Bitcoin{ became} the official currency of [El Salvador]

Bitcoin became the official currency of El Salvador

El Salvador officially introduced bitcoin as legal tender.

In the early hours of Wednesday, a majority of lawmakers voted in favor of President Nayib Bukele's plan to use bitcoin in Latin America. The president plans to sign the law tonight or early in the morning.
Sixty-two members of parliament, along with 19 votes against and 3 abstentions, voted in favor of the bill.

In a Twitter conversation on Wednesday morning hosted by Nick Carter, co-founder of Castle Island Ventures, Najib Abu Qileh gave more details about his vision, saying that to increase financial inclusion in a country where 30% of citizens have access to financial services We are trying, and users do not just need to use a government wallet.

The President of El Salvador also added in the conversation that the country is drafting a new law that anyone who invests 3 bitcoins in the economy of El Salvador can obtain permanent residence.

He added: "This bill obliges all businesses to accept bitcoin as a means of exchanging goods or services, and the government will act as a support for institutions that do not want to risk the cryptocurrency market." Accept because of its instability. The government may also support bitcoin mining.

China State Agency publishes blockchain roadmap

China State Agency publishes blockchain roadmap

The Central Cyber ​​Security Bureau and the Information Committee of the Ministry of Industry and Information Technology of China (MIIT) have identified four key application areas for blockchain acceptance.

 

MIIT's five-item agenda for accepting the blockchain is part of a document presented Monday that details the guidance comments released to accelerate the development of emerging technology for industrial development.

 

As previously reported by the Cointelegraph, Chinese President Xi Jinping had previously called for the speedy adoption and approval of the blockchain in October 2019. This MIIT document describes this new technology as "an important part of the new generation of information technology" by presenting its argument for accepting blockchain.

 

According to the Ministry of Information Technology (IT), blockchain is among a host of new innovations such as big data and artificial intelligence that are vital to China's continued progress.

In this MIIT document, options such as economy, finance, industrialization and public services are mentioned as the main focus of blockchain development in the country.

 

According to MIIT, tracking, data sharing, and supply chain management are some of the uses for blockchain that can have a significant positive impact on the real economy. In the area of ​​finance, MIIT is calling for more interaction between blockchain and other emerging technologies such as cloud computing, artificial intelligence and the Internet.

 

MIIT proposes to accept blockchain for public use, which includes concepts such as smart cities and the use of new technologies in government services. The document relies heavily on the immutability of blockchain-based offices in improving evidence-gathering mechanisms in areas such as judicial deposit, civil registration, and administrative law enforcement activities.

As part of its development goals, MIIT called for the establishment of at least three firms and blockchain industries in China. The document also mentions international cooperation, especially under the auspices of Belt and Road.

 

Although the MIIT document emphasizes the acceptance of blockchain, there is no general reference to cryptocurrencies or tokens. Beijing continues to crack down on cryptocurrencies, and Weibo has reportedly banned the accounts of some "virtual currency influencers."

Bitcoin and Ethereum indexes are launched in the S&P DJI index

Bitcoin and Ethereum indexes are launched in the S&P DJI index

The S&P Dow Jones index has launched three new currency indexes. These three indicators are S&P Bitcoin, S&P Ethereum and S&P Crypto Mega Cap Index, which is a combination of Bitcoin and Ethereum .

A move we have been waiting for a long time

People have been waiting for a long time for a traditional financial product that can track the price of cryptocurrencies for a long time. In this regard, S&P announced last year that it intends to release its currency code index in 2021.

New indicators can be used as tracking and positioning tools in traditional financial space. On the other hand, more reliable pricing from a reputable source will protect investors from connecting to cryptocurrency APIs that may not provide the correct pricing data. S&P hopes the move will make it easier for investors to access the cryptocurrency asset class and even reduce some of the risks of a volatile cryptocurrency market.

While there is still no commodity (ETF) product that small investors can buy directly to access the real price of cryptocurrencies, the S&P move is more of a step towards legitimizing and consolidating the cryptocurrency market. The world of stocks and funds can be traded.

How this indicator works

These indicators use data from Lukka, a provider of data related to cryptocurrencies. Lukka's process examines various exchanges based on criteria such as transparency, data integrity, and other factors to determine their participation in the final pricing.

