World: Bitcoin's Price Lowest Since January; U.S. Top Destination for Global Money

Bitcoin vs. Etherum: The Tapoot update brings complex Smart Contracts to the Blockchain

 Bitcoin vs. Etherum: The Tapoot update brings complex Smart Contracts to the Blockchain Tapoot, the first update of the Bitcoin protocol for four years, real smart contracts on the blockchain will make sense for the first time. Ethereum could thereby lose attractiveness. © Visual Generation / Shutterstock Bitcoin takes up with Taproot powerful ride. At the weekend, the tension expected tapoot update of Bitcoin was adopted by more than 90 percent of the mining hashrates of the blockchain in the way of Speedy Trial . By Speedy Trial, Miner and Mining Pools signal their approval.

Bitcoin plunged 30% to near ,000 at one point on Wednesday, continuing a major sell-off in the cryptocurrency markets that began a week ago. The digital currency hit as low as ,001.51 as the selling intensified Wednesday before paring some of those losses. The sharp drop means bitcoin had temporarily erased all its gains following Tesla' s announcement that it would purchase .5 billion worth of the cryptocurrency. It was also down more than 50% since hitting a record high of ,829 in mid-April.

Bitcoin ’ s most unique advantage comes from the fact that it was the very first cryptocurrency to appear on the market. It has managed to create a global community and give birth to an entirely new industry of millions of enthusiasts who create, invest in, trade and use Bitcoin and other cryptocurrencies in their everyday lives. Bitcoin is, in many regards, almost synonymous with cryptocurrency, which means that you can buy Bitcoin on virtually every crypto exchange — both for fiat money and other cryptocurrencies.

CryptoCorner

a large machine in a store: People use bank ATM © Chris McGrath/Getty Images People use bank ATM"s next to a Bitcoin ATM machine at a shopping mall on April 16, 2021 in Istanbul, Turkey. Turkey's Central Bank announced a ban on the use of cryptocurrencies and crypto assets for purchases, directly or indirectly to pay for goods or services.

China's continued crackdown on Bitcoin mining sent the value of the world's leading cryptocurrency below $30,000 for the first time since late January.

Bitcoin's drop Tuesday morning put it nearly 55% below its record high before recovering in mid-day trading.

Bitcoin's current price points to the "death cross"—when the 50-day moving average dips below its 200-day moving average—and may indicate the start of a bear market.

Central Banks Creating Solo Cryptos; Retail Slumps, Bars and Restaurants Boom

  Central Banks Creating Solo Cryptos; Retail Slumps, Bars and Restaurants Boom Nearly 90% of the world's central banks are developing digital currencies, apparently pressured by the rise of Bitcoin and other crypto currencies. Retail sales dipped in May, but spending at bars and restaurants surged as COVID-19 vaccination rates rose.Nearly 90% of the world's central banks are developing digital currencies, apparently pressured by the rise of Bitcoin and other cryptocurrencies.

Investing.com – The price of Bitcoin dropped to its lowest level since 28th January on Tuesday, in the wake of more stringent Chinese measures to regulate the cryptocurrency market. The latest measures weighed on the major cryptocurrencies with Bitcoin dropping below the key psychological support level of ,000 which had held since the ‘flash crash’ in late May. Thoughts from the analysts. Some analysts have argued that dropping below ,000 could lead to further losses for Bitcoin and other major cryptocurrencies.

Since Bitcoin is a purely speculative asset, this price is determined by how little sellers are willing to charge and how much buyers are willing to pay. Due to market inefficiencies, it’ s possible that Bitcoin is traded for different prices at the same time in different parts of the world. This discrepancy can increase if it becomes harder for buyers in a certain geographical location or using a certain currency to buy Bitcoin .

Other cryptos, including Ethereum, XRP and Cardano, also fell Tuesday.

Dogecoin, the joke crypto launched 2013 as a parody of Bitcoin and flogged by Tesla CEO Elon Musk in playful tweets, dropped 11.32% to $0.19.

Beijing last week ordered cryptocurrency miners to halt operations in Sichuan province where as much as 65% of the world's Bitcoin mining activity is centered. The communist party-backed Global Times said about 90% of China's Bitcoin mining capacity has been shut down.

Ulrik K. Lykke Executive Director at crypto/digital assets fund ARK36, said China's action has reduced the hash rate, often viewed as an indicator of global confidence in Bitcoin.

Hash rate is a measure of how many calculations per second are performed to maintain Bitcoin's worldwide network.

