G20 Summit that was held in Buenos Aires said to leave a positive sign for the fortune of cryptocurrency and said to affect the Bitcoin price that shows significant increase yesterday. The price reported to increase more than just 4.5% and made it be above $9,000.
The ongoing G20 Summit that participated by the Financial Authorities all over the world reported agreeing that cryptocurrencies are assets. Since more countries seem to consider cryptocurrencies as asset indirectly means more taxes could be collected countries, financial regulators.
Japanese cryptocurrency exchanges, Coincheck are no longer tracing the stolen funds since the tracking mosaic has been removed. Collaboration has been made by NEM and Coincheck for transaction monitoring purposes after the hacking incident.
Bitcoin price fluctuates around $8,600 and $8,400. The crypto price seems to reach $9,000, reported CoinDesk. The price has dropped down by 30% from $11,660 high on 5th March. As per CoinMarketCap, the bitcoin trading volume is at $6.64 billion. CoinDesk reports that the crypto price is ‘likely to test $9,000 and $9,157 in the next 24-36 hours.’
The owner of Ethereum ICO holds the fortune of the cryptocurrency and a dramatic impact to be predicted if the cryptocurrency reaching cash out stage. According to the report, “Ethereum’s flash drop made it one of the worst performers in the cryptocurrency top 100 yesterday, shaving around 16% off its valuation.” and expected to be repeated soon.
A new governor of People’s Bank of China, Yi Gang has been appointed expected to be able to soften the government’s stance against cryptocurrencies. According to the local press, the newly appointed governor once spoke about the possibilities of major cryptocurrency to be legally recognized by PBOC in 2013.
A ranking that shows 12 weakest cryptocurrencies has been revealed by Weiss Cryptocurrency Ratings. The Independent rating agency announced the ranking and issuing letter grades for each cryptocurrency listed. One of the top cryptocurrency, Bitcoin managed to increase its grade for their excellency scores in terms of security and the adoption.
A survey has been conducted in the UK that reveals a good number of potential investors that will trade more cryptocurrency this year. As per reported according to the survey, “Most of the investors anticipate the price of crypto to increase within the next 12 months.”
The co-founder of Paypal, Peter Thiel has made a statement regarding his opinion about Bitcoin and he calls the cryptocurrency as digital gold and will be the future of finance. According to Thiels, the cryptocurrency has the possibilities to be more than just a currency that facilitates the everyday transaction.
Warren Buffet made a statement about his personal opinion on cryptocurrency which seems to be agreed by financial analysts. Warren Buffet before reported to CNBC that for now the investors should have only invested Bitcoin for fun but he wasn’t denying the potential in Blockchain technology.