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Bitcoin bottomed after a textbook 20% selloff, and a new uptrend is likely underway, Fundstrat’s Tom Lee says

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Bitcoin's recent sell-off looks to have found support and a new uptrend is "likely underway," Fundstrat's Tom Lee said in a note on Wednesday.

The most valuable cryptocurrency sold off more than 20% in recent weeks after topping out just below $65,000 amid the Coinbase IPO. Bitcoin broke below $50,000, which represents a key psychological level for investors, but has since recovered and is trading near $55,000 as of Wednesday afternoon.


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European Central Bank Points To Privacy As Pivotal In eMoney Future

european central bank

What people want most from digital currency is privacy, the European Central Bank (ECB) said in its report from public consultations about the possibility of a central bank coin.

The ECB said that 43 percent of the respondents pointed to anonymity as a main requirement for any digital currency. People also stated that any digital euro should also be integrated with the methods and resources already being used for payments and other financial services. 


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Tesla urged to review its payment practices after two Australian buyers lose thousands to scammers

tesla

When Andrea Hammond decided to buy a Tesla 3 electric vehicle, her choice was not about the car's slick design or prestige badge.

"Spending that amount of money was not an easy decision, but my commitment to wanting to drive without polluting the atmosphere was my motivation," she said.

"The Tesla cars seemed to stack up in terms of being a car that I could drive for the rest of my days."


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Coinbase, A Bitcoin Startup, Goes Public. Is Crypto Really The ‘Future Of Finance’?

Coinbase, a San Francisco startup that allows people to buy and sell digital currency, became the first major cryptocurrency company to go public when it made its stock market debut on Wednesday.

Trading began around $381 a share, pushing the company's valuation close to $100 billion. That's about what Facebook was worth when it had its initial public offering in 2012.


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China Creates its Own Digital Currency, a First for Major Economy

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A thousand years ago, when money meant coins, China invented paper currency. Now the Chinese government is minting cash digitally, in a re-imagination of money that could shake a pillar of American power.

It might seem money is already virtual, as credit cards and payment apps such as Apple Pay in the U.S. and WeChat in China eliminate the need for bills or coins. But those are just ways to move money electronically. China is turning legal tender itself into computer code.


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Bitcoin Volatility Decreasing as Price Movement Begins to Mirror Gold, Analyst Says

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The price of Bitcoin rose 100.8% in the first quarter and has increased 447.2% since October 2020, but reduced volatility may be the key to future price rises, analysts believe.

U.S. stocks gained 6.4% in the first quarter of 2020, while bond yields rose 3.6% and gold fell 10.3%.

"In the context of Bitcoin's historical returns, which have been quite remarkable, this period stands out as notable," Greg Cipolaro, global head of research at New York Digital Investment Group, said in a research report.


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Bitcoin And Crypto Market Smashes Through $2 Trillion As The Price Of Ethereum, Binance Coin, Litecoin And Ripple’s XRP Suddenly Soar

ethereum-congestion

Bitcoin and cryptocurrency prices are soaring, pushing the value of the entire cryptocurrency market over $2 trillion for the first time (though some think the bull run could be just getting started).

With the bitcoin price hovering around $60,000 per bitcoin, the psychological $2 trillion barrier was broken by sharp increases in the price of smaller cryptocurrencies ethereum, binance coin, Ripple's XRP and litecoin, according to data from crypto price website CoinGecko.


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Hedge Fund Manager Ray Dalio Thinks Bitcoin Could Be Outlawed

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Billionaire investor and the world’s biggest hedge fund founder Ray Dalio said that the history of money has left hints that bitcoin could face being outlawed by the U.S. government, just as gold was in 1934.

“I think that it would be very likely that you will have it, under a certain set of circumstances outlawed, the way gold was outlawed,” he said on the podcast Influencers with Andy Serwer on Friday (March 26). Serwer is editor in chief for Yahoo! Finance.


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Why Bitcoin Is a Better Risk Bet Than a Stack of Penny Stocks

nasdaq_2020

Bitcoin is getting boring at a time when annualized 30-day volatility as of Thursday’s close has seen a sharp downward dip, in a March with its own type of (weather) volatility.

To emphasize the point, have a look at the chart above, which shows the volatility of bitcoin daily returns for the past month. To be fair, I’m employing a little chart crime here, starting the y axis at 40% in order to accentuate the drop between March 24-25, as all but the last days of February have disappeared from the 30-day look-back on the CoinDesk Bitcoin Price Index.


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Cristiano Ronaldo becomes the first player rewarded with cryptocurrency tokens

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Cristiano Ronaldo received 770 Fan Tokens $JUV ahead of Juventus' match against Benevento on Sunday as a way of marking his record-breaking goal milestone.

It's the first time a footballer has been rewarded with cryptocurrency, which is becoming prominent in terms of fan interaction in the game.

Fan Tokens $JUV allows Juventus fans to interact with their club and participate in various decisions through the Socios app.


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