Anonymous ID: 552f69 April 18, 2021, 7:34 a.m. No.46366   🗄️.is đź”—kun   >>6375 >>6385 >>6406 >>6410

Bitcoin slumps 14% as pullback from record gathers pace

 

Bitcoin, the world’s biggest cryptocurrency, fell as much as 14% to $51,541 on Sunday, reversing most of the big gains it made over the past week. Bitcoin was last trading down 10% at $53,991 as of 1320 GMT, a whopping $12,000 below record highs set on Wednesday. Smaller rival Ether, the coin linked to the ethereum blockchain network, dropped 10% to $2,101. Data website CoinMarketCap cited blackout in China’s Xinjiang region, which reportedly powers a lot of bitcoin mining, for the selloff.

 

Luke Sully, CEO at digital asset treasury specialist Ledgermatic, said in an email that people “may have sold on the news of the power outage in China and not the impact it actually had on the network”. Some widely-followed blockchain analysts on Twitter pointed to a sharp drop in “hash rate” due to the outage.

 

Hash rate refers to the volatility index that measures the processing capacity of the entire Bitcoin network, and it determines the power required by miners to produce new Bitcoins.

“Typically shocks to hash rate do not cause price drops. A hash rate reduction slows transactions, which ironically makes it harder to move coins to exchanges for sale. The recent price drop is well within the bounds of typical volatility, it is noise not signal,” said Edan Yago, co-founder at Bitcoin-based decentralised finance protocol Sovryn.

 

The retreat in Bitcoin also comes after Turkey’s central bank banned the use of cryptocurrencies for purchases on Friday.

Historically, retail and day traders have driven the moves.

 

Despite the sudden selloff, bitcoin is still up 89% so far in 2021, driven by its mainstream acceptance as an investment and a means of payment, accompanied by the rush of retail cash into stocks, exchange-traded funds and other risky assets.

https://www.reuters.com/article/crypto-currency-bitcoin/update-1-bitcoin-slumps-14-as-pullback-from-record-gathers-pace-idUSL1N2MB07M

https://www.coindesk.com/price/bitcoin

Anonymous ID: 552f69 April 18, 2021, 8:45 a.m. No.46376   🗄️.is đź”—kun   >>6385 >>6406 >>6410

>>46373

RCH768T USAF C-17 Globemaster on approach for Piedmont Int'l Airport Greensboro, NC from JBA depart.

 

Kneepads to Greensboro, NC tomorrow

Harris to make first visit to North Carolina as vice president to tout jobs plan

Harris is set to make stops in Greensboro and High Point on Monday, the White House said.

https://www.charlotteobserver.com/news/politics-government/article250676884.html#storylink=cpy

Anonymous ID: 552f69 April 18, 2021, 10:38 a.m. No.46381   🗄️.is đź”—kun   >>6385 >>6406 >>6410

Trudeau to Pile on Record Debt Steering Canada Out of Pandemic

 

Justin Trudeau is set to unveil a vision for Canada’s post-pandemic recovery that will double as election platform, heavy on new spending and assurances the mounting debt is affordable. The April 19 budget, the prime minister’s first full fiscal plan since before Covid-19 hit, is an opportunity to lay out longer-term aspirations he’ll be able to campaign on in a national vote that could see him regain his parliamentary majority. Trudeau’s government has signaled as much as C$100 billion ($80 billion) in additional money over the next three years for initiatives from childcare to green energy. Expectations are being set so high that an even more ambitious plan can’t be ruled out. Finance Minister Chrystia Freeland has described the budget as “among the most significant of our lifetime.”

 

It’s landing at a tense moment. The economy is healing faster than expected, but a recent surge in virus cases is forcing Canada’s largest province, Ontario, to impose the most stringent restrictions on movement yet. Delivery delays have plagued the nationwide vaccine effort. It’s landing at a tense moment. The economy is healing faster than expected, but a recent surge in virus cases is forcing Canada’s largest province, Ontario, to impose the most stringent restrictions on movement yet. Delivery delays have plagued the nationwide vaccine effort. The new spending will be on top of record levels of debt the nation is already taking on. Canada will likely report a budget deficit of C$363 billion, or 17% of gross domestic product, in the fiscal year that ended March 31, according to the federal spending watchdog. Another C$150 billion budget gap is projected this year, according to the average forecast from a Bloomberg survey of economists. By the time all the money is out the door, Trudeau will probably have accumulated more debt than all 22 prime ministers who preceded him combined. But he’s still betting Canadians are in the mood to think big.

moar

https://www.bnnbloomberg.ca/trudeau-to-pile-on-record-debt-steering-canada-out-of-pandemic-1.1591899