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On 24 September 2021, the People’s Bank of China (PBoC) reiterated its position that digital assets such as bitcoin, ether and tether do not have legal tender status. The PBoC made it clear that they prohibit activities such as marketing, payment/settlement and technical support when related to cryptoassets. It is also stepping up enforcement on crypto exchanges or persons acting as a central counterparty to any buying/selling activities and product issuance for Chinese clients.
On 24 September 2021, the People’s Bank of China (PBoC) reiterated its position that digital assets such as bitcoin, ether and tether do not have legal tender status. The PBoC made it clear that they prohibit activities such as marketing, payment/settlement and technical support when related to cryptoassets. It is also stepping up enforcement on crypto exchanges or persons acting as a central counterparty to any buying/selling activities and product issuance for Chinese clients.
The outlook for cryptocurrencies has become a hot topic for market participants, spectators and press alike. While the cryptocurrency market recently experienced a pullback amid a series of negative news flow, it is not all doom and gloom. Much has been said about Bitcoin (BTC), but Ether (ETH) is increasingly presenting an interesting opportunity for investors.
Wednesday 19 May was a massive day for bitcoin and crypto and there is a lot of speculation about what happened and if we're now in a bear market. Jason Guthrie looks at what happened recently to precipitate the crypto crash.
Bitcoin pushed past $40,000 for the first-time having run-up over 265% since October and over 430% in the last 12 months making it one of the best performing assets of 2020. People often ask why has it moved this much? What’s it worth? In this blog, we’ll have a look at some major factors that may be involved in the increased demand of the digital asset.