Beyond Words
Cryptocurrencies have experienced a significant decline in value over the past year. There are several significant reasons why the market has experienced such a downturn. Let’s take a look the truth on why crypto is down.
Russian President Vladimir Putin signaled tolerance of cryptocurrencies, which are drawing increasing scrutiny from regulators around the world amid fears they can be used for money laundering and criminal activity.
Miami Mayor Francis Suarez has recently made a statement that it is “a major priority” for the city of Miami to create an overflow that would allow municipalities to pay its employees in Bitcoin, according to Bloomberg. Suarez has said that they are looking forward to becoming the “crypto capital of the United States.” The goal will be reached by the implementation of a progressive path of Bitcoin adoption.
The latest data compiled by the Cambridge Center for Alternative Finance (CCAF) suggests that the U.S. has replaced China as the country with the biggest market share of Bitcoin’s hash rate.
Bill Miller, the legendary Australian investor, said that he bought Amazon shares at $17 over 20 years ago. He also bought bitcoin at an average price of $500. He also said that the most altcoins would not survive long-term.
Should this be taken as a sign that Bitcoin is outdoing the dollar in El Salvador?
Forget gold, institutions are piling into bitcoin (BTC) to hedge against raging inflation.
Bitcoin’s ROI has outperformed gold, silver, and Wall Street’s indexes S&P 500, Nasdaq, Apple, Facebook, Tesla, and others since the beginning of the year.
The Securities and Exchange Commission (SEC) will soon make its decision on a set of Bitcoin futures exchange-traded funds (ETFs) applications that are awaiting its approval.
According to a Bloomberg report published on October 8, as many as 4 different bitcoin futures exchange-traded funds (ETF) could see the light of day this month.
Crypto-friendly Wyoming Senator purchased a substantial amount of Bitcoin back in August, an overdue filling revealed.
The Central American country that approved Bitcoin to be used as a legal tender back in September, El Salvador, has now gains of $4 million from The Bitcoin Trust approved by the Congress in August.
The state of crypto regulations in the United States remains uncertain as lawmakers take sides on the necessity for tough rules. The US Securities and Exchanges Commission (SEC) chief Gary Gensler along with Treasury Secretary Janet Yellen are lobbying for strict measures while the likes of SEC commissioner Hester Peirce and Wyoming Senator Cynthia Lummis are fighting for clear regulations that would ensure the growth of the crypto ecosystem.
A former candidate in the American Democratic Primary showed support for Bitcoin after announcing his new political party.
Bitcoin’s move to $55.3k filled the market with euphoria, partially overshadowing Ethereum’s 5% gains in two days. While the top altcoin made slower moves inching north, the anticipation of a slow and steady rally strengthened across the market.
Bitcoin is having a great start in Q4 as institutional confidence in the cryptocurrency returns with high weekly inflows of $68 million.
Real Vision CEO and macro guru Raoul Pal thinks crypto’s overall market cap still has a gigantic amount of room to grow.
A high-profile Colombian politician has suggested the country look to El Salvador for inspiration and mine Bitcoin using renewable energy—instead of producing cocaine.
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Why Is Crypto Down? The Truth. 
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