Why Bitcoin, Dogecoin, Ethereum – and in addition Coinbase – are on the transfer at this time – Motley Idiot

Advertisements

What happened

Towards the end of the week, cryptocurrency prices in Friday morning trading are looking decidedly mixed. Here’s the prices for some of the biggest names in cryptocurrency as of 10:10 a.m. EDT:

  • The guiding star of the crypto industry Bitcoin (CRYPTO: BTC) is up a modest 1.6% in the past 24 hours.
  • Dealer darling Dogecoin (CRYPTO: DOGE) fell by 2.2% over the same period.
  • ether (CRYPTO: ETH) leads the way up by 4%.

And for that matter, crypto marketplace Coinbase Global (NASDAQ: COIN) has also increased – 2.2%.

A red down arrow crosses a green up arrow.

Image source: Getty Images.

so what

The headlines on cryptocurrencies look just as mixed.

As Coindesk reported this morning, China – whose crackdown on cryptocurrencies caused panic in early summer and crypto prices plummeted – appears to be done with the hammer. China has “closed” the crypto market, Coinbase reports, and now that most of the crypto mining hubs in the country have closed and the government has told financial institutions to refrain from “conducting or enabling virtual currency transactions and trading” . further regulations on cryptocurrencies are not expected.

Granted, the regulations already passed seem to have essentially removed the world’s most populous nation from the cryptocurrency market, which won’t be good for growth trends. But at least China doesn’t seem to be planning to further devastate the market – and so crypto investors can breathe a sigh of relief in this regard.

And today there is more news from the second most populous nation in the world. As reported by the Indian business newspaper The Economic Times, Indian lawmakers are working hard on a new bill that will divide cryptocurrencies into one of three categories: those used for investments, for payments, or as a form of “utilities”. The bill, when it becomes law, will also classify all cryptocurrencies as a form of commodity value.

What now

Is that good news or bad news? Well, if you consider that just under a week ago The Economic Times asked itself aloud whether the Indian government could perhaps ban crypto currencies altogether, the fact that the government now only wants to regulate and even institutionalize crypto is a positive thing .

I would even go so far as to say that the change in sentiment here is good for cryptocurrency investors, even if India’s law has not yet come into effect. In India, as in the US, while crypto traders may resist the idea of ​​government interfering with their fun, well-designed regulations have the potential to curb fraud and abuse that could discourage serious investors from investing in cryptocurrency. Regulation also has the potential to calm price fluctuations and volatility in this market, turning crypto into more of an investment and less of a speculation.

If you ask me, that’s a good thing – and a reason for soaring crypto prices.

This article represents the opinion of the author who may disagree with the “official” referral position of a premium advisory service from the Motley Fool. We are colorful! Questioning an investment thesis – even one of our own – helps us all think critically about investing and make decisions that will help us get smarter, happier, and richer.


Share post on

Sonic BTC is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

A Dogecoin Rally Would Be the Greatest Case State of affairs for Shiba Inu – InvestorPlace Dogecoin

A Dogecoin Rally Would Be the Greatest Case State of affairs for Shiba Inu – InvestorPlace

Source: Alfa Grandpa / Shutterstock.com Shiba Inu (SHIB USD) is not having a good...

By wpadminsonic164
• Dogecoin TO PKR: Today’s Dogecoin Price in Pakistan on, May 26, 2022. – BOL News Dogecoin

• Dogecoin TO PKR: Today’s Dogecoin Price in Pakistan on, May 26, 2022. – BOL News

• Dogecoin TO PKR: Today's Dogecoin Price in Pakistan on, May 26, 2022. Dogecoin...

By wpadminsonic164
Dogecoin Co-Founder Expects Luna 2.0 to Attract “Idiotic” Crypto Gamblers – U.Today Dogecoin

Dogecoin Co-Founder Expects Luna 2.0 to Attract “Idiotic” Crypto Gamblers – U.Today

Alex Dovbnya Dogecoin co-founder Billy Markus has ramped up his criticism of Terra (LUNA)...

By wpadminsonic164
Dogecoin and Shiba Inu consolidate, analysts predict one other value drop – FXStreet Dogecoin

Dogecoin and Shiba Inu consolidate, analysts predict one other value drop – FXStreet

Dogecoin accounts for 26% of Robinhood's sales in Q22021 as traders aggressively bought the...

