China News by Thebittimes.Com

In a massive development for the country, Taiwan’s Financial Supervisory Commission (FSC) has allowed professional investors to gain access to foreign Bitcoin and other crypto ETFs. Indeed, the commission announced the change Monday, allowing select investors to participate with “foreign virtu asset” exchange-traded funds. The crypto-based ETF market has surged in the United States this year. After receiving the first Bitcoin ETF approval in January, Ethereum quickly followed suit just a month earlier. Now, Taiwan has looked to expand “product choices,” for the country’s investors through its recent decision. Image Source: Pexels Also Read: SEC Approves BNY Custody of Crypto Beyond ETFs Taiwan FSC to Allow Crypto ETF Access in Notable Shift 2024 has been massive for Bitcoin, and its recently approved ETFs. Just last week, the ETFs of the leading crypto drew more than $1 billion in net inflows. That has proven to be its highest since July, and a notabl...

The BRICS summit is scheduled to be held from October 22 to 24, 2024 in the Kazan region of Russia. The 16th summit will see nine countries at the table to discuss issues about trade and opportunities to use local currencies. Four new nations joined the bloc this year which includes the UAE, Egypt, Ethiopia, and Iran. Argentina rejected the membership while Saudi Arabia has kept the decision to join pending. Also Read: BRICS: 40 Countries Want To Ditch the US Dollar On the heels of the BRICS 2024 summit, more than 40 countries have expressed their interest to join the bloc. While around 25 countries have formally submitted their applications, nearly 15 nations have informally expressed their desire to be a part of the alliance. Most of these nations hail from Asia, Africa, and South America. Almost all the countries that are interest to join the bloc wants to end reliance on the US dollar and promote local currencies for trade. Read here to know how many sectors in the US will be affec...

Crypto market leaders Bitcoin and Ethereum experienced small pullbacks ahead of Federal Reserve Chair Jerome Powell’s speech later today and the upcoming release of US jobs data on Friday, Oct. 4 Bitcoin tumbled more than 1% to trade at $64,538.67 as of 3:40 a.m. EST. Ether, the largest altcoin by market cap, saw its price dip a fraction, taking it down to $2,637.31, according to CoinMarketCap . Despite those dips, some analysts remain optimistic that an interest rate cut in the US and a package of stimulus measures in China are potential drivers of an Uptober bull run. China Stimulus And Macroeconomic Factors Could Ignite Next Bull Run On Sept. 27, BTC reached its highest point since July and soared to nearly $66,500. This rally was ignited by lower-than-expected personal consumption expenditure (PCE) data in the US, and followed news that China was taking measures, including an interest rate cut, to boost its faltering economy. Despite BTC’s recent pullback, analyst...

In times like this, every investor seeks out key indicators of potential success: price trends, unique technologies, and market opportunities. Today, we turn our attention to the top crypto gainers —Karrat, Terra Classic, Decred, and SSV Network. These tokens are turning heads with impressive price movements and innovative Features that spark curiosity. Let’s explore what makes these gainers so special in today’s market!   Biggest Crypto Gainers Today – Top List Karrat has surged significantly, fueled by its innovative gaming infrastructure and successful NFT launches. Meanwhile, Terra Classic gains traction with its burn proposal aimed at reducing supply.  However, Decred, known for its unique governance model, shows commitment to security and user involvement while facing long-term challenges. Lastly, SSV Network revolutionizes Ethereum staking with decentralized infrastructure, enhancing security and performance. Together, these tokens highlight ...

The sustained consolidation of XRP below $0.60 has drawn a fair share of criticisms, with select market players questioning the token’s long-term sustainability. However, a crypto trading expert views this as insignificant, noting that XRP’s long-term prospects remain intact. This projection stems from the fact that the Ripple-affiliated token has been building a solid base since bottoming out in June 2022, supported by a rising trendline that continues to hold firm, according to Alan Santana, who made the observation in a TradingView post on September 26. He noted that XRP has experienced 1,650 days of higher lows and extended consolidation, indicating what to expect in the next bull run. In this case, the upcoming bullish wave for XRP could see exponential gains, confirming the token’s strong potential in the long term. Picks for you ...

In what is a testament to the power of the leading crypto, Michael Saylor’s MicroStrategy is nearing $7 billion in profit, driven by its continued Bitcoin investment. Indeed, the firm has embraced a BTC acquisition strategy. Subsequently, the asset’s continued growth has driven the company’s value upward in 2024. Saylor has remained one of the asset’s most outspoken advocates. The firm most recently purchased another $489 million worth of Bitcoin just a week ago. Moreover, that brings the company’s total BTC holdings to a value above $10 billion, with its strategy paying off massively this year. Source: Bloomberg Also Read: Michael Saylor’s MicroStrategy Raises $1B to Buy More Bitcoin MicroStrategy Nears $7 Billion in Profit as Bitcoin Bet Pays Off Big 2024 has proven to be a monumental year for Bitcoin. The token became the first crypto-based ETF in the United States and reached an all-time high of $73,000 just three months into the year. Although it has h...

The OG cryptocurrency Shiba Inu has broken its milestone and is now massively up 23% at press time. The token has surged high to hit a new price pedestal of $0.00001893. Will it be able to maintain its steady pace this weekend or for the next set of months? Let’s find out Also Read: Cryptocurrency: 3 Coins To Hold If You Like XRP & Cardano Shiba Inu Surges 22%: What’s Happening? Image Source: Watcher Guru Shiba Inu has surged 22% in a massive price rally. The token is currently trading at a new price level of $0.0001893, after breaking months of consolidation. The token has outpaced several other altcoins to reach the top of the radar. According to CoinMarketCap, SHIB has noted a 237% surge in its trading volume, which ultimately resulted in the token’s transformative price spike. Elaborating on statistics, CMC shared how Shiba Inu’s trading volume amounted to $1,385,064,509, with trillions of SHIB being traded within the cryptocurrency sector. The surge comes after th...

Alleged cryptocurrency scammer Moshe Hogeg has successfully run another project into the ground, raising more investor concerns that they’ve been defrauded, as he awaits a monumental decision that could send him to prison. Hogeg co-founded cryptocurrency Tomi in 2023, with a supposed vision to “increase digital freedom and build a more democratic and decentralized internet.” Launched at $1.15 in January of that year, the token surged to an all-time high of $6.59 by June. However, at press time, $TOMI trades for just $0.05 , its market cap having shrunk from $350 million at peak to just $26.8 million. This downward spiral has seriously peeved investors, who at best accuse Tomi of failing to provide customer safeguards and at worse feel that they’re being taken for a ride. Tomi launched at $1.15 in January 2023 and soon surged to an all-time high of $6.59. While bitcoin and ether prices are pumping, $TOMI has stayed the same — a huge red flag that the f...

The cryptocurrency market is currently stable, with Bitcoin sitting at $63K at press time. With BTC claiming its $60K mark, the altcoin market has also responded well to the change. Leading meme coins Shiba Inu and Dogecoin have also noted modest spikes in their price, but a bullish transformative price movement is yet to be documented. As October nears, investors’ hopes are high, considering the month’s “Pumptober” effect. Will Doge and Shib be able to claim a new ATH this month? Let’s find out. Also Read: Yuan Is Rising On A Global Radar: Is US Dollar Losing Its Charm? Shiba Inu Price Prediction Image Source: Watcher Guru Shiba Inu is one of the most popular crypto tokens in the current crypto scenario. SHIB is currently trading at $0.00001552, up 4% in the last 24 hours. Throughout the month of September, the token had shown modest price performance with minimal price spikes and surges. However, as October approaches, the Pumptober effect may help SHIB claim new pri...