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Cryptocurrency abyss: Digital Investors Lose Billions of Dollars

The cryptocurrency market is going through hard times. Yesterday it became known that the price of bitcoin dropped below the $27,000 mark, actually returning to the state of the end of 2020. Other crypto assets show similar trends. At the same time, the largest stock exchanges of the world also bear risks. In particular, Coinbase, after providing ...

IMF urges El Salvador to abandon bitcoin

... Salvador, 40-year-old Nayib Bukele - he is sure that bitcoin will help the country attract investment and improve the standard of living of the local population. El Salvador became the only country in the world that provided the official status for cryptocurrency. The country purchased about 1,800 bitcoins at a rate of $50,000. After that, the rate rose to 68 thousand dollars, but now it has fallen to 36.5 thousand dollars. According to the publication, El Salvador could have lost about $ 20 million. In addition, the country is actively mining ...

Authorities of Laos allowed several companies to settle with cryptocurrency

... that several departments, including the Ministry of Finance and the National Bank, will take up the work on the document. The results of the activity are planned to be discussed in mid-September - then the question of the further fate of the use of cryptocurrency in the republic will be decided. At the same time, Laos was not the first country to adopt new forms of settlement. In early September, the official use of bitcoin was announced in El Salvador. The authorities believe that such a measure will give the national economy a powerful impetus for development. However, this optimism was not shared by the residents of the country, who actively opposed the introduction ...

KAZAKHSTAN HAS BECOME ONE OF THREE BITCOIN MINING LEADERS

And the share of China's mining fell by almost 50%. This is due to the transition of the majority of earners to another state, anticipating the coming onslaught on the industry. Now about 46% of bitcoins in the world ranking are mined in China, although two years ago it was the leader - it mined over 75%. It was stated by the CNBC, which referred to a study conducted by the University of Cambridge. Neighboring Kazakhstan was able to improve its ...

TWO SOUTH AFRICAN BROTHERS HAVE STOLEN $3.6 BILLION IN BITCOINS

... regulators in many African countries can step up their efforts to put things in order with the cryptocurrency, believe the expert. In January 2021, the cost of trading digital assets exceeded $ 141 million (R 2 billion) in South Africa alone. After the bitcoin rate rose sharply last year, the current 69-thousand coins scam could become the largest cryptocurrency scam ever.

SICHUAN MINERS ARE BANNED FROM MINING CRYPTOCURRENCY

... actively working in the Chinese province of Sichuan - it was possible thanks to cheap electricity and the absence of restrictions from the authorities. However, now it has been decided to stop their activities. Sichuan was one of the key centers for cryptocurrency mining - 26 companies officially operated in the region. But now the local energy bureau, along with the authorities, has approved measures to restrict the work of miners. Large mining companies will have their electricity cut off on June ...

RUSSIANS RANKED 5th IN TERMS OF GAINING PROFIT FROM BITCOIN

... amounted to $ 4.1 billion, is an absolute leader. According to analysts, this situation occurred due to the large influx of cryptocurrency to American exchanges at the end of 2020, reports RBC. During this period, against the backdrop of the growth of cryptocurrency, investors from many countries began to acquire bitcoin, while American crypto investors went the other way, selling cryptocurrency as its quotes grew. According to surveys conducted by the specialists of the American Gemini Exchange, 14% of Americans have crypto investments, 13% more expressed their ...

ELON MUSK SAYS TESLA HAS SUSPENDED ACCEPTING BITCOINS FOR VEHICLE PURCHASES

... The entrepreneur linked this decision with the mining of cryptocurrency, which is now carried out, including with the help of coal. Musk expressed his concern over the fact that environmentally damaging fossil fuels are increasingly being used for Bitcoin transactions. Musk mentioned the promising future of cryptocurrency, adding that Tesla cannot afford to harm nature in this way. In addition, the company made a decission to suspend the sale of its own bitcoins and use them for various kinds of operations. This situation, according to the head of the corporation,...

ANALYSTS: THE PRICE OF BITCOIN MAY RISE UP TO 400 THOUSAND DOLLARS

... within a year. He also tweeted that digital currency can be converted into a low-risk asset. McGlone has posted a diagram showing the rise of Bitcoin since 2010. He noted that at the moment, the situation on the market resembles 2013 and 2017, when the cryptocurrency reached its peaks. The analyst is confident that the next year will be a turning point for Bitcoin. McGlone believes that bitcoin will soon become a protective low-risk asset, and in the future, it may be transformed into a global reserve asset. He added that according to the analytical group, after the rise in 2021, the cryptocurrency will ...

BANKRUPTCY OVERTOOK THE VOYAGER DIGITAL CRYPTO-LENDER

... all of its value along with its paired token. Cryptocurrency prices began to fall at the end of last year on expectations that the Fed would take a softer stance on the inflation outlook, and rising interest rates hurt the industry and its prospects. Bitcoin, the largest and most well-known cryptocurrency, fell by 58% in the first six months of 2022, which is the worst indicator of the first half of the year in history. Photo: Money photo created by freepik - ru.freepik.com

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