After the promulgation of the two high courts and one law, does cryptocurrency trading = money laundering? Can we still continue to speculate in cryptocurrencies? What is the biggest risk?
Recently, the cryptocurrency circle of friends has been flooded with a new regulation, which is the "Interpretation of the Supreme People's Court and the Supreme People's Procuratorate on Several Issues Concerning the Application of Law in Handling Criminal Cases of Money Laundering"
In short, this is a new regulation jointly issued by the Supreme People's Court and the Procuratorate to combat money laundering crimes. This new regulation has 13 articles, with the focus on comprehensively combating money laundering crimes.
In particular, Article 5 explicitly includes "virtual asset transactions" as a catch-all clause for money laundering crimes.
According to Article 13 of the Interpretation, the new regulations will come into effect on August 20, 2024.
After the "Interpretation" was officially implemented, it attracted widespread attention, especially the provisions on virtual currency.
The latest withdrawal tutorial in 2024! How to prevent receiving black money? How to withdraw money safely?
After the promulgation of the two high courts and one law, the criteria for determining "serious circumstances" of money laundering crimes were clarified, and we need to pay special attention to the issue of withdrawals.
Previously, the biggest risk of withdrawing cryptocurrencies was freezing your card or confiscating your funds. But now, not only will your bank card be frozen, you may also be convicted of money laundering. After the new regulations are introduced, the following two aspects need special attention regarding the issue of deposits and withdrawals: the first is the obligation to guard against funds during the withdrawal process, and the second is the importance of the transaction contract.
1. How do we identify black money? How do we prevent receiving black money?
On November 7, Ethereum broke through $2,800! Is the altcoin season coming?
Early this morning, Bitcoin hit a new all-time high, reaching $76,400. Ethereum also began to rise, reaching a high of $2,800.
Altcoins also saw a surge, with general increases of around 20%.
After the U.S. stock market opened yesterday, the three major stock indexes all opened higher, especially the S&P 500 and the Dow Jones Industrial Average, which opened directly higher.
Coinbase and MicroStrategy shares opened up 30% and 15%, respectively.
All spot ETFs also opened higher. BlackRock's spot Bitcoin ETF's trading volume exceeded US$4.1 billion yesterday, also setting a record high.
Today, the crypto market experienced a rebound, with Bitcoin returning to $71,000, and altcoins generally following the market trend with an overall increase of about 10%.
Currently, the price of Bitcoin is less influenced by market data and more related to whether Trump is elected.
The significant rise in Bitcoin's price after today's opening is due to market expectations that Trump will be elected.
As of the time of writing, the voting results of the U.S. election show that Trump is leading Harris 177 to 99. Next, we just have to wait and see the final result.
So who would be more favorable for the crypto market, Trump or Harris?
On November 5, will Bitcoin rise to $100,000 after the election?
The cryptocurrency market has been in a volatile trend these days, with Bitcoin fluctuating around $67,600 and Ethereum oscillating around $2,400.
Most altcoins have performed quite sluggishly, with only a few MEME coins related to the U.S. election, such as DOGE and MASK, seeing an increase.
Although Bitcoin's price has been quite volatile these days, it is less related to market purchasing power and is mainly influenced by expectations and outcomes of the U.S. election.
The latest report from Bitfinex Alpha (The Calm Before the Storm) also mentioned that after experiencing 8 months of volatility, Bitcoin nearly broke its historical high last week before sharply retracing.
November 2nd: The 10 Most Common Mistakes in Investing
1. Likes to trade frequently.
In a bull market, many people lose money due to frequent trading.
For example, if a certain altcoin rises by 100% and you sell thinking you've made a profit, it may actually be due to a larger market trend.
Then, you see it rise another 100%, unable to resist chasing the price, only for the market to suddenly crash, leading to a breakdown in mindset and forced to sell at a loss.
Warren Buffett once said: 'Wall Street makes money through constant trading; you make money by being immovable as a mountain.' This statement is very reasonable.
Bitcoin rose from $1,000 to $70,000, experiencing countless ups and downs along the way.
Some people earn cyclical money, some earn money from mid-term fluctuations, but some earn by being immovable as a mountain.
In the past couple of days, the overall crypto market has experienced a pullback, with Bitcoin dropping below $70,000, currently oscillating around $69,600.
So why is Bitcoin declining? Are there any negative news?
This pullback is mainly due to the uncertainty surrounding the U.S. presidential election.
According to the latest polls, Harris's support rate has started to lead Trump again, which has raised some concerns in the market about Trump's potential defeat.
Moreover, the recent poor performance of tech stocks, along with disappointing U.S. core PCE data, has affected market sentiment and confidence.
October 31: MicroStrategy plans to raise $4.2 billion to purchase BTC!
Yesterday, MicroStrategy and Coinbase released their third-quarter financial reports, and from their financial data, the apparent earnings were not very good. Therefore, after the financial reports were released, their stock prices fell.
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Moreover, the three major U.S. stock indices experienced a slight pullback yesterday, which also affected the crypto market.
Bitcoin is currently fluctuating around $72,000, while Ethereum is oscillating at $2,650. Altcoins are also following the market's pullback, generally down about 5%.
Although MicroStrategy and Coinbase's financial reports are not very good, the impact on the crypto market is not significant.
October 30th American investors FOMO! Will Bitcoin hit $80,000 this week?
Stimulated by the US election and US stock earnings season, Bitcoin surged to US$73,620 yesterday, just US$150 away from its all-time high of US$73,777.
