Bitcoin to Rise to $20K This Year Spurred by Government Money Printing and Covid-19: Bloomberg

Bitcoin to Rise to $20K This Year Spurred by Government Money Printing and COVID-19: BloombergBloomberg has forecast bitcoin to reach its record high of $20,000, and possibly $28,000, this year. According to the company’s June Crypto Outlook report, “something has to really go wrong for bitcoin not to appreciate in value.” Bloomberg points to quantitative easing and the coronavirus pandemic as the fuel behind bitcoin’s maturity, particularly when benchmarked […]

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Japanese Finance Minister Shoots Down Plan to Cut Bitcoin Tax to 20%, Cites Crypto-Divide

Japanese Finance Minister Shoots Down Plan to Cut Bitcoin Tax to 20%, Cites Crypto-DivideJapan’s finance minister Taro Aso says he is opposed to reducing tax on bitcoin income to 20%, on par with stock dividends, arguing that most Japanese households find it difficult to invest in digital assets. The development suggests that Japan will uphold its current definition of cryptocurrency as miscellaneous income, whereby virtual currency is taxed […]

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US Regulators Target Bitcoin ATMs: 88% of the Funds Exit the Country via Machines

Bitcoin automated teller machines (BATMs) will become the next target for regulators, as world governments tighten screws on money laundering. According to Ciphertrace CTO John Jeffries, crypto-cash machines will attract “greater…regulatory focus” in a bid to rein-in alleged cross-border illicit financial transfers. Jeffries urged “the need for more uniform regulatory enforcement and compliance” as governments […]

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Bitcoin’s Flash Rally to $10,400 was “Fake”, Short the Cryptocurrency, Warns Renowned Trader Bollinger

Bitcoin's Flash Rally to $10,400 was "Fake", Short the Cryptocurrency, Warns Renowned Trader BollingerLong time trader John Bollinger has warned that bitcoin’s flash rally to over $10,400 on Monday was fake, adding that losses might be on the way. “This is a Head Fake at the upper Bollinger Band for $btcusd,” tweeted Bollinger, inventor of the Bollinger Bands indicator. A ‘head-fake’ trade happens when an asset price makes […]

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Hackers Move Another $800K in BTC Stolen From the 2016 Bitfinex Breach

Hackers Move Another $800K in BTC Stolen From the 2016 Bitfinex BreachAnother $800,000 worth of bitcoin from the Bitfinex hack of four years ago has been moved to an unknown wallet. Whale Alert reports that hackers transferred 77.64 bitcoin (BTC) on Tuesday, which amounts to $797,000 at the time the alert was issued. The thieves last moved about $255,000 or 28.4 BTC on May 22, in […]

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Bitmain Unveils Cheaper T19 Bitcoin Miner to Regain Lost Market Share

Bitmain Unveils Cheaper T19 Bitcoin Miner to Regain Lost Market ShareBitmain on Monday released the Antminer T19, a cheaper bitcoin mining machine, in an effort to regain lost market share. The Beijing-based company said the Antminer T19 has computing power or hashrate of 84 terahash per second (TH/s) and power efficiency of 37.5 joules per terahash (J/TH). The latest hardware is modeled after Bitmain’s more […]

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Bitcoin Fees Fall 60% While Transaction Count Declines

Bitcoin Fees Fall 60% While Transaction Count DeclinesBitcoin (BTC) average transaction fees dropped by nearly 60% in the last week, as the number of transactions queuing up to be processed on the network eased. According to data from Bitinfocharts, the cost of making a transaction over the Bitcoin blockchain fell to around $2.61 on May 28, down from just over $6.28 six […]

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South Korea to Start Taxing Bitcoin Profits in 2021

South Korea will start taxing profits from bitcoin (BTC) and other cryptocurrencies next year, according to local media reports. The taxation will also apply to bitcoin mining operations and income from initial coin offerings, should it be approved by Parliament. South Korea’s Ministry of Economy and Finance proposed the amendments to the existing tax law […]

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Grayscale: Central Bank Digital Currencies Will ‘Neither Replace nor Harm Scarce, Uncompromising Bitcoin’

Grayscale: Central Bank Digital Currencies Will ‘Neither Replace nor Harm Scarce, Uncompromising Bitcoin’Central bank digital currencies (CBDCs) pose no threat to Bitcoin’s value proposition, instead, they will spur its growth toward mass adoption. In a new report, Grayscale Investments said CBDCs will never replace BTC because unlike the top cryptocurrency, they can be inflationary and are open to manipulation by central banks CBDCs are merely digital versions […]

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Bitcoin Suisse: Users Can Now Trade Gold Against Bitcoin and Ethereum

Swiss crypto financial firm Bitcoin Suisse has added gold, silver, and platinum to its platform, allowing users to trade the precious metals against both bitcoin (BTC) and ether (ETH), as well as five other major fiat currencies. The precious metal trades are available for 24/7 trading with immediate cash settlement, the company announced on May […]

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