Day: February 17, 2021

Altcoins To Watch: EOS, NEO, ADA

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Dump of February 15 has proved again that even on the online markets bulls get exhausted running such a long distance. The market was able to recover quickly and on all major cryptocurrencies we have noted a large bottom wick on a 4H candle. In general, such price action clearly states that the bullish sentiment remains and buyers are ready to push the price higher after a short rest. Currently almost all major altcoins are following the same pattern and from the first glance it might look like a beginning…

Peter Schiff Admits Bitcoin Could Reach $100K After BTC Price Soars Past His Expectations – Markets and Prices Bitcoin News

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Gold bug Peter Schiff has revised his bitcoin prediction after the price of the cryptocurrency exceeded his expectations, reaching an all-time high above the $50K level. He now says, “I must admit that a move up to $100,000 can’t be ruled out.” Nonetheless, the long-term bitcoin skeptic warns that the price can also drop to zero and one should buy gold instead. Peter Schiff Now Predicts Bitcoin Can Reach $100K Euro Pacific Capital CEO and host of the Schiff Radio show, Peter Schiff, was mocked by the bitcoin community on…

SBI Investing 30 million in Digital Assets Bank Sygnum

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SBI is investing a whopping $30 million in the Swiss and Singapore based crypto bank Sygnum. SBI is set to undertake a key role in developing strategic fundraising for the digital assets bank Sygnum. Built on Swiss and Singapore heritage, Sygnum is rated trustworthy among its customers due to the company’s ability to provide a trusted avenue for clients to invest in the digital asset economy. Sygnum recently declared that the company has been able to acquire a whopping “eight-figure” United States dollar investment from SBI Digital Asset Holding a…

Sweden extends digital krona digital currency pilot until 2022

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Sweden’s central bank has extended an ongoing pilot aimed at creating a digital version of the Swedish krona until 2022, as was recently announced by the nation’s Riksbank. In combination with professional services firm Accenture, the “e-krona” pilot program was created to address what the Riksbank sees as “the marginalization of cash”: “The Riksbank sees potential problems with the marginalisation of cash and has therefore initiated a pilot project to develop a proposal for a technical solution for a central bank digital currency, an e-krona that can work as a…

Bitcoin volatility lower than 2017 levels as price smashes $51K

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Bitcoin (BTC) has hit a new high above $51,300 in a continuation of its bullish advance that begun in October 2020. According to Bloomberg, the current run is different from the 2017 bull rally that topped out below $20,000 in terms of volatility. Indeed, data from Woobull Charts puts Bitcoin’s 60-day volatility at 14.25%, a significant decline from the over 32% recorded at the zenith of the 2017 bull run. Bitcoin 60-day Volatility. Source: Woobull Charts However, in terms of realized volatility, Bitcoin’s price swings are still orders of magnitude…

Elon Musk and Binance CEO CZ Discuss Development of MarsCoin

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Both Elon Musk and Changpeng Zhao agree that the Mars economy should run on cryptocurrency. Tesla Inc (NASDAQ: TSLA) CEO Elon Musk has big plans for his Mars settlement. One of them is the development of the so-called MarsCoin – the crypto that the Mars economy would run on. Musk hopes to send the first humans to Mars as early 2024, with the ultimate aim of establishing a “self-sustaining city on Mars as soon as possible”. Soon after investing $1.5 billion in Bitcoin (BTC), Elon Musk started posting tweets about…

Banks increasingly interested in Bitcoin, says Elliptic co-founder

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Global banking institutions have been expressing more interest in Bitcoin (BTC) as the cryptocurrency consistently breaks new all-time highs, according to a new report. Tom Robinson, co-founder of major British crypto firm Elliptic, told The Telegraph Wednesday that his company saw a massive surge in Bitcoin-related inquiries from global banks. The executive noted a wave of Bitcoin-associated demand from United States-based banking institutions over the past two months. According to Robinson, several financial institutions in the U.S. “are seriously considering launching some type of cryptocurrency service.” British banks were the…

India Plans Twin Taxes on Exchanges and Traders Before Passing Crypto Bill: Report

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India is reportedly planning a short-term boost to its coffers by ensuring the nation’s cryptocurrency space is taxed before bringing in a ban on such assets. The government is likely to impose both personal income tax (IT) and the goods and services tax (GST) on gains from trading cryptocurrencies, according to a Wednesday report from Business Standard, one of the largest English-language newspapers in India. “Bitcoins will be categorized as financial services attracting 18% GST on fee commission collected [by exchanges] under this segment. Plus, [income tax] to be paid…