Why China is getting tough on crypto

  Why China is getting tough on crypto Cryptocurrency prices have fluctuated wildly in recent weeks as China intensifies a crackdown on trading and mining operations. On Monday bitcoin slumped more than 10 percent after Beijing pulled the plug on the massive mines of Sichuan province. China's regulatory assault on the digital currency has crypto watchers reaching for answers as to why Beijing is clamping down now and what it means for the market. - Why the crypto crackdown? - BeijingOn Monday bitcoin slumped more than 10 percent after Beijing pulled the plug on the massive mines of Sichuan province.

Clearly, options traders are pricing in a big move for Virgin Galactic shares, but what is the fundamental picture for the company? Currently, Virgin Galactic is a Zacks Rank #4 (Sell) in the Aerospace – Defense industry that ranks in the Bottom 29% of our Zacks Industry Rank. U . S . stocks trade moderately higher Tuesday, attempting to build on a sharp rebound in the previous session as investors await congressional testimony by Federal Reserve Chairman Jerome Powell.

Bitcoin plunges below ,000 for first time since January . The world’ s top digital asset, bitcoin , has suffered a daily plunge of over 11%, dragging the cryptocurrency down to its lowest level this year – ,993 as of 13:54 GMT on Tuesday, according to data tracked by CoinMarketCap. The plunge comes a day after the People’ s Bank of China, in a further extension of its nationwide crackdown on cryptocurrencies, summoned banks and payment companies and ordered them to stop facilitating crypto transactions.

"This is not the first time Chinese policies have administered a shock to the markets and will unlikely be the last," he said in a note to Newsweek from the company's headquarters in Cyprus. "What we think is noteworthy is that worldwide miners continue to generate, on average, $30 million daily, which shows the industry is still highly profitable."

Miners attempt to solve complex hexadecimal puzzles to refresh the blockchain, the unbreakable record of transactions. Successful efforts are rewarded with new Bitcoin.

Lykke said China's decision to shut down Bitcoin mining operations simply means enterprising miners will go elsewhere.

Despite roiling the market, China's decision to close its mining operations could have a positive long-term effect.

"In the long-term, these conditions can be net-positive," Lykke said. "As miners spread to other locations, they will likely choose places with secure access to cheap energy. As a result, hash rate will start recovering, and the network will become even more stable and more decentralized."

#Dogecoin Trending Amid Crypto Crash As Fans Share 'Hodl' Memes

  #Dogecoin Trending Amid Crypto Crash As Fans Share 'Hodl' Memes The meme cryptocurrency token has dipped under $0.20 over the past 24 hours, and is down more than 70 percent from its all-time-high in May.The token was down more than 20 percent on Tuesday morning, worth just over $0.20. The token fell as low as $0.1665 in 24 hours, its lowest price in at least 30 days, CoinMarketCap data showed.

Bitcoin dipped briefly below ,000 on Tuesday first time since January . The world' s largest cryptocurrency slumped as low as ,814 on Tuesday, a Bitcoin or Ethereum, along with traditional money , will be accepted as payment. 'I'm saying that this is not going up because of structural reasons,' said Cramer, citing China' s crackdown on miners and fears that Bitcoin ' s use by ransomware extortionists would lead to backlash in the U . S .

Ruud Feltkamp, CEO at trading bot Cryptohopper, said uncertainty created by China's action is driving the market down.

"China is rolling (out) its own cryptocurrency and has every incentive to have as little competition as possible," he said in a note to Newsweek.

China is testing a digital yuan in select cities and shutting down Bitcoin mining operations may be an effort by the government to preserve its monopoly in issuing currency.

Some analysts believe China's new digital currency may compete with the dollar.

The People's Bank of China has urged Alipay, Alibaba's payment service, and some major financial institutions not to provide account openings, clearing and settlement services for Bitcoin, according to press reports.


Video: Bitcoin drops and hits lowest level since February 3, 2021 (Daily Mail)

Alibaba is China's Amazon.

In the past, Chinese traders moved yuan to a platform like Alipay or a bank to purchase cryptocurrencies. The action by the People's Bank of China appears to be an effort to halt the practice.

Financial Inclusion Thanks to Bitcoin brings banks in distress

 Financial Inclusion Thanks to Bitcoin brings banks in distress in our weekly New Finance Briefing for T3n-Pros today is about how bitcoin facilitates access to the financial system and ensures inclusion. © t3n.de Financial inclusion thanks to Bitcoin brings banks in distress one of the arguments that speak according to KryptoBeuramen for Bitcoin is the possibility to keep assets safe and without external influence. How can the crypto currency actually ensure that around 1.7 billion people without bank account benefit from decentralized technology and finan

The drop in Bitcoin's has stoked fears of a bear market because there didn't appear to be significant activity Tuesday by those who buy and hold the crypto as a long-term bet on future price appreciation.

