Bitcoin is unwinding in a similar fashion to the Nasdaq during the dotcom bubble nearly two decades ago, but the pace is 15 times faster, global investment firm Morgan Stanley said. The firm's strategist Sheena Shah said in a client note that the Nasdaq in 2000 and Bitcoin now, both rallied 250 to 280 percent during their peaks ahead of a market downturn. more...
Bitcoin transaction fees is cheaper now, as three of the most popular cryptocurrency exchanges have slashed their withdrawal fees rates by up to half. Binance, Bitfinex, and Kraken have enabled SegWit (Segregated Witness), a process to increase block size limit, and capacity to add more transactions. Transaction batching is another method being adopted to help them significantly reduce fees. more...
The first meeting of the G20's Digital Economy Task Force is being held in Buenos Aires on February 8 and 9. German and French finance ministers and central bank governors have sought joint action by the G20 group of advanced and developing countries to tackle the risks posed by cryptocurrencies, reports said Friday. In a letter to the finance minister of Argentina, which holds the G20 presidency now, they have asked the matter to be placed ...
The Northern Territory Racing Commission (NTRC), the Australian regional gambling regulator, is set to ban gambling using cryptocurrency in Australia. NTRC is against adding cryptocurrencies to Australian Gambling Websites. The chairman of the NTRC has reportedly sent out an informal email to all sports bookmakers and betting exchange operators in the Northern Territory asking them to immediately cease and desist from transacting in cryptocurrency. ...
Global investment giant Goldman Sachs has warned its high networth clients that Bitcoin's price surge has pushed the virtual currency it into the bubble territory, that dwarfs the past bubbles in dot-com companies and tulip bulbs. Still worse, the price rise in Ether, the second largest cryptocurrency in market cap, dwarfs even Bitcoin's jump, the bank added in a client note. more...
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