Between China, El Salvador and Paraguay: A Raging Week For Bitcoin

Unfortunately, it was another challenging week in the cryptocurrency market, though this can only be said about the developments in terms of price. Elsewhere – adoption seems to be booming, especially when it comes to Bitcoin. Starting off with the price – bitcoin is currently trading at around $33,000, down about 13% in the past seven days. The cryptocurrency started off relatively flat, but on Monday, things took a turn for the worse, as BTC dropped from $36K down to $32K. This happened as the third-biggest bank in China announced…

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JPMorgan Implies that El Salvador’s Bitcoin Move Has no Economic Benefits 

Following El Salvador’s move to adopt bitcoin as a legal tender in the country, Wall Street giant JPMorgan seems not to be impressed by such a monumental decision from the Central American nation. JPMorgan Comments on El Salvador’s Bitcoin Move In a recent note to investors, as tweeted by Financial Times correspondent Robin Wigglesworth, JPMorgan commented that the recent move made by El Salvador to make bitcoin legal tender was growth-oriented. However, the American investment bank seemed to imply that the decision by the country had no economic benefit, adding…

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