Yuan crypto bubbles
Some experts say that Bitcoin and cryptocurrencies are just a scam; others say they're "the most important invention since the internet. Authored by Silicon Valley leaders from Google, Microsoft, and Facebook, Bubble or Revolution cuts through the hype to offer a balanced, comprehensive, and accessible analysis of blockchains and cryptocurrencies. You'll learn the core concepts of Bitcoin and blockchain technologies to understand their strengths and weaknesses from real-world case studies; dive deep into their technical, economic, political, and legal complexities; and gain insights about their future from exclusive interviews with dozens of tech industry leaders. Are blockchains and cryptocurrencies like Bitcoin a bubble or a revolution? We'll help you decide for yourself.
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- China- and Hong Kong-based bitcoin holders scrambling to protect their crypto assets
- Article Info.
- Commentary: Don’t trust the hype – Bitcoin will never be a wise investment
- Yuan Pay Group
- China Blames Poor Investment Choices on Crypto Industry
- China is combating crypto with a push for the digital yuan
- Multiscale Systemic Risk and Its Spillover Effects in the Cryptocurrency Market
China- and Hong Kong-based bitcoin holders scrambling to protect their crypto assets
New York CNN Business Wild, stomach-churning moments are part of the experience when you buy a ticket to the crypto circus. But the past week's volatility was enough to make some of the crypto faithful wonder whether they've been bamboozled.
La Monica and Matt Egan contributed to this report. Did it just burst? More Videos Ethereum's year-old founder says we're in a crypto bubble. Strategist: Fed needs to protect economy, not the stock market. Is it too soon to buy the market dip?
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Stocks slide amid growing economic threats. Investments expert: Emphasize less cyclical assets in Volatility is baked into the nascent cryptocurrency market , but the digital assets' explosive growth in the past year has attracted hordes of amateur and professional investors looking for a quick profit. Many of them ride an upswing and get out, or panic sell when things turn sour, exacerbating gains or losses.
This week, a combination of factors, including government warnings about increased regulation and tweets from influential market mover Elon Musk, added fuel to an already jittery market. Read More. What happened?
The crypto market had been especially shaky for about a week before the crash on Wednesday. Musk added to investor anxiety last weekend with a pair of seemingly contradictory tweets about bitcoin that left investors scratching their heads.
Then the big crash came Wednesday, after Chinese officials signaled a crackdown on crypto use in the country. The central bank issued a warning to Chinese financial institutions and businesses not to accept digital currencies as payment or offer services using them.
The threat of increased regulation triggered a panic, and bitcoin plunged before rebounding slightly and leveling off. But a Friday statement from Chinese officials reiterating the need to crack down on cryptos beat bitcoin back down. Other cryptos were also in the red. Regulatory concerns. China has long had limits around crypto trading within its borders. Officials declared in that bitcoin was not a real currency and banned financial and payment institutions from using it.
Individuals can hold or trade cryptocurrencies, but major exchanges in mainland China have been shut down. On the surface, this week's statements simply underscored China's suspicion of cryptocurrencies generally. But they sent a clear signal that Beijing is not loosening its grip on the market anytime soon.
Authorities are also launching a state-backed digital yuan that would keep money flows under strict oversight. And it's not just China. On Thursday, Federal Reserve Chairman Jerome Powell warned about potential risks cryptocurrencies pose to the financial system. Powell also said the central bank would publish a paper this summer that will explore the implications of the US government developing a digital currency of its own.
A potential central bank digital currency "could serve as a complement to, and not a replacement of, cash and current private-sector digital forms of the dollar, such as deposits at commercial banks," Powell said. Bitcoin bounces back but the crypto turmoil isn't over.
The Treasury Department is also turning its attention to the crypto space. The future of cryptos. The week's wild swings were a test for cryptocurrency fans. Is it a bubble? Probably, according to ethereum co-creator Vitalik Buterin. In an interview with CNN Business this week , Buterin said he wasn't surprised by the crash, because he's seen it all before.
Article Info.
The Chinese Yuan has seen its largest monthly decline since August of , which comes on the heels of the Fed hinting at potential interest-rate increases. Additionally, this decrease was also caused by the PBOC cutting the fixing by 0. Bitcoin, on the other hand, keeps gaining momentum while these woes haunt the financial ecosystem. Cutting the fixing of the Chinese Yuan by another 0. Financial experts attribute this cutting to the strengthening US Dollar, which is set to an enormous monthly gain. In fact, the US Dollar may see its biggest gain since September of , and higher interest rates may be the result.
