Author: Dowbit

Cryptopia – A Cryptocurrency Utopia in Puerto Rico?

Throughout 2017, we saw the prices of every cryptocurrency skyrocket. This was largely driven by the mass adoption of virtual currencies and blockchain technology. This has led to the appearance of the so-called Bitcoin millionaires. These early adopters of Bitcoin and other altcoins that managed to turn what, at first, seemed like a fad into massive wealth. The best known case is the Winklevoss twins, who managed to make over $1 billion USD worth of BTC early in December 2017. Of course, before the current market correction started. Nevertheless, they are not alone. Other millionaires and billionaires exist around...

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Will China adopt Ripple?

China is infamous for its unfriendly stance towards cryptocurrencies, and especially ICOs. The unstoppable wave of regulations in the country has caused and continue to cause serious effects in the crypto market. Last year, the country shook the market by banning ICOs and cryptocurrency exchanges. This year, the regulations continued as the government also banned access to foreign exchanges. Now, amid these attempts to control the market and the industry in the country, rumors of the People’s Bank of China adopting of Ripple are coming to light. Blockchain Ambassadors Last year, representatives from the PBoC visited Coinbase and Ripple as a...

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Correlation, or Coincidence? Crypto market and Wall Street tumble

Can Bitcoin’s recent dip in value be explained by repetitive mechanisms or measurable indicators? Is the drop in stock prices somehow connected to cryptocurrency’s market correction? Let’s consider the relationship between the cryptocurrency and legacy financial institutions. Ups and downs Bitcoin’s value has been declining steadily since December when it was at its all-time high of $20,000 USD. Crypto is susceptible to change and even somewhat chaotic, which causes anxiety among investors, but such a large loss of value must have some permanent cause. The history of Bitcoin is rich in drastic declines in values. Just last December, when...

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Bitcoin: a history of falls

The beginning of 2018 does not turn out to be the most beneficial in the community’s perception of cryptocurrency. Bitcoin has dropped by 70% in value from an ATH of over $20,000 in December 2017. We thought we were coming out of it, but People who bought their crypto assets at ATH were not aware that the general sale had just begun. Many claim this may be the end of Bitcoin. But the end has been upon us many times. 99bitcoins estimates that Bitcoin has been proclaimed dead about two-hundred-fifty times since 2010 (the most murderous year was 2017, with as...

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Bitcoin’s price falls below USD 8,500, the lowest for more than 2 months

Bitcoin has been declining steadily since the beginning of the year. On January 6th, the most popular cryptocurrency hit its ATH at around $17,000 USD. Today, however, the price of BTC has fallen below $8,500 USD and at the time of writing it’s $8,421 USD, according to Coinmarketcap. Bitcoin price Earlier this week, we reported on the falls of Bitcoin and the market as a whole. Yesterday another wave arrived. Bitcoin lost over 15% over the last twenty-four hours. Initially, it seemed that this was due to the Indian Minister of Finance’s vague statement that Bitcoin “is not a...

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