Bitcoin Market Could be Affected by Trade War Caused Downfall
Based on the current quagmire of geopolitical conditions, the entire globe could see another big recession within the next nine months, especially if the trade war is prolonged, expert economists reveal. Both the Bitcoin, cryptocurrency and traditional markets could be affected.
Bitcoin and Other Cryptocurrencies are Booming on the African Continent
Despite hacking scandals and high volatility, Africans continue to use cryptocurrencies for speculative, investment, and savings purposes. This highly perceptive continent of technological innovations has become a new El Dorado for digital currencies, which store transactions in a public and ultra-secure database called blockchain.
Political Turmoil Sees Venezuelans Store Wealth in Crypto
The Bolivarian Republic of Venezuela, one of the most oil-rich countries in South America and the world at large, is still experiencing political instabilities and this has led its economy to stagnate. The traditional (fiat) currency bolivar has lost value due to the hyperinflation that hit the country, this has forced its citizens to massively store their wealth in crypto currencies such as petro, Bitcoin, Ethereum, Ripple and others.
Golix Files Case in Court Against Reserve Bank of Zimbabwe
The Reserve bank of Zimbabwe (RBZ) issued rules of thumb in a circular on May 13 that detailed that all cryptocurrency activities carried out in the country were being stopped. The RBZ went ahead and indicated that all domestic digital currency operations were given the maximum of two months to begin complaining. RBZ is now facing a lawsuit from a giant cryptocurrency exchange.