BITCOIN is recovering from a major crash in recent days, with some experts particularly optimistic about its potential.
Hong Fang, CEO of crypto exchange OKCoin, recently told CNBC: “I still believe the price of 100,000 is reasonable.
“The timing can be a bit elusive because we’re reliant on market dynamics,” she added.
Fang did not give a specific date on when she thinks the Bitcoin price will go up The $100,000 milestone.
Goldman Sachs has previously suggested that Bitcoin could reach a staggering value this year.
Bitcoin’s rally has also seen it escape the dreaded “death cross” – an investor indicator that can spell disaster.
Read our Bitcoin live blog for the latest news and updates…
China’s Statement on Cryptocurrency
The PBOC said it would “resolutely prevent virtual currency speculation, related financial activities and misconduct in order to protect people’s assets and maintain economic, financial and social order. festival”.
It says that the transaction of virtual money became “pervasive, disrupting economic and financial order, giving rise to money laundering, illegal capital raising, fraud, pyramid schemes and other illegal and criminal activities. ”
Crypto investments up to $30 billion
Investors contributed a record $30 billion to the crypto industry in 2021, according to Luck.
The newspaper cited data from Bloomberg News According to the report, $7.2 billion came from US-based investors.
According to a Fortune report, the $30 billion amount is almost four times the $8 billion that investors spent on companies in the crypto industry in 2018.
Play money games, part two
New money-making game play model that rewards players electronic money to play is not technically free.
Players may have to spend $1,000 or more to start making money in the Axie Infinity universe, according to Forbes.
The popular platform to play the game for money requires a beginner to have three “Axies”, available for purchase on the game Market Dashboard.
The participants can then earn crypto to sell potions, breed rare Axies, and play different games.
What is money gaming?
Axie Infinity is the most popular platform for playing games for money at the moment.
It allows users to build a collection of “Axies” that the player can use across its entire game world.
The company then uses the blockchain to reward players for playing the game, according to Forbes.
Any digital assets earned by participants can be sold on the Axie Infinity platform or traded outside of the universe.
Bitcoin Milestones, part two
Bitcoin was created in 2009 by an unknown computer using the alias Satoshi Nakamoto.
Data from Blockchain.com on Monday showed that 18.9 million of the 20,999,999,9769 Bitcoins may have been mined.
It’s a milestone that took 12 years to reach.
Experts believe that in the end Bitcoin will be mined in February 2140.
One Bitcoin is currently worth about $47,000.
The value can be increased when coins become more scarce, experts said.
Less than 10% Bitcoin left to mine
Have less than 10 percent Bitcoins left to mine when the cryptocurrency passed a major milestone in December.
Data from Blockchain.com shows that 18.9 million of the 21 million cryptocurrencies may have been mined.
Bitcoin is the world’s first fully virtual currency and new currency is created by mining, a complex online process using computer code.
It involves using a computer to solve a math problem with a 64-digit solution to generate a new coin.
For each problem solved, one Bitcoin block is processed. The first miner to solve the problem will be rewarded with a new Bitcoin.
These new coins are then stored virtually through an online database known as the blockchain.
More than 50 countries put bans
51 countries have placed a ban on cryptocurrencies, according to a report from the U.S. Library of Congress’s Global Legal Research Directorate.
So far, nine countries have outright bans and 42 have implicit bans. The ban implicitly prohibits financial institutions from using cryptocurrencies.
Follow Markets Insider.
https://www.the-sun.com/money/4448268/bitcoin-price-live-cryptocurrency-recovery/ Bitcoin Price LIVE – Cryptocurrencies Can Pass $100,000 in Value After Recovery Shows It’s Escaped from the ‘Cross of Death’