China News Daily TheBitTimes.com

Bitcoin (BTC) reversed sharply again on Tuesday, October 21, sliding nearly 3% and trading as low as $107,552 in the early hours, having lost all of its weekend momentum. The asset moved in step with the overall crypto market, whose total valuation has dropped more than 2% to $3.67 trillion. As expected, the new setback is tempering expectations for “Uptober,” the month known for strong gains, with Bitcoin now down 6.30% over the past month, trading at $108,290 at the time of publication. BTC monthly price chart. Source: Finbold Altcoins mirrored Bitcoin’s decline. Ethereum (ETH), for example, has dropped 5.3% to $3,859, while XRP has fallen 2.2% to $2.41, showing little reaction to Ripple Labs’ announcement of a new treasury-backed vehicle, Evernorth. At the same time, BNB shed 5.7%, while Cardano (ADA) and Solana (SOL) lost between 4% and 6%. Among memecoins, Dogecoin (DOGE) saw the greatest losses, losing 4.3%. Why is Bitcoin down? As mentioned, the ...

Justin Bons, founder of Cyber Capital, a cryptocurrency investment firm, has warned that the chances of Bitcoin (BTC) collapsing in the coming years remain high.  Bons pointed to diminishing block rewards, which are set to fall to 0.39 Bitcoin by 2036 under the current halving schedule.  At today’s prices, this would translate to an annual security budget of roughly $2.3 billion, an amount he deems insufficient to protect a network with a potential market cap in the trillions, he said in an X post on August 17. This decline, he argued, could make it economically feasible for attackers to launch 51% attacks, enabling them to manipulate transactions and undermine trust in the system. The cryptocurrency researcher also highlighted the limitations of Bitcoin’s current governance structure. He contends that the Bitcoin Core development team, which controls key updates, has resisted increasing block sizes or allowing inflation beyond the 21 million coin cap. ...

Robert Kiyosaki, American businessman and educator, has sounded yet another financial alarm. In a recent social media post, the author of Rich Dad Poor Dad warned that the global economy could be on the brink of a collapse comparable to the 1929 crash and the Great Depression.  Kiyosaki’s warning cites ballooning U.S. debt as the chief reason for concern and recommends, in his characteristic fashion, a shift toward assets such as gold, silver, and Bitcoin (BTC). “I sit tight with gold, silver, & Bitcoin. Good luck. We may be on the brink of another 1929 crash and another Great Depression. America’s debt is out of control. America is the worlds biggest debtor nation in history. You can only print money to pay your bills….for so long.” DO YOU have a 401k or IRA filled with stocks? DO YOU know investment legends Warren Buffet and Jim Rogers have sold most if not all of their stocks and bonds? They are both in cash or silver. If you do not know why B...