It all started with China. Bitcoin is now down 46.1% for the month of September. The most recent decline comes after one of China’s biggest crypto exchanges said it would shut down its operations.
The truth is it’s ‘bank hunting season’, and has been for about a decade now. And it’s not going to stop any time soon. The very existence of bitcoin and cryptocurrencies threaten the entire system. It challenges them with the fact that elitist greed and excess has an expiry date.
The value of our money is based on faith. Faith in the credit of our government’s monetary policy. This is why the concept of the blockchain and cryptocurrencies is so powerful. People may start to realise it’s the only safe haven left in the next crisis.
We’ve been pretty vocal in our belief that cryptocurrencies are going to shape the future of finance. And a lot more than that. But not everyone shares that belief...
The irony to Jamie Dimon’s comments is he’s part of why bitcoin even exists. JPMorgan is part of the reason bitcoin is so successful. The whole rigged, broken financial system is exactly why the future of money is bitcoin and crypto.
September has been one of the worst months for Bitcoin in 2017. The digital token is down 21.4% in the first two weeks. Has bitcoin’s rapid appreciation finally come to an end?
To move banks, you would have to re-invest time and energy into new research. And there’s a tonne of information to get your head around. But financial technology is looking to make the process of comparing and switching banks vastly easier.
One of the hottest investments this year has been bitcoin. Had you bought US$10,000 of the digital coin at the start of 2017, by 1 September you’d be sitting on US$49,621.80. Not a bad return for nine months.
Kim Jong Un’s interests in bitcoin are probably similar to most punters — its price and popularity has gone through the roof. But what Kim hopes to use bitcoin for is much more troublesome.
Steep declines hit the crypto market over the weekend, as rumours of further Chinese crypto crackdowns surfaced.