Another week, another ‘flash crash’. Cryptocurrencies seem to have followed in the footsteps of stocks with the fall in prices. Could the drop be a spillover from the Evergrande saga? Sure feels like it. Bitcoin and ethereum fell to as low as about US$40k and US$2.7k respectively. Regardless of the movement, hodlers hardly felt the pinch as both has bounced back more than 10% and are trading above US$44.5k and US$3.1k at time of writing. Paypal has completed the first international expansion of its cryptocurrency offering outside of the U.S. It is now available to customers in the U.K. They are able to buy, hold, and sell some major cryptos. Welcome mainstream adoption. El Salvador has recently bought the dip, adding another 150btc to its hoard after falling below US$45k. The country now holds 700 bitcoin. Is this the beginning for bitcoin to be an international reserve currency? We sure hope so.
An Evergrande slump
An Evergrande slump
An Evergrande slump
Another week, another ‘flash crash’. Cryptocurrencies seem to have followed in the footsteps of stocks with the fall in prices. Could the drop be a spillover from the Evergrande saga? Sure feels like it. Bitcoin and ethereum fell to as low as about US$40k and US$2.7k respectively. Regardless of the movement, hodlers hardly felt the pinch as both has bounced back more than 10% and are trading above US$44.5k and US$3.1k at time of writing. Paypal has completed the first international expansion of its cryptocurrency offering outside of the U.S. It is now available to customers in the U.K. They are able to buy, hold, and sell some major cryptos. Welcome mainstream adoption. El Salvador has recently bought the dip, adding another 150btc to its hoard after falling below US$45k. The country now holds 700 bitcoin. Is this the beginning for bitcoin to be an international reserve currency? We sure hope so.