​On this day 8 yeara ago, Bitcoin price 'plummeted' to $109.76 after Silk Road closure.

Bitcoin has experienced two major booms and busts, one in 2011 when the value of one Bitcoin went from $2 to $30 and back in little more than six months, and another earlier this year, when the price shot from $13 to a high of $266, before dropping back to a low of $50.Even on a slow trading period, Bitcoin remains extremely volatile.

"The price of Bitcoin has fallen since the closure of Silk Road, not because the website was the lynchpin of the Bitcoin ecosystem, but because some people are fearful that this is the beginning of the end."

Bitcoin 'not reliant on Silk Road'"The reality is, Silk Road doesn't play any part in a high proportion of Bitcoin users' lives," says Spaven.


Sentiment: Neutral
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​IMF: "Emerging market 'cryptoization' threatens financial stability". They have FINALLY understood how big Crypto really is!

The advent of digital currencies in emerging markets could spark "Cryptoization" of local economies, potentially undermining exchange and capital controls and upsetting financial stability, the International Monetary Fund said on Friday.

Dollarization is where a foreign currency - typically the US currency - is used in addition to, or instead of, a domestic currency.

"Dollarization can impede central banks' effective implementation of monetary policy and lead to financial stability risks through currency mismatches on the balance sheets of banks, firms, and households," it said.


Sentiment: Positive
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​BULLISH: National Postal Service adopt Polygon Blockchain

Ethereum Layer 2 solutions aggregator, Polygon, continues to soar high as it has secured a remarkable partnership with Switzerland's national postal service to unveil the Swiss crypto stamp.

On the other hand, the Swiss national postal service tapped Polygon to launch tradable digital stamps as nonfungible tokens.

The Swiss Post said: "There are 65,000 copies of the most common digital design, but just 50 of the rarest. One thing is clear: the Swiss Crypto Stamp means collecting, exchanging, and trading stamps has gone digital, too."


Sentiment: Neutral
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​Bitcoin Forming Pattern That Usually Leads to Very Powerful Upside Move, According to Real Vision’s Raoul Pal

Macro guru and former Goldman Sachs executive Raoul Pal says Bitcoin is forming a pattern that could foreshadow a massive rally.

The Real Vision CEO tells his 652,000 followers that Bitcoin is forming a huge descending wedge reminiscent of a pattern that formed from 2017 to 2020.

"The Bitcoin long-term log chart looks pretty luscious. Who knows if the wedge breaks on the first attempt but a consolidation pattern of this magnitude usually leads to a very, very powerful upside move."


Sentiment: Neutral
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​New Zealand considers launching its own digital currency as it sees opportunity for payments innovation

New Zealand's central bank is looking at the potential of creating a digital currency, with officials in a report Thursday saying such a project could foster further innovation in the country's payments system.

The Reserve Bank of New Zealand sought public feedback on papers focusing on the future of money which included a proposed digitized currency at a time when the use of cash is declining.

"A Central Bank Digital Currency would see the features and benefits of cash enjoyed in the digital world, working alongside cash and private money held in commercial bank accounts," RBNZ Assistant Governor Christian Hawkesby said in a statement.


Sentiment: Positive
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​Nearly 40% of young Spanish People want to Invest into Crypto Soon: Many think that Crypto is the Only Asset which can Provide enough Returns for their Future

The Spanish neobank Revolt conducted a survey to find out whether or not younger Spaniards have been considering of leaping on the cryptocurrency bandwagon within the close to future.

Investing in digital belongings is probably the most contracted funding product amongst locals aged between 25 and 40 years outdated as round one-fifth admitted they've already allotted funds in them.

27% of the members consider that this can be a "Good funding," whereas 27% praised bitcoin and the altcoins as "The way forward for funds." Nonetheless, data on the matter wants enchancment as 17% answered they know nothing about crypto.


Sentiment: Neutral
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​El Salvador successfully mines $270 of bitcoin using energy from a volcano

El Salvador became the first country in the world to recognize Bitcoin as legal tender a few weeks ago.

El Salvador invested $225 million and expanded its cryptocurrency holdings to 550 Bitcoins as part of a deployment aimed at establishing the country as a global cryptocurrency leader.

El Salvador is known as the "Land of the Volcanoes," and based on government data, geothermal energy already accounts for almost one-fourth of the country's local energy production.