By wpadminsonic164
In the event that You Had $1,000 Right Now, Would You Put It On Axie Infinity Or Dogecoin? By Benzinga – Investing.com UK Dogecoin

In the event that You Had $1,000 Right Now, Would You Put It On Axie Infinity Or Dogecoin? By Benzinga – Investing.com UK

© Reuters. If You Had $1,000 Right Now, Would You Put It On Axie...

By wpadminsonic164
Dogecoin

Bitcoin Rises, Ethereum, Dogecoin Fall: On-Chain Metric Flags Bullish Sign – Benzinga – Benzinga

Bitcoin intraday returns exceeded those of altcoins as the global cryptocurrency market cap rose...

By wpadminsonic164
Dogecoin-Ethereum Bridge for DeFi Use Remains on Track: DOGE Developer – U.Today Dogecoin

Dogecoin-Ethereum Bridge for DeFi Use Remains on Track: DOGE Developer – U.Today

Tomiwabold Olajide This would allow Dogecoin users to use DeFi, NFTs and all of...

By wpadminsonic164
Ethereum Whales Pouncing on Dogecoin Competitor Shiba Inu Amid Crypto Market Downtown, In line with On-Chai… – The Day by day Hodl Dogecoin

Ethereum Whales Pouncing on Dogecoin Competitor Shiba Inu Amid Crypto Market Downtown, In line with On-Chai… – The Day by day Hodl

The world's largest Ethereum (ETH) whales are gobbling up memecoin Shiba Inu (SHIB) even...

By wpadminsonic164

Latest Posts

A Dogecoin Rally Would Be the Greatest Case State of affairs for Shiba Inu – InvestorPlace Dogecoin

A Dogecoin Rally Would Be the Greatest Case State of affairs for Shiba Inu – InvestorPlace

Source: Alfa Grandpa / Shutterstock.com Shiba Inu (SHIB USD) is not having a good...

By wpadminsonic164
Greater than Bitcoin: 7 New Altcoins Added To Nebeus Crypto-Backed Loans – Cryptonews Stellar

Greater than Bitcoin: 7 New Altcoins Added To Nebeus Crypto-Backed Loans – Cryptonews

Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com...

By wpadminsonic164
LIVE: The Crypto Bear Market Will Finish Quickly! Enormous BTC Information! Videos

LIVE: The Crypto Bear Market Will Finish Quickly! Enormous BTC Information!

At the moment many traders are saying Crypto is in a bear market with...

By wpadminsonic164
NFT Infrastructure Supplier Rarify Will get $10 Million Funding in Sequence A Funding Spherical Led by Pantera Capital Bitcoin

NFT Infrastructure Supplier Rarify Will get $10 Million Funding in Sequence A Funding Spherical Led by Pantera Capital

Rarify, a startup that helps third parties include NFT elements in their tech platforms,...

By wpadminsonic164
Crypto alternate Binance says won’t settle for playing cards of sanctioned Russian banks – Moneycontrol Binance

Crypto alternate Binance says won’t settle for playing cards of sanctioned Russian banks – Moneycontrol

a,.special_wrapbx a{color:#333;font:400 11px Lato,sans-serif}.user_after_login a, .user_before_login a {color: #333333;font: 11px 'Lato',sans-serif;}.dropdown-menu{display:none;background-clip:border-box!important}.header_desktop .dropdown-menu>li{border-bottom:1px solid #e9e9e9}.header_desktop...

By wpadminsonic164
How Binance is committing to gender equality in Africa and past – Information Ghana Binance

How Binance is committing to gender equality in Africa and past – Information Ghana

Binance Committed To Gender Equality Technology has been predominantly a male-dominated sector; the lack...

By wpadminsonic164
Breaking: Cardano has plunged beneath $0.50, expanding the gamble for a half amendment – FXStreet Cardano

Breaking: Cardano has plunged beneath $0.50, expanding the gamble for a half amendment – FXStreet

Cardano dipped below the $0.50 support level over the past few hours. A decisive...

By wpadminsonic164
Martine McCutcheon flaunts her thinned down figure in spotted dress for sizzling snap – Daily Mail Polkadot

Martine McCutcheon flaunts her thinned down figure in spotted dress for sizzling snap – Daily Mail

Martine McCutcheon took to her Instagram Stories on Wednesday to show off her fantastic...

By wpadminsonic164