11/28/2020Experts call the correction of bitcoin healthy and necessary before the rise to $ 86,000

The latest news on digital currencies in the first week of July 2020

The latest news on digital currencies in the first week of July 2020

After the global economy bounced off for weeks and various markets continued to recover from the effects of the corona pandemic, there were more injuries than expected in some regions, particularly in the U.S. Many markets were clearly affected by the decline infamous stock market indices, particularly in the past week. This also contributed to some digital currencies, especially Takween, falling back to less than $ 9,000.

This week's news contains many rumors, fears, and expectations about the future of the Takween currency. PayPal has announced its desire to hire experts in the BlockChain space, which has increased rumors of the possibility due to its support for digital currencies within their service and, on the other hand, it should be announced that the expiration of some optional exchange contracts has had a negative impact on their value. In this article, we'll give you an overview of the biggest digital currency news for the week. So follow us.

The expiration date of a large number of Bitcoin voluntary contracts and expectations indicate its volatility.

A few days ago, some option contracts worth around $ 675 million expired, and many experts had different opinions about the impact on Bitcoin's price stability, which still fluctuates a lot to this day.

Around 24 hours before the expiry date of these contracts, the value of Bitcoin decreased by about 7% in a single day. However, this decline was also due to other factors, the most important of which was due to the return of market values. some decline due to the rise in coronavirus infections, where investors' concerns about the future of their risky assets have increased with the possibility of a sudden collapse of securities such as stocks and cryptocurrencies.

Last week I noticed an improvement in the price of parts that again exceeded the $ 9,500 mark, but this improvement didn't last longer than two days as the value of the part collapsed and fell below $ 9,000 for a few hours, before it comes back a little more, as many speculators will buy it again if its value falls below this limit to make profits because good Many of the current expectations suggest that their prices will go up.

Close the Bitcoin.com forum

The website is owned by Bitcoin.com with the same name and today contains one of the best known and most important forums for digital currencies, in which a lot of news, experiences, and opinions about Bitcoin and other currencies are discussed. but the administration decided to suddenly close it and set an appointment for the 23rd of the next month. She posted the news on the forum a few days ago without explaining the reason.

The website is connected to one of the former Bitcoin investors and offers numerous services related to Bitcoin currency and money training, including trading services. After contacting Roger Ver, CEO of Bitcoin.com, Cointelegraph said the announcement of the closure of the forum this way is premature, in addition to the possibility that this decision will be overturned in the near future, but until now, the warning is not yet clearly visible in the forum before closing.

Chinese mining company offers shares for trading

Chinese mining company Ebang introduced its shares in the American Nasdaq index a few days ago, making it the second mining company to be listed on the stock exchange in the United States. The company plans to raise $ 125 million as part of its IPO to expand its business and develop its services, including the construction of a new mining operation and a platform for cryptocurrency trading.

This business only started in 2010 when it specialized in communications and its equipment, and in 2014 it entered its own brand with the sale of mining equipment as part of its digital currency operations. Because Ebang offers its stocks for trading in the U.S. markets, this can encourage other companies and give investors and traders a greater chance of entering the world of digital currencies without having to trade.

Woman arrested for unauthorized use in Takween, Singapore

A 23-year-old woman was arrested in Singapore for unauthorized driver training in Taksin and, according to the Singapore police, was the first person to be arrested and charged under the new District Payment Services Act. The defendant was arrested for offering an unlicensed digital payment service, as the current fees indicate

Rumors that PayPal supports cryptocurrencies in its services

A few days ago, the giant for electronic payments, PayPal, announced that it wanted to hire blockchain experts. As a result, there have been rumors about the possibility for the company to support digital currencies within the company. The electronic payment platform has grown. In addition to the famous Venmo application payment and if the company really does, business in the cryptocurrency market will change significantly and the value of Bitcoin will increase dramatically if it is supported.

Following this announcement, a new wave of optimism has started in the digital currency community in general and in particular, and expectations of Takween have risen with the announcement of many well-known investors in the EU. about his optimism. So far, PayPal has not announced any plans regarding its future. Therefore, you may only need to integrate blockchain technology on your platform, but without cryptocurrency support.