These indices track about 550 digital assets with the best market value index. Luca CEO Robert Materazzi added that working with S&P DJI is an important turning point in linking the cryptocurrency ecosystem to traditional financial services.

These three indicators will be available in the main index catalogs with the SPBTC, SPETH and SPCMC tickers, respectively. The SPCMC, meanwhile, is more interesting than the others because it is rebalanced every three months to change the ratio of the underlying cryptocurrencies (in this case BTC and ETH), given that it weighs in proportion to the market value. This ensures that investors will not be overexposed or underexposed to any of these currencies if there is a serious price move that could dramatically change the ratio of the index basket.

Economic calendar Wednesday, April 28

Economic calendar  Wednesday, April 28

Bainance CEO reacts to the decline of the cryptocurrency market on Twitter

Bainance CEO reacts to the decline of the cryptocurrency market on Twitter

 

    Changpeng Zhao tweeted about the latest cryptocurrency market downturn.
    100 Ramzars experienced a 10 to 20% market downtrend.
    The top 3 currencies, Bitcoin, Atrium and Bainance, continue to hold this position.

 

Bainance CEO Zhao tweeted about the decline in the cryptocurrency market. Zhao also added that his remarks in this tweet were not financial advice. Traders and investors must take the necessary precautions to avoid unexpected irreparable losses.

In the last few hours, the cryptocurrency market has shocked investors once again. Not because of the uptrend but because of its sudden decline. In particular, CoinGecko's top 100 cryptocurrencies fell 10 to 20 percent in the past hour. In fact, it could cause fear, uncertainty (FUD) among cryptocurrency investors worldwide.

Based on market conditions, the world of cryptocurrencies has approximately $ 2 trillion in market capitalization. It is noteworthy that the space of cryptocurrencies has stood strong and does not come down easily with the sudden fall of the market. That way, traders and investors should not lose confidence when the market plummets. This has become commonplace in cryptocurrencies.

Today, Bitcoin, the king of cryptocurrencies, tops the list with more than $ 56,000. In addition, Atrium traded at more than $ 2,200 and the Binance cryptocurrency traded at $ 473 per cryptocurrency. Despite the decline in the cryptocurrency market, these top three groups remain strong. Indeed, this is a prominent performance in the space of cryptocurrencies.

Economic calendar Monday, April 5

Economic calendar  Monday, April 5

 

Economic calendar Friday, March 5

Economic calendar  Friday, March 5

 

Noon report on global markets Wednesday, February 24

Noon report on global markets

US stock indexes and the Treasury stock market are stable. Investors are assessing the growth prospects of the global economy. In Asia, the Hong Kong stock market fell the most in nine months due to a tax increase, and in Europe, the Stoxx Europe 600 stock index changed slightly. In general, the world's financial markets have a vague trend. Meanwhile, the speech of the US Federal Reserve yesterday supported the US stock markets.
In the digital currency market, the price of bitcoin has returned to above $ 50,000. Apparently, the positive comments of Ark Investment Company supported Bitcoin. The director of the investment company said that he is optimistic about the future of Bitcoin and welcomes the downward and healthy correction of the market.

Tesla's $ 1 billion profit from investing in Bitcoin

Tesla's $ 1 billion profit from investing in Bitcoin

Tesla (NASDAQ: TSLA) made about $ 1 billion last month by investing in bitcoin.

Dan Ives, an analyst at investment firm Wedbush Securities, said Tesla was on track to make more money from its investments in Bitcoin than from its 2020 EV sales.

Ives and his team believe that other state-owned companies will follow Tesla in this speculative game.

"We still expect less than 5% of companies to follow this path until more cryptocurrency targets are established," he said. Clearly, it is clear that acceptance is higher in 2021, and we believe that this will have a significant impact on blockchain, payments, banks and more.

EURUSD pair trend Tuesday, February 2

EURUSD Tuesday, February 2

The short-term trend of the Euro against the US Dollar is neutral and the EURUSD fluctuates in the range of 1.2052-1-1888. From the sellers' point of view, the break of the support of $ 1,2052 could revive the correction that started from $ 1,2348. In this case, the short-term trend of EURUSD will fall to $ 1.1887 at the correction of 61.8% Fibonacci. However, in the eyes of buyers, if the EURUSD crosses above the resistance level of $ 1,2188, it can be prepared to hit the price level of $ 1,2348 again.