We saw some slight signs of recovery on the cryptocurrency markets during the first few days of Q3 2021 as total market capitalisation of the sector rose back to $1.5 trillion. After several weeks of red numbers, the majority of top 100 cryptos finally ended the week in the green again. But what is next? Which cryptocurrencies are poised to continue following the uptrend? You can find three ideas for your potential investments in Week 27 in this article.
What started as a peer-to-peer payment system has grown to become one of the most rewarding investments of this time. Even though Bitcoin is currently going through a troubling period in the bearish zone, this has not stopped more parties from pushing for its adoption. One of them is Mexican billionaire Ricardo Salinas Pliego, who has mentioned that his bank is looking to kickstart the adoption of Bitcoin by financial entities in the country.
The Financial Conduct Authority of the United Kingdom has issued out a memo warning traders against carrying out trading activities with over 100 cryptocurrency companies. According to the FCA, the companies mentioned have not undergone the required testing and have not registered as licensed service providers in the country. This recent news is coming off the back of the Ontario Securities Commission calling out Bybit and other cryptocurrency exchanges for failing to register their exchanges.
Crypto exchanges have cemented their role as the go-to platforms when traders want to exchange between digital assets. While there is an impressive list of crypto exchanges that are available across the globe, United States-based Coinbase has cemented its place as one of the leaders in this aspect. The crypto exchange made a massive leap in April, becoming the first cryptocurrency exchange to go public in the U.S. stock market.
Even though some investors are still bullish on Bitcoin despite the major price dips that have happened since April, a new report has shown that institutional investors may be losing interest in Bitcoin.
Just when we thought the crypto markets cannot plunge lower, we got hit by the last full week of Q2 2021, which was characterized by the total market valuation low of $1.27 trillion and Bitcoin dipping below $30,000 for the first time since January 27. Without a doubt, this is the period of the bears. But even when bears are ravaging almost every crypto asset, you can still find shelter by carefully selecting the coins you invest in. Perhaps you can find some inspiration in out top 3 coins to watch for next week.
Trading crypto assets is easier than ever thanks to the services provided by crypto exchanges. The likes of Coinbase and Binance have become multi-billion dollar companies by giving users a way to easily buy and sell cryptocurrencies.
Over the last few months, we have witnessed some groundbreaking achievements in the crypto industry. Even though regulators in the USA still haven’t approved a Bitcoin ETF (exchange-traded fund), this type of investment vehicle is now becoming available in other countries. For example, Canada’s first Bitcoin ETF launched earlier this year, and additional options have since also become available to Canadian investors.
In the last few months, they have been growing concerns over the amount of energy expended in the mining of Bitcoin. Tesla CEO Elon Musk started this chain of events after he mentioned that he was concerned about the energy sources that are being used to mine Bitcoin. While that is by the side, the Sichuan province of China is cracking down heavily on Bitcoin mining across the region. In the report shared by PA News, the Science and Technology Bureau and the Energy Bureau of Sichuan Ya’an have ordered that mining operations need to be shut down by June 25.