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Reposted from @sharecrypto In a recent research note, JPMorgan Chase, the largest U.S. bank, writes that that the current total cryptocurrency market cap is tracing the path of the 2018 bear market. Multiple major cryptocurrencies, including Dogecoin, Litecoin, Chainlink, and others, are already down more than 60 percent from their recent peaks. Bitcoin, the crypto king, is also 48 percent away from its Apr. 14 peak at the time of writing. For the entire cryptocurrency industry, the crypto winter of 2018 was one of the most severe drawdowns ever, with some prominent projects losing nearly 99 percent of their value and hundreds of projects ending up dead. JPMorgan believes that there’s more downside in store for Bitcoin, setting its medium-term Bitcoin target at as low as $23,000. Guggenheim's Scott Minerd recently said that $10,000 could be Bitcoin’s “worst-case” scenario. Presently, China banishing almost of its miners is the dominant bearish narrative. However, according to JPMorgan, the ban will be “positive” for Bitcoin in the medium-term: The crackdown on mining operations in China should be considered as positive for bitcoin over the medium-term as it accelerates a shift away from China's high share in bitcoin's hash rate. #ethereummining #bitcoinindonesia #antminers #cryptoexpert #bitcoinaustralia #bitcoinusa #bitcoininvesting #sharecrypto #bitcointrade #cryptotrader #cryptolife #coinmarketcap #bitcointrading #bitcoins #monero #ethereumtrading #cryptocrunchapp #blockchainconference #cryptocollabs (en Guayaquil, Ecuador) https://www.instagram.com/p/CQogBGCFwDg/?utm_medium=tumblr
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Renowned Economist: Central Bank Digital Currencies are the Future CoinGeek Conference themed "Ignite the P... Read more: https://bitly.com/3cT3znS #Blockchain #blockchainconference #centralbank #DigitalCurrencies #digitalcurrency #EditorsPicks #BusinessEconomy
The weekend saw Bitcoin climb back above $50K. Though the period wasn’t action-packed, two main developments signaled a new bullish wave. Americans could in the next few weeks receive stimulus checks of $1,400 with the bill passed during the weekend. Additionally, having Bitcoin in company portfolios could be a trend catching on in Asia as a leading Chinese app developer announced it bought Bitcoin worth $22M over the weekend. The approval of the $1.9 Trillion stimulus package by the U.S senate has been the major talking point. Following its approval on Saturday, experts expect President Biden could sign this into law as soon as the end of the week. If so, checks could begin reaching beneficiaries by the end of the month. In the past, some of these checks have been forwarded straight into Bitcoin. And why not? Those who stretched their last check saw its value more than quadruple. With the interest in Bitcoin skyrocketing, the number of new investors will reach never-before-seen levels. Encouraged by the recent bullish wave, and the new interest from institutions such as Tesla and Square, many are more confident buying Bitcoin as a form of investment. And has always been with Bitcoin, higher demand means higher prices. Reposted from @altcoindaily #coinbasewallet #bitcoingermany #bitcointalk #bitcoininvestor #bitcoineurope #cryptomoney #cryptonews #sharecrypto #zcash #crypto #altcoins #cryptotrading #bitcointrading #bitcoins #bitcoininfo #altcoininvesting #bitcoinbrasil #blockchainconference #bitcoinmining Free Coin: nusantarabitcoin.blogspot.com Join Bitcoin Comunity: bit.ly/nusantarabit (Not a recommendation or financial advice) https://www.instagram.com/p/CMT7MvHlLWV/?igshid=1waen8slm3edv