Commentary: Don’t trust the hype – Bitcoin will never be a wise investment
The cryptocurrency market has received immense consideration in media and academia since the beginning of because of its huge price fluctuation. This study focuses on Arab investors who invest in the cryptocurrency market by investigating the influence of behavioral finance factors on investment decisions in the cryptocurrency market. A quantitative approach was used by employing a snowball sampling method through questionnaires. The results show that herding theory, prospect theory, and heuristic theory have a significant effect on investors' investment decisions in the cryptocurrency market. This emphasizes the significant role of the proposed behavioral factors as determinants of the investors' investment decisions. This study contributes to the existing research by consolidating the results of different researches in this study. It also contributes to the investors' understanding of the dynamics of the cryptocurrency market and it enhances the ability to make informed decisions based on their understanding. The implication of the findings will prepare hit and run investors to be progressively prepared to stay in the cryptocurrency market and develop their abilities on the most proficient method to settle on sound venture choices. Furthermore, the findings of this study will encourage financial specialists to realize that information on the traditional finance theory is not adequate to excel in the cryptocurrency market. Cryptocurrencies ; Bitcoin ; Herding ; Prospect ; Heuristic.
Yuan Pay Group
In July, we introduced our commentary series focused on how Chinese government policies shape investment opportunities in China, in emerging markets and globally. Digital currencies are the focus of our fourth case study on how the visible hand of the Chinese Communist Party CCP creates significant disruption and opportunity. China has been cracking down on cryptocurrencies for years, but the enforcement has been inconsistent. As a result, investors have found workarounds and the market has flourished.
China Blames Poor Investment Choices on Crypto Industry
After the crash, the crypto space is divided. The crypto space looks back on a crazy week of trading. After the prices of Bitcoin and Co. For example, the crypto reserve currency managed to gain 33 percent within one day after a low of 30, US dollars. Currently, BTC appears to be consolidating around the 40, mark, although smaller breakouts are possible. Even if the worst seems to have been overcome so far, it is still too early to give the all-clear.
China is combating crypto with a push for the digital yuan
Yet although the weather may be cooling, activity in the non-fungible token space is at fever pitch. There are fewer such concerns when it comes to Bitcoin, which appears to have settled into a comfortable trading range — at least for now. Indeed, compared to NFTs, the original cryptocurrency is positively establishment — so rock solid that Twitter founder Jack Dorsey is building a decentralized exchange based on it. Human rights groups and others may be hot and bothered about the potential uses of e-CNY for snooping and suppression. Twitter founder Jack Dorsey is building a decentralized Bitcoin exchange platform through TBD, a new business venture by Square, his financial services and digital payments company. The second story has been decentralized finance DeFi , an ecosystem that has grown atop smart-contract blockchains — mainly Ethereum , with newcomers such as Solana and Ca r dano attempting to capture some of the market. DeFi focuses on innovation using products typically associated with traditional finance, such as derivatives, and on creating products that resemble equity or debt through the use of complex smart-contract functionality.
Multiscale Systemic Risk and Its Spillover Effects in the Cryptocurrency Market
New York CNN Business Wild, stomach-churning moments are part of the experience when you buy a ticket to the crypto circus. But the past week's volatility was enough to make some of the crypto faithful wonder whether they've been bamboozled. La Monica and Matt Egan contributed to this report. Did it just burst?
July 19 The Chinese government has made a number of policy moves that reiterate its stance against cryptocurrencies, especially bitcoin, indicating that strong enforcement and crackdown will lie ahead. It is sending a clear signal that the government means business in tackling its carbon emissions, with aims to meet net zero goals by , and by targeting areas of systemic financial risks. This marks the first time the highest level of the Chinese government has chosen to take a stance on bitcoin mining. Across China, bitcoin mining operations have shut down since the May announcement, especially in Xinjiang province where the majority of mines were located.
Economists and financial experts have struggled to explain the meteoric rise price to investors and to a public increasingly interested in the virtual currency. At first blush, this type of bubble appears to resemble a pyramid scheme that must inevitably collapse once all potential speculators have bought in. Bitcoin, however, has important features that differentiate them from other bubble-prone assets. The fact that the crash coincided with a change in policy from the Chinese government makes it even more likely that the special features of Bitcoin have played an important role in their use. The design of Bitcoin allows for almost completely secure and anonymous transactions. For the most part, the very nature of a Bitcoin transaction does this. Consequently, the currency has attracted substantial interest from users engaged in illicit transactions.
By Reuters Staff. BEIJING Reuters - Chinese conglomerate Fosun Group has made a foray into blockchain with an investment in the Shanghai startup behind Onchain, a local version of the much-hyped technology that underpins virtual currencies such as bitcoin. It is looking at applying the technology across its businesses, which are as varied as financial services and pharmaceuticals, Da said. It confirmed the latest investment closed last month and said the amount was in the tens of millions of yuan.
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