Digital Currencies incl NFT etc. 02; (Apr 21 - Feb 23)

[behappyalways]

There are now 100 Crypto Assets worth over $1 billion. That's a new record.
https://mobile.twitter.com/charliebilel ... 9444966405

[behappyalways]

Bitcoin and crypto markets crash on US crackdown reports
https://uk.finance.yahoo.com/news/bitco ... RG9ymqDah7

[winston]

Crypto has room for further corrections

by Andrew Wong

Since cryptocurrencies are not widely used to buy goods and services, their only function, as an investment, is to act as a hedge against major currencies depreciating.

Uunless China, the United States, Europe and other major nations strengthen their supervision over cryptocurrencies, or even restrict their use, Bitcoin will not become worthless.

Money may have been quietly moving from cryptocurrencies into energy and commodities .

Source: The Standard

https://www.thestandard.com.hk/section- ... orrections

[behappyalways]

https://mobile.twitter.com/leadlagrepor ... 6998414339

[behappyalways]

What are NFTs?
https://m.youtube.com/watch?v=NzalqK6HehI

[winston]

Largest Bitcoin fund dives to record discount amid crypto swoon

by Vildana Hajric & Katie Greifeld

The difference between the share price and the underlying value of the Bitcoin holdings is roughly negative 19% as of Thursday’s closing prices.

Grayscale Investments has sought to blunt the widening discount by buying back shares, and said earlier this month it’s “100% committed” to converting GBTC into an ETF.

It is “most likely to trade at a discount until it converts to an ETF,” said Mohit Bajaj, director of ETFs for WallachBeth Capital.

Source: Bloomberg

https://www.theedgemarkets.com/article/ ... ypto-swoon

[winston]

Keep clear of crypto and concentrate on commodities

by Andrew Wong

I still hold my opinion from last week that it will be no surprise if it goes down to US$30,000 in the short term, given that the cryptocoin was trading at that price at the start of the year, and as low as US$3,000 a year ago.

While the CRB Index reflects that commodity prices rose more than 70 percent over the past year, if you look a little deeper, you will find the index has only returned to its 2018 high.

This means there's room for a more than 50 percent increase to the levels reached in 2014.

Source: The Standard

https://www.thestandard.com.hk/section- ... ommodities

[winston]

A taxing week, with over US$200 billion wiped off cryptocurrency in a day

Bitcoin and other digital coins plunged on Friday, wiping over US$200 billion of the value of the cryptocurrency market.

Bitcoin plunges below US$50,000

Bitcoin and other digital currencies plunged on Friday as a proposed capital gains tax hike from US President Joe Biden led to a wave of selling. Bitcoin was down 7.3% at US$49,730, according to Coin Metrics data.

It’s the first-time bitcoin has traded below US$50,000 since early March. Ether fell to US$2,320, down 8%. XRP, the fifth-biggest cryptocurrency, plunged 16%.

Bitcoin rebounded late Friday to above US$51,000, wiping out more than US$200 billion of value from the entire cryptocurrency market, according to data from CoinMarketCap. The market has run up quite a bit overall.

Source: OCBC

[behappyalways]

https://mobile.twitter.com/litcapital/s ... 6944807940

[behappyalways]

Tesla will no longer accept Bitcoin over climate concerns, says Musk
https://www.bbc.com/news/business-57096305