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How to Trade Cryptocurrency in Many Cryptocurrency News?



Bitcoin has been sluggish for weeks, trapping between $ 30,000 and $ 40,000. What we should keep in mind, however, is that volatility is the intrinsic characteristic of the cryptocurrency market. Although it is changeable, we can still take a look at the price development from some signals.

Bad news

Regulatory crackdown

In April 2021, big but bad news that Chinese governments are officially banning crypto mining pulled Bitcoin price from its peak. downward $ 65,000. However, it is unexpected that China’s action will continue to invite supporters worldwide.

Recently, it has been reported that South Korea has tightened regulations on the exchange of cryptocurrencies. China cracked down on cryptocurrencies under the banner of protecting its environment, while South Korea cracked them down in the name of fighting tax fraud. “We will do our utmost to protect law-abiding taxpayers and fulfill our mandate for fair taxation by investigating and tracking assets that tax evaders may be hiding amid the recent craze for trading cryptocurrencies,” said Kim Ji-ye. General Manager at Gyeonggi Provincial Fairness Bureau.

The same will be true for the US. The Federal Bureau of Investigation (FBI) has warned the cryptocurrency that new rules will be enacted later this year. Federal Reserve Chairman Jerome Powell said in a virtual hearing, “We have a tradition in this country where the public’s money is held in what is supposedly a very safe asset. For example, we have a pretty strong regulatory framework for bank deposits or money market funds … That doesn’t exist for stablecoins, and if they are a significant part of the payments universe … then we need a suitable framework, which frankly we don’t. “

Failure to provide inflation protection

The fact that dollar prices are rising while Bitcoin’s are falling casts doubt on its greatest virtue – inflation hedge. Liz Ann Sonders, Chief Investment Strategist at Charles Schwab, tweeted: ‘Interesting that Bitcoin was essentially cut in half as CPI inflation rose from + 1.4% YoY in January to 5.4% in June.’ Since Bitcoin is not responding to the rising consumer price, a large amount of data shows that higher costs are required to open contracts. With inflation surpassing their income, traders are concerned about how cryptocurrencies will work as a hedge against inflation to boost consumer power for groceries, homes, appliances, used cars, gasoline, etc.

Hot wire

Crypto-linked Visa card

Visa recently announced that consumers have spent more than $ 1 billion worth of cryptocurrencies on goods and services through their crypto-connected cards. Vasant Prabhu, CFO of Visa, told CNBC, “People are exploring ways they can use cryptocurrencies for things they would use normal currencies for.” It is reported that Visa is doing a lot to create an ecosystem that Makes cryptocurrencies more usable and similar to any other currency.

PayPal increases the purchase limit of the cryptocurrency

New but good news for Bitcoin is that PayPal is increasing the number of cryptocurrency users that users can buy by five times to $ 100,000. That means PayPal users will be allowed to buy $ 100,000 worth of Bitcoin and other digital assets on a weekly basis, up from an earlier limit of $ 20,000. In addition, the payment giant is also cutting its $ 50,000 annual purchase limit.

“These changes will allow our customers to have more choice and flexibility when buying cryptocurrencies on our platform,” said Jose Fernandez da Ponte, vice president of digital currencies at PayPal, on Thursday.

Although the picture is mixed, we can still see the unstoppable triumph of the cryptocurrency as it has won the favor of the richest institutions. That said, investing in Bitcoin will be mainstream. Bexplus helps you to seize the chance of winning with its 100-fold leverage.

How does 100x leverage work?

Let’s see how we can benefit from a potential BTC price drop:

Suppose we used 1 BTC to open a short contract when Bitcoin was trading at $ 35,000. Please note that 1 BTC with 100x leverage can open a contract worth 100 BTC.

When the price of Bitcoin has dropped to $ 33,000. The profit is (35,000 USD – 33,000 USD) * 100 BTC / 33,000 USD * 100% = 6.06 BTC. Of course, margin trading increases profits, but it can also increase losses.

Why Bexplus?

Headquarters in Hong Kong, Bexplus is a simple and fair trading platform for cryptocurrency derivatives with 100,000 traders from all over the world. It offers perpetual swap contracts with up to 100x leverage and supports cryptocurrencies: BTC, ETH, Dogecoin, LTC and XRP. As the leading exchange in the world of cryptocurrencies, Bexplus offers the following features:


Bexplus does not require a KYC, which you can pay into and trade without presenting any identification documents.

No withdrawal limit

Withdraw your assets whenever you need them. You can also withdraw your credit after seconds in which you have placed it in the Bexplus wallet.

Demo account

trade simulation is for tradespeople like a driver’s license for drivers, only practice can avoid losses due to lack of experience. 10btc is offered in a demo account on Bexplus so that you can practice and test your strategies.