However, compared with Bitcoin, Ethereum's performance is much worse, and most projects are currently being drained of money by Bitcoin.
A friend asked, will there be a big correction after the US election?
Judging from the trends after previous US elections, the three months after the election are generally favorable for risk markets, and it is highly unlikely that the market will plummet as soon as the results come out.
Over the past 60 years, risk markets have overwhelmingly continued to rise after elections.
October 29: BTC Strongly Breaks 70,000! Can It Reach New Heights in November?
Today, the crypto market experienced a widespread rally, with Bitcoin breaking 70,000, reaching a high of 71,500, and Ethereum rising to 2,600.
Among altcoins, DOGE and SHIB have surged the most, rising over 10%. This is mainly due to Musk posting an image featuring elements of Dogecoin's Shiba Inu.
What has driven the rise of Bitcoin?
This rise is mainly attributed to expectations that Trump may win, as well as the stimulus from the U.S. earnings season.
Some smart money may have known something in advance and started to rush ahead.
October 28: Is the U.S. government investigating USDT?
Over the weekend, the market was not highly volatile, and liquidity was relatively poor. Bitcoin oscillated around $68,000, while Ethereum fluctuated around $2,500.
The current market trend is very similar to Bitcoin's trend before the spot ETF.
Bitcoin struggles to maintain an independent trend, mainly driven by external factors.
Currently, the factors most affecting Bitcoin's price are the U.S. elections and the earnings season for U.S. stocks.
However, as long as no black swan events or substantive negative news occur, the possibility of a significant drop in Bitcoin is very low.
Among altcoins, the MEME sector still performs strongly, with market funds and attention focused on the Solana ecosystem.
On October 26, the Ethereum exchange rate hit a new low. Is there still hope for ETH?
Affected by the war between Israel and Iran, the crypto market saw a pullback, with Bitcoin falling back to $66,700 and Ethereum falling back to $2,440. The overall decline in altcoins was around 10%.
Early this morning, Israel launched an attack on Iran in retaliation for Iran's massive missile attack on October 1. According to Israel Public Broadcasting, Israel's strike operation has ended after three waves of air strikes. At present, the impact of the Middle East war on Bitcoin is limited, and BTC is still fluctuating in the range of US$64,000 to US$69,000.
October 23: The US election is approaching, can BTC break through $80,000?
In the past two days, the crypto market has not fluctuated much. Bitcoin fluctuated at $67,200 and Ethereum fluctuated at $2,620.
Among altcoins, the MEME and blockchain game sectors performed the strongest, with GOAT, BIGTIME, and PIXEL rising by more than 15% against the trend.
There are 14 days left until the US election. Unless a black swan event occurs, the market is unlikely to fluctuate too much.
Let's take a look at the news and data that are worth paying attention to:
1. Trump's chances of winning the election rose to 64.5%, leading Harris by nearly 30 percentage points
On the prediction market Polymarket, Trump's probability of winning the US presidential election has risen to 64.5%, nearly 30 percentage points higher than Harris.
October 21 Musk: If Trump loses the election, I'm done!
This morning, Bitcoin once again began to hit the high point of $70,000, reaching a peak of $69,500, just one step away from $70,000. The price of Ethereum also rose to $2,760.
Altcoins generally rose by more than 10%, among which APE performed the strongest, rising by more than 70%.
This is mainly driven by the Meme craze on the APE chain.
Recently, Yuga Labs made a big move and launched ApeChain.
This is a Layer 2 blockchain based on Ethereum, mainly to improve user experience.
To make cross-chain transactions easier, they also launched Ape Portal, which makes cross-chain transactions easier.
Data summary on October 19: 7 major positive factors push BTC to hit $100,000!
Last night, the price of Bitcoin hit $69,000, just a little short of $70,000.
In comparison, Ethereum’s performance was weaker, reaching a high of only $2,688.
The performance of altcoins was stronger, with a wave of general rise in prices.
Yesterday, after the U.S. stock market opened, the three major indexes all rose. They have now risen for six consecutive weeks, setting the longest streak of gains since the end of 2023.
BlackRock's stock is also continuing to rise, and American investors are continuing to buy spot ETFs. These ETF investors basically hold their positions after buying, which directly reduces the selling pressure in the market.
Data summary for October 18: With the global interest rate cut wave coming, can the cryptocurrency market usher in a new round of bull market?
The crypto market has been fluctuating at high levels in recent days, with Bitcoin fluctuating around $68,000 and Ethereum fluctuating around $2,630.
If there is no new negative news, Bitcoin will most likely fluctuate between $64,000 and $69,000.
Altcoins as a whole are watching Bitcoin’s face and dare not act rashly.
Only a few MEME coins, such as POPCAT and DOGE, rose against the trend.
After the U.S. stock market opened last night, the three major stock indexes opened higher, but Coinbase fell 2%, BlackRock's stock price also fell slightly, and the price of Bitcoin also fluctuated slightly.
Data summary on October 16: Why did Bitcoin rise against the trend?
The crypto market experienced a dramatic fluctuation last night, with the price of Bitcoin first rushing to $67,950 and then quickly falling to $64,770.
Within 24 hours, $305 million worth of contracts in the market were forced to close, of which longs lost $182 million and bearish shorts lost $123 million.
This is another typical long and short explosion. In this extreme market, no matter you are bullish or bearish, as long as you play the contract, the final outcome is likely to be liquidation.
Last night, Bitcoin broke through $67,000 and then fell. Many people thought that this round of rising market was over and turned bearish. However, when the price of Bitcoin fell below $65,000, it began to rebound.