Connect with us

Crypto

Why Bitcoin’s popularity could soon fade away

Published

on

Bitcoin's popularity could soon fade away

Bitcoin’s smaller rivals are eroding its share of the $2 trillion digital currency market

Of the dozens snapping at its heels, most alternative coins have little use beyond financial trading, but very few investors seem bothered.

It’s led to analysts to raise a question “could bitcoin die” ?

Rise of alt-coins and more hate from Musk?

As the rise of Shib Coin, Dogecoin and Ethereum continue at rapid speeds, and Elon Musk swings some hate for Bitcoin’s environmental impact, the number one crypto could become a memory.

Ethereum, the worlds second largest digital currency has risen to all time highs over recent months, as investors gain momentum behind the crypto created by Vitalik Buterin.

Ether – as it’s also known by, has risen beyond $4,000 USD.

According to Forbes, an expert panel of crypto investors has predicted that the world’s second-largest crypto will rise to $20,000 by 2025.

The prediction comes due to the “major upgrades” that are set to be made to the Ether network potentially pushing it higher.

The rise of Shib Inu Coin

The “Shiba Inu coin” also known as SHIB coin or $SHIB is rising in popularity. Much like Dogecoin – it started out as a meme, but now crypto investors are seeing some potential.

Shiba was founded by the mysterious Ryoshi, in 2020. 

Shibu Inu coin can be bought as tokens directly from their website, or through popular third parties like the Uni-swap platform.

What about Dogecoin?

Doge took a hit in recent weeks after Tesla CEO Elon Musk referred to it as a ‘hustle’ on live TV.

At the same time however, the billionaire has been vocal with his support of the crypto, going as far as tweeting a poll if Tesla should accept Doge as a payment method.

“Do you want Tesla to accept Doge?” 

– Elon Musk tweeted

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Crypto

Should you be staying away from crypto?

Published

on

Major investment banking firm, Goldman Sachs has warned its consumers to stay away from cryptocurrencies as the price of Bitcoin soars above USD$40,000 for the first time in weeks.

In a report released by the Sachs’ Wealth Management Division, the company says digital coins are “not a viable investment”

Goldman Sachs cites high energy consumption associated with mining coins as a reason to avoid the sector.

The report also details the possibility of technological advances which may make blockchain technology redundant and the risk of greater regulatory oversight.

The report says “after analysing various valuation methodologies and applying our multi-factor strategic asset allocation model, we have concluded that cryptocurrencies are not a viable investment for our clients’ diversified portfolios.”

“Musk sends one tweet and moves the dial entirely”

Meanwhile, Market Strategist Daniel Weiner joined Ticker News earlier and spoke about Elon Musk’s latest tweet that sent Bitcoin soaring.

More than four million Australians will invest in Crypto in the next four months.

Looking at the number’s, cryptocurrencies are on the rise.

That’s the consensus of a new survey of 1,027 Australians by global researcher YouGov, published by The AFR.

More than four million Australians are likely to buy crypto currencies like Bitcoin in the next 12 months, according to the published research.

One in five Australians “have owned cryptocurrency at some point”, and some 14 per cent currently holding an exposure in their portfolio.

Where is Crypto sitting in the markets?

Bitcoin tests $40K levels following positive comments from Tesla’s CEO Elon Musk and hedge fund manager Paul Tudor Jones.

The world’s largest cryptocurrency by market capitalisation is up about 20 per cent over the past e seven days.

Meanwhile, the S&P 500 rose 0.2% to a record high as of 4:03 p.m. New York time and the Nasdaq 100 rose 0.9% to a record high.

The Australian sharemarket has shot higher at the open, soaring to a new intraday record high during the opening minutes of trading.

Financials dropped as JPMorgan Chase Chief Executive Officer Jamie Dimon suggested Wall Street’s pandemic-era trading boom could be drawing to a close.

Continue Reading

Crypto

Bitcoin on the rise again

Published

on

Bitcoin is recovering after a very bad week

Bitcoin has surged 9.8 percent to over $39,000

The digital currency has once again proved how volatile it is, following another tweet from Elon Musk.

Musk stated that Tesla would restart transactions with the cryptocurrency when mining is done with more clean energy. 

“When there’s confirmation of reasonable (~50%) clean energy usage by miners with the positive future trend, Tesla will resume allowing Bitcoin transactions,” 

– Musk sais in a tweet.

The crypto, which has been volatile in recent weeks, added $3,490 to its previous close.

The bounce follows El Salvador voting to make Bitcoin legal tender.

Continue Reading

Crypto

China crypto crackdown sees over 1,100 arrested

Published

on

Police in China have arrested over 1,100 people on money-laundering charges, claiming they used cryptocurrency to help them evade the law. 

The arrests come as authorities in China step up their crackdown on cryptocurrency trading.

Reports say the money launderers charged their criminal clients a commission of 1.5% to 5% to convert illegal proceeds into virtual currencies via crypto exchanges.

Last month, three industry bodies banned crypto-related financial and payment services, and the State Council vowed to clamp down on Bitcoin mining and trading.

The public security ministry confirmed police had busted more than 170 criminal groups involved in using cryptocurrencies to launder money.

The money launderers charged their criminal clients a commission of 1.5% to 5% to convert illegal proceeds into virtual currencies via crypto exchanges.

China continues crackdowns

China’s State Council ordered a tough crackdown on telco fraud in October 2020.

Executives from two of the largest crypto exchanges that provide services to Chinese investors assisted police with their inquiries.  

Continue Reading

Trending on Ticker

Copyright © 2021 Ticker Media Group Pty Ltd