Availability and accessibility

Services are available and accessible in over 200 countries including the United States, Iran, Japan, and Korea, and users can enjoy 24/7 customer support.


Bexplus offers users a 100% bonus for every deposit. That means if you deposit 1 Btc, you will get 2 Btc. Similarly, the more you deposit, the more you earn.

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US Senator Calls On SEC Chairman To Provide Regulatory Clarity On Cryptocurrencies – Regulation Bitcoin News



A US senator has asked the chairman of the US Securities and Exchange Commission (SEC), Gary Gensler, to provide clear guidance on cryptocurrency regulation. The Senator stated that in many enforcement actions, “the SEC has failed to identify the securities involved or the reasons for their status as securities, which would have provided much-needed public regulatory clarity.”

US Senator wants the SEC to provide clear guidelines on crypto regulation

Senator Pat Toomey, ranked member of the U.S. Senate Committee on Banking, Housing, and Urban Development, wrote a letter to SEC Chairman Gary Gensler on Friday regarding the regulation of cryptocurrencies.

His letter followed Gensler’s testimony before the Senate Banking Committee last week. Toomey began:

I’m writing to address the concerns I raised at the hearing about the need for regulatory clarity around emerging technologies such as cryptocurrencies, including stablecoins.

“In order for investors to benefit from a fair and competitive market, regulators must proactively provide rules on how to get to industry,” the Senator said that the SEC “has instead adopted a strategy of regulation through enforcement in this area.” To date, the commission has launched more than 75 enforcement actions against the crypto industry, fines and penalties totaling more than $ 2.5 billion against crypto companies and individuals.

At the Senate hearing, Gensler extolled “the SEC’s success in pursuing crypto-related enforcement measures.” Toomey noted, however, that “in many of these enforcement actions, the SEC failed to identify the securities involved or the reasons for their status as securities, which would have provided much-needed public regulatory clarity.”

SEC Commissioner Hester Peirce is also concerned about the SEC’s approach to crypto regulation. She criticized her own agency in August for taking an enforcement-oriented approach to crypto regulation.

The Senator from Pennsylvania noted that the SEC’s approach was tied to Gensler’s belief that “the likelihood is pretty slim” that a given cryptocurrency platform has no securities. For example, Gensler told Senator Elizabeth Warren at the hearing that the Nasdaq-listed crypto exchange Coinbase (Nasdaq: COIN) could have dozens of tokens, which could be securities.

Recently, Coinbase was forced to abandon its plan to launch a loan product after the SEC threatened legal action and the company alleged it had received no explanation from the regulator. In the meantime, the security guard is in an ongoing proceeding with Ripple Labs and its executives as to whether XRP is a security.

Senator Toomey emphasized:

The SEC has a responsibility to do more than just provide probabilistic estimates.

The Senator concluded his letter with a list of questions for Gensler to answer for additional guidance on crypto regulation.

What do you think of Senator Toomey asking SEC Chairman Gensler to provide clear guidance on crypto regulation? Let us know in the comment section below.

Photo credit: Shutterstock, Pixabay, Wiki Commons

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Crypto plunge a wake-up call — and tax opportunity — for investors



A detail of the statue of Satoshi Nakamoto, a presumed pseudonym of the inventor of Bitcoin, in Budapest, Hungary.

Janos Sorrow | Getty Images News | Getty Images

The price of popular cryptocurrencies like Bitcoin and Ethereum fell on Friday after Chinese officials stepped up crackdown and essentially ruled crypto illegal.

Government intervention, while substantial, does not necessarily mean that financial advisers believe investors should run into the mountains. But it’s another reminder that crypto holdings are subject to wild fluctuations in price, they said.

“I wouldn’t call this the end of the world,” said Leon LaBrecque, accountant and certified financial planner with Sequoia Financial Group, based in Akron, Ohio. “It’s just a wake-up call.”

“This should be in recognition of the fact that it is a volatile asset and that all the ups and downs are a match,” he said.

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This volatility opens up opportunities for tax planning that may only be a few months away, advisors said, depending on the Democrats’ final compromise on federal tax law.

Bitcoin prices had fallen 6% to around $ 42,000 at 3 p.m. ET Friday afternoon. Ether, the second largest digital currency, fell more than 8% to around $ 2,890.

The People’s Bank of China terrified investors after declaring all crypto-related activity illegal. These activities include, for example, trading services and foreign exchanges. This is the latest move in the country’s wider crackdown on digital currencies.

The ban on Bitcoin and other cryptocurrencies can be of concern for current and prospective investors as the government limits buyers for a significant segment of the world’s population, advisors said. And other governments are likely to have additional regulations as well, they said.

But these can’t make much of a difference in terms of long-term prices. A daily slump in crypto costs, which may feel significant at this point, is likely just part of a longer-term price correction towards an average price, advisors said.

