Must Read : 5 Reasons for Bitcoin’s Skyrocketing Price in Just 24 hours
The coronavirus pandemic has forced the global economy to move towards the digital world. Bitcoin, one of the world’s largest cryptocurrency by market cap has been on a bumpy road since its creation in 2008. The price swings can tell a lot about how traders view the prospects of a particular holding. And in recent months, the ride has been wild for bitcoin amidst the pandemic.
But now, Bitcoin is enjoying the bull ride after the price surpassed $10k heading towards mainstream in a full swing.
Today’s Coinpedia’s report is based on Bitcoin’s market cap, the reasons behind the Bitcoin’s price surge, critics from top Greek politician, Cryptokanoon’s co-founder view on Crypto regulations in India and digital currency launch by a Crypto-favored country.
#1 Bitcoin market cap Shines at $200 Billion.
In recent development, the market cap of Bitcoin has exceeded $200 billion with over $35 million daily volume. The bitcoin trust value of Grayscale, one of the largest digital asset management funds, has also surged over $1 billion which was $3.36 billion in May 2020. Read why Bitcoin also gains critics along with the momentum.
#2 Bitcoin surged above $10k in just 24 hours. But why?
Bitcoin price soared above $11000 for the first time since 2019, but yet again fell below the mark. From the time, the price seems to have been maintained above $10900. Speaking on market scenario, there can be no solid reasons that might have been the reason for the surge. However, the analyst and market researchers suggested possible reasons. Read more
#3 Bitcoin to witness a massive bubble around it?
Yanis Varouakis, a Greek politician and former Finance minister, responding to the open letter sent to him by Bitcoin socialist Ben Arc, says he was previously a blockchain admirer and continues to be but bitcoin fails to impress him. Presenting another theoretical evidence on his disapproval of Bitcoin, Yanis explains that a massive bubble would be built on bitcoin if it takes over Fiat currency. Read to know why?
#4 “Crypto Ban In India Can Be Challenged” says Mohammed Danish.
Amid all chaos that surrounded crypto regulations in India, the country’s trusted crypto regulatory media platform, Crypto Kanoon filed the RTI, seeking the bottom reality of the Cabinet Note on Crypto ban in India. While in an interview with Coinpedia Mohammed, one of the co-founders of CryptoKanoon, said “If the Govt. decides to pass a law banning Crypto, this law can be challenged based on various rights available to them under the Constitution.” Read the excerpts from the interview to know more.
#5 Philippines To Bring In Its Own Digital Currency.
The cryptocurrency and blockchain adoption around the world has led to the digitalization of currency in many countries. After China, The new member joining these countries would be the Philippines. Recently, the Governor of the Central bank of the Philippines, Benjamin Diokno, during a virtual briefing said that the bank has set up a committee to look into the virtual currencies. Read to know the prime objective of the committee and digitalization of currency around the world
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