Bitcoin is back in the news again. This time, due to all the bad reasons. The benchmark cryptocurrency earlier this month slipped by up to 38 percent from its local peak of $10,540, according to data provided by CoinStats’ cryptocurrency portfolio management app. Meanwhile, it remained stuck in a much larger downtrend after establishing $14,000…
Bitcoin is giving the People’s Bank of China sleepless nights, according to a new report by the Nikkei Asian Review. The media coverage highlights how people in China have shown a middle-finger to the capital control measures imposed by their central bank and government. They are purchasing bitcoins en masse and using them in offshore…
Bitcoin traded lower on Wednesday as the US delayed its plans to introduce fresh tariffs on some Chinese goods, registering yet another instance wherein the cryptocurrency shows correlation with macroeconomic events. The bitcoin-to-dollar exchange rate established an intraday low of $10,574.08, according to data fetched by CoinStats’ cryptocurrency portfolio management app. That brought the pair’s…
Companies based in New Zealand can now pay salaries in cryptocurrencies like bitcoin, according to a new ruling. The New Zealand Inland Revenue announced on August 7 that companies which choose to pay their employee in cryptocurrencies can file for tax deduction under the existing scheme. The move verified bitcoin as a legal wager-payment method,…
The price of bitcoin on Tuesday was almost 30 percent down from its year-to-date peak of $13,868.44. The BTC/USD exchange rate established a new intraday low at $9822.59, down 9.46 percent according to CoinStats’ cryptocurrency portfolio management app. The move downward brought the bitcoin’s market capitalization to circa $174.15 billion. At its 30-day high, the…