“Will government regulation make cryptocurrencies volatile? Yes,” said Wayne Wilbanks, managing principal and chief investment officer at Wilbanks Smith & Thomas Asset Management in Norfolk, Virginia. “Will it make crypto redundant? No.

“I don’t think China’s regulation, or even US regulations, will make that much of a difference in the long run,” he added.

Bitcoin, for example, is still up around 40% year-over-year despite the slump on Friday. (It’s far from its April high of around $ 63,000, however.)

To this day, volatility is a signature of cryptocurrencies. This year, for example, prices have fluctuated sharply after tweets from Tesla co-founder and crypto enthusiast Elon Musk.

Advisors usually recommend that investors allocate a small portion of their portfolio (anything that they would lose entirely) because of the risk involved.

Tax advantage

Investors can take advantage of recent volatility, according to Jeffrey Levine, CFP, Accountant and Chief Planning Officer at Buckingham Wealth Partners in Long Island, New York.

Equity, crypto and other investors can “reap” investment losses for a tax advantage. Basically, you can sell a lost investment (e.g. Bitcoin) and use the loss to destroy the gain on a winning investment elsewhere in your portfolio.

This “tax loss harvesting” reduces (or eliminates) the capital gains tax owed on the estimated value of an investment sold.

However, unlike stock investors, crypto investors who are sold out can quickly buy back into the same or similar digital currency. As a result, if the volatile asset price recovers shortly thereafter, they can receive the above tax benefit as well as a portfolio benefit.

House Democrats proposed closing this crypto loophole after this year to reform tax law.

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A financial TikTok influencer with almost 500,000 followers says bitcoin is going to ‘get slayed’ – and shares how cryptos and stablecoins make up his trading strategy | Currency News | Financial and Business News



Mason Versluis

  • 21-year-old Mason Versluis has almost 500,000 followers on TikTok, where he gives tips on crypto and markets.
  • He recently spoke to Insider about how he chooses which coin to invest in and why.
  • Versluis said he would like to see bitcoin “slayed” as other coins have far more real-world use cases.
  • Sign up for our daily newsletter here, 10 things before the opening bell.

Bitcoin is the largest cryptocurrency by market value and is dwarfing its competitors for the time being. But the rise of crypto rivals with far more real world uses means it will be dethroned sooner rather than later, according to financial TikTok influencer Mason Versluis.

The 21-year-old Versluis also bears the username Crypto Mason and has almost 500,000 followers on his TikTok account, which he uses to shoot short videos to educate his viewers about crypto and the markets.

Versluis, who has been trading crypto since he was 15, recently spoke to Insider about his prospects for the market.

“The psychological thing that Bitcoin is always number one and king can be gone. By ‘kill Bitcoin’ I mean that I want something to happen and then we’ll see what happens afterwards, ”said Versluis.

Bitcoin has a market capitalization of just under $ 800 billion, according to CoinMarketCap, of the roughly $ 1.9 trillion that the entire crypto market is worth.

In the last 12 months it has gained almost 350% in price, but Versluis believes there is more value elsewhere.

“My dad told me about XRP when I was 17 and I’ve been back ever since,” he said.

“I’m one of those people who think XRP is a ‘better bitcoin’. And it actually solves the payment problem better than Bitcoin ever can or will, ”he added. Ripple Lab’s XRP token is used in fast payment systems – an area where Bitcoin can’t really compete given the comparatively slow network speed. One of the bigger crypto coins, XRP has kept pace with Bitcoin over the past year, rising 320%.

Ether, the native token of the Ethereum network, is the second largest cryptocurrency and accounts for around 20% of the market. The blockchain’s ability to run decentralized financial applications, smart contacts, and other protocols has resulted in an onslaught of investor money in ether this year, up nearly 800% over that time.

“It must have use cases, that is: Does this token do nothing? Am I only buying this token because I think it will increase in value?” said Versluis.

“That’s what I personally invest in, just because of the potential – they actually do something. Ethereum has so many decentralized applications built on it, ”he added.

When it comes to taking a position in a coin, Versluis says he’s not a day trader.

“It’s a lot of stress, you have to sit at the computer and watch the markets,” he said.

“I’m going to see an opportunity, put in some money and basically ramp up this rocket until I think it’s time to sell it. I sell them off and put them in a stablecoin like USDT or USDC. And then I just make profits and reinvest part of it in my main portfolio. So it’s a slow process, “he said.

As a relatively young trader who says that part of his passion for crypto is the decentralized, free nature, the question arises what Versluis thinks about the regulation in this market. Unlike many crypto fans, he’s not against it. However, he believes that all rules have to adapt to the reality of the crypto market and that one size does not fit everyone.

“It’s a digital world. And we’re only getting more digital and virtual, ”he said.

“You can’t just take the old system and the laws and slap it on crypto. It doesn’t work.

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