Ever since Bitcoin experienced one of its largest pullbacks in May this year, critics have once again used this volatility to attack Bitcoin, saying it is not a good store of value because its price can fall 40% in a week. While that argument sounds logical at first, my own deeper analysis delivers a rather alarming result.
The CEO of SpaceX and Tesla, Elon Musk, invested $1.5 Billion in Bitcoin, and the price of crypto went sky-high. Now, billionaire Carl Icahn considers investing $1.5 Billion in Ethereum. Ironically, the amount of investment is the same in both cases. Can such investment trigger a bull run for Ethereum?
The story of the gaming industry begins more than 80 years ago. Initially perceived as a curious but strange concept, it lacked interest and was considered to be a one-time sensation that would spark like the flame of a match and then disappear. Today, gaming has become a billion dollar sector. What was the journey that the industry came through to become so successful today?
DOGE, a cryptoasset in Rank #4 by market capitalisation, is now worth a staggering $79.5 bln after its value soared above 94% in just 7 days. For the past one month, Dogecoin (DOGE) has registered unprecedented gains of +930%.
Although it was quite uncommon to use cryptocurrency for buying items a few years ago, things have changed quite a bit. In fact, using crypto to buy items online is popular, and there are many websites which accept this type of payment.
The inflation in Turkey is currently at about 16.2% and this is corroding the lira’s value. The Turkish citizens are now frustrated with the economic turmoil in the country and are now seeking safe haven in cryptocurrencies. Small businesses have now started to accept payment in Bitcoin, and this has pushed its price high to make a new record high of over $63,000.
CoinMarketCap has removed a range of South Korean exchanges because they were trading Bitcoin and Ethereum at higher prices. The move has triggered a BTC and ETH price drop. However, now the two flagship cryptos seem to be regaining their value.