made the exceptions list. The draft legislation, which puts forward a new set of preliminary guidelines that govern the size of cash based currency payments, proposes that a, “Payment limit of $10,000 for payments made or accepted by businesses for good and services.” Further stipulating in the draft that, “Transactions equal to, or in excess of this amount would need to be made using the electronic payment …
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