Sentiment: Neutral
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​Ethereum fractal from 2017 that resulted in 7,000% gains for ETH appears again in 2021


Sentiment: Positive
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​Bitcoin: Miami will allow the payment of taxes in crypto

In a recent interview, the Miami Mayor Francis Suarez reiterated his proposal to accept Bitcoin to pay taxes.

The Miami Mayor Francis Suarez has launched the project on a technical level to allow citizens to pay local taxes with the King of cryptocurrencies.

In October, legal procedures will be filed to turn Miami into the first major US city to accept BTC as payment of local taxes.


Sentiment: Positive
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​Banker Faces 10-year Jail Term after Borrowing Money in Mother’s Name to Buy Crypto.


Sentiment: Negative
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​Algorand (ALGO) deploys ground-breaking smart contract upgrade


Sentiment: Positive
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​Bitcoin’s Hashrate Comes Close to Recording New All-Time High Despite China’s Ban

Bitcoin's hashrate, which shows the network's combined computing power, hit 177.5 EH / s on October 2, according to data provided by Blockchain.com.

The closely watched metric managed to stage a stunning recovery after plunging in late June due to a large number of Chinese provinces banning Bitcoin mining.


Sentiment: Neutral
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​Ethereum breaks through resistance, now nothing can stop ETH from $4,000

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If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned.

The author has not received compensation for writing this article, other than from FXStreet.


Sentiment: Negative
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​Stablecoins Must Be Backed By Cash, Says Pro Crypto Senator Cynthia Lummis


Sentiment: Positive
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​Coinbase Promises to Deposit Stolen Funds to At Least 6,000 Hacked Accounts

Even if a hacker has access to customers' email accounts and credentials, they would still be prevented from logging into an account if multi-factor authentication has been enabled.

Due to the fact that it was a bug in Coinbase's SMS Account Recovery process allowing threat actors access to accounts, the exchange is depositing funds in affected accounts equal to the stolen amount.

"We will be depositing funds into your account equal to the value of the currency improperly removed from your account at the time of the incident. Some customers have already been reimbursed - we will ensure all customers affected receive the full value of what you lost. You should see this reflected in your account no later than today."


Sentiment: Negative
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​11.9m leaked files show how billionaires and world leaders avoid tax - yet it's crypto that must be regulated.

The secret deals and hidden assets of some of the world's richest and most powerful people have been revealed in the biggest trove of leaked offshore data in history.

The Pandora papers reveal the inner workings of what is a shadow financial world, providing a rare window into the hidden operations of a global offshore economy that enables some of the world's richest people to hide their wealth and in some cases pay little or no tax.

The Pandora papers represent the latest - and largest in terms of data volume - in a series of major leaks of financial data that have convulsed the offshore world since 2013.Setting up or benefiting from offshore entities is not itself illegal, and in some cases people may have legitimate reasons, such as security, for doing so.


Sentiment: Neutral
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​Tezos (XTZ) Hits New All-Time High as it Climbs 23% in 24 Hours

Tezos is showing bullish signals, not showing signs of allowing down at the time of writing.

On Wednesday, 29 September 2021, the Relative Strength Indicator of Tezos showed a substantial bearish divergence, even though the trend for Tezos remained largely bullish from a technical perspective.

Development activity on Tezos dApps has been gathering pace, and currently has about 135 projects and dApps in development on its network.


Sentiment: Positive
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​US mayor pledges to give $1,000 of bitcoin to all residents of his town


Sentiment: Positive
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​PSA: Pandora Papers just hit. Millions of documents reveal offshore deals and assets of more than 100 billionaires, 30 world leaders and 300 public officials but yeah... blame crypto for money laundering.

The leaked records come from 14 offshore services firms from around the world that set up shell companies and other offshore nooks for clients often seeking to keep their financial activities in the shadows.

A document in the Pandora Papers shows that banks around the world helped their customers set up at least 3,926 offshore companies with the assistance of Alemán, Cordero, Galindo

​Visa's New Payment System Will Accept Everything From Bitcoin to Dollars

So where does that leave payment processors like Visa? Well, if Visa has anything to do with it, it'll continue to be right in the middle of it all.

Visa has consistently worked to carve a space for itself in the crypto world, from partnering with cryptocurrency exchanges to offer Visa debit cards that earn crypto rewards, to settling the first crypto-only payment.

Its latest Universal Payment Channel shows it wants to maintain its pole position, whether that involves working with govcoins or existing cryptocurrencies.


Sentiment: Positive
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​Survey: 48% Of Brazilians Want To Make Bitcoin A Legal Currency | Nasdaq


Sentiment: Positive
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