Nevertheless, CoinFlip, a provider of Bitcoin ATMs, is betting on the crypto's future in an unusual place—the 49th state. The Chicago-based company announced plans to expand into Alaska by installing three machines in Anchorage. The ATMs will allow users to purchase Bitcoin, Ethereum, Dogecoin and six other cryptos with cash.

This is good PR, but even if the company doubles the number of ATMs by the end of the summer as planned, the service is unlikely to generate a torrent of fees.

Anchorage, Alaska's largest city, has a population of about 288,000. Alaska is about 118% the size of Texas, but its population of 724,000 is about 44% of Manhattan's 1,632,000 residents.

In mid-day trading Tuesday, Bitcoin changed hands at $32,220.25, down 2.17% in the last 24 hours but up 3.76% for the year. The 24-hour range is $28,814.75 to $33,247.79 The all-time high is $64,829.14. The current market cap is $603.79 billion, CoinDesk reported.

MarketPulse

Foreign Direct Investment (FDI) dropped about one third worldwide during the COVID-19 pandemic, but is expected to rebound with the U.S. remaining the top destination for overseas money in 2021 and 2022, the United Nations said in a report.

FCA bans world's largest crypto-currency exchange

  FCA bans world's largest crypto-currency exchange The financial watchdog has ruled that Binance cannot conduct any regulated activity in the UK. While the FCA does not regulate crypto-currencies, it does regulate cryptoassets. Firms must be authorised by the regulator in order to advertise or sell such products in the UK. This means that people in the UK are not allowed to use Binance's services to speculate, or bet, on whether the price of a crypto-currency like Bitcoin goes up or down.

Washington's massive spending programs and the economy's strong rebound combined to keep the U.S. the top beneficiary of overseas investment.

The coronavirus pandemic slashed foreign investment in the U.S. to $156 billion last year from $261 billion in 2019.

Worldwide, FDI fell to about $1 trillion in 2020 from $1.5 trillion the previous year.

"These investment types are crucial for productive capacity and infrastructure development and thus for sustainable recovery prospects," Isabelle Durant, acting secretary-general for the United Nations Conference on Trade and Development, said in a report.

Following the U.S. in 2019 and 2020 as top destinations for foreign money were China, Hong Kong, Singapore, India, Luxembourg, Germany, Ireland, Mexico and Sweden, the UN said.

Recently announced foreign investments in the U.S. include an Australian company expanding a steel mill in Ohio and British drug company AstraZeneca's plans to purchase Boston-based Alexion Pharmaceuticals for $39 billion in cash and stock.

In general, foreign companies invested heavily in major U.S. metropolitan areas.

The top areas benefiting from foreign investment were New York, Chicago, Atlanta, Philadelphia, San Francisco, Los Angeles, Indianapolis, Houston, Dallas and Detroit, the U.S. Bureau of Economic Analysis (BEA) said.

"(Metropolitan Statistical Areas) designated as global cities are different from other cities in several notable ways – for example, they tend to be more populous, have higher GDP, and have more ethnically diverse populations," the BEA said. "Global cities, in addition to being much more populous than other cities, have higher GDP per capita, wages, education, diversity and a greater presence of advanced producer services."

A metropolitan statistical area is a city and surrounding communities linked by social and economic factors as defined by the U.S. Census Bureau and Office of Management and Budget.

In March 2020, there were 384 MSAs in the U.S.

The worldwide recovery in FDI will be uneven, the U.N. said. Developed nations will drive the recovery due to mergers and acquisitions while developing nations will lag.

"A substantial recovery of FDI to Africa and to Latin America and the Caribbean is unlikely in the near term," the U.N. said.

The U.S. economy has rebounded quickly from the pandemic lockdown intended to curb spread of the coronavirus, making it attractive to foreign investors.

The Federal Reserve, the nation's central bank, believes the economy will grow about 7% this year. So far, Congress has approved about $6 trillion in stimulus spending.

U.S. households have piled up about $2.6 trillion in savings and appear eager to spend.

Retail sales are strong. Consumer spending represents about two-thirds of the U.S. economy. Inflation has increased, but the Fed expects it to ease next year.

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Softbank is $ 200 million in Brazilian cryptobörse Mercado Bitcoin .
With $ 200 million, Softbank rises in the largest cryptobörse of Latin America. The fresh capital raises the market value of the 2TM Group, the operator of the Mercado Bitcoin Stock Exchange, to 2.1 billion dollars. © Mercado Bitcoin Mercado Bitcoin is the leading crypt beading in Latin America. The most recent softbank investment promotes the 2TM Group in Rank 8 of the most valuable unicorns in Latin America.

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