Why Bitcoin Tumbled Below $8K

-
Bitcoin’s price briefly slipped below $8,000 on Thursday for the first time in three months, though the cryptocurrency is still more than double its level at the start of 2019.David Nage, principal at the Los Angeles-based money manager Arca Funds, discusses his views on this week’s price drop and whether price volatility in cryptocurrencies might turn off big investors.Nage believes that as an asset, bitcoin is akin to future-pointing equities like Netflix and Amazon. With the caveat that “we’re not in the business of price predictions,” Nage said.And while the next halving – a periodic reduction in bitcoin mining rewards, expected to occur around May 15, 2020 – is potentially bullish, both the technical and fundamental views point toward uncertain times ahead for BTC’s direction after its recent Sell-Off threw into question the long-term trend.  Read more
Location: Indore, India

Comments

Post a Comment

Popular posts from this blog

Ethereum (ETH) Forming Bearish Pattern, $186 Hold Key | Buy ethereum with fiat currency

-
Image
Ethereum cost is battling to move over the $192 and $195 protections against the US Dollar.It appears to be a head and shoulders design framing with help close the $188 and $186 levels.This week's key bullish pattern line is flawless with help close $188 on the hourly outline of ETH/USD (information feed by means of Kraken).Bitcoin is as yet confronting a great deal of obstacles close the $9,400 and $9,500 obstruction levels.Recently, there was a respectable ascent to buy ethereum with fiat currency over the $188 and $190 opposition levels against the US Dollar. In addition, ETH cost exchanged over the $192 obstruction zone and settled over the 100 hourly straightforward moving average.However, the value confronted a solid opposition close the $195 level and a high was framed close $195. There was a descending move from the $195 and the value exchanged beneath the $190 level.  Read more
Read more

Bitcoin a decentralized cryptocurrency

-
Image
To cut through some of the confusion surrounding bitcoin, we need to separate it into two components. On the one hand, you have bitcoin-the-token, a snippet of code that represents ownership of a digital concept – sort of like a virtual IOU. On the other hand, you have bitcoin-the-protocol, a distributed network that maintains a ledger of balances of bitcoin-the-token. Both are referred to as “bitcoin.” The system enables payments to be sent between users without passing through a central authority, such as a bank or payment gateway. It is created and held electronically. Bitcoins aren’t printed, like dollars or euros – they’re produced by computers all around the world, using free software. Read more  
Read more

British Tax Authority Updates Cryptocurrency Guidelines, says it is not money.

-
Image
The United Kingdom’s tax, payments and customs authority, Her Majesty’s Revenue and Customs (HMRC), has updated its cryptocurrency taxation guidelines for businesses and individuals. On Nov. 1, the U.K. government tax agency, which manages taxes alongside other financial policies, released tax guidance updates that further clarify its stance on how to buy bitcoin online   and buy erc20 tokens  involved with cryptocurrency will be taxed.   The guidelines set out HMRC’s view on cryptocurrency transactions, which taxes apply, how to file tax returns and accounting practices, among others. It also considers the taxation of exchange tokens, while stating that rules for utility or security tokens will be added in the future. Companies that buy or sell best erc20tokens online, mine, exchange tokens for other assets or provide goods or services in return for tokens are liable to pay for one or more different types of tax. Read more  
Read more