China warns Bitcoin is heading to zero but BoE looks on the bright side
Official Chinese national news media outlet warns readers that Bitcoin could go to zero value in order to dissuade them from investing in and using cryptocurrency. The Chinese government has capitalized on the violent downturn in the crypto market by warning crypto investors that Bitcoin prices are “heading to zero.” The South China Morning Post reported on June 22 that Chinese national news media agency Economic Daily had issued the warning about the largest cryptocurrency by market cap to further dissuade citizens from adopting the use of crypto.The Economic Daily report says the west is....
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Aiga Gosh is researcher in international law at the China University of Political Science & Law. In this article, she briefly examines China's economic history, its currency controls and the rise of bitcoin in the country. China's monetary policy and currency has largely been in mess for a long time. Only in 1994 did China manage to set a unified, official exchange rate abandoning a dual system, with both a fixed and a market rate existing side-by-side. It has tightly controlled the flow of capital across its border, which has enabled Chinese authorities to steer the economy and control....
The price of Bitcoin has been growing steadily in what seems to be a recovery from the setback it suffered on Wednesday, January 18 following reported allegation of irregularities in the operations of major exchanges in China by the People’s Bank of China (PBOC). Officials of the Bank had met with key exchanges – BTCC, OKCoin and Huobi – on January 11 to remind them of their responsibility to conduct their activities according to the laws of the country. The news of the meeting dipped the price of Bitcoin from the $916 range to as low as $761 due to panic selling which emanated from fears....
BTC China has become the world's first major bitcoin exchange to scrap its trading commission fees, albeit temporarily. The company, which launched in June 2011, was charging 0.3% for all trades made on the site before taking the decision to run a promotion eliminating this fee. "We already deliver an outstanding consumer experience, and with this promotion, we will now also offer superb value. The future is bright, for bitcoin in China," said Bobby Lee, CEO of BTC China. He explained the promotion will continue to run over the Chinese National Day holiday, but could not confirm its end....
If every single investor was as bullish on bitcoin as Michael Saylor and Cathie Wood, we’d look to the future with bright optimism.
Donald Trump is wrapping up misguided policies that will potentially threaten the U. S. and global economy with sensible supply side reforms, warns the boss of one of the world's largest independent financial advisory organizations. The comments from Nigel Green, founder and chief executive of deVere Group, come as the outspoken billionaire frontrunner prepares for the latest Republican presidential candidate this evening. Mr Green observes: Trump is a Big Picture guy - and he has the soaring rhetoric to go with it. But the details of his economic plans appear sketchy. The nuts and bolts....