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Here’s What is New in the World of Cryptocurrencies Today

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Bitcoin SHOCK: THIS Google Search Can Predict Next Bitcoin BOOM – Cryptocurrency Analyst (Express.co.uk)
Nick Colas, co-founder of DataTrek Research, has published groundbreaking research on how Google Trends on how cryptocurrencies such as bitcoin and Ripple mirror price rises and falls. Speaking to CNBC, Mr Colas said that the number of Google searches on ‘bitcoin’ mimicked the price trend of the cryptocurrency. He told the business network: “Bitcoin – because it has a notionally fixed supply – will vary price based on demand. “By looking at the number of people who search for the word ‘bitcoin’ on Google, we get a pretty good sense of where the interest is. “The search trends show the same price trends. Just after Thanksgiving, the sharp rise in bitcoin search trend saw a double in wallet growth.”

Why the Bitcoin Boom Will End in Tears (Observer.com)
During a brief sojourn in the investment world 15 or so years ago, I remember a colleague’s analysis of the then-red hot housing market. “Oh, we know how the story’s going to end,” he said. “We just don’t know when it’s going to end.” Watching the wild ride of Bitcoin and its fellow cryptocurrencies, it’s hard to avoid the sense of deja vu. Flashing red lights are everywhere, from enormous day-to-day market gyrations to troubled companies scrambling to recast themselves as crypto plays. Let’s face it, there’s no way this all ends in anything but tears.

Pixabay/Public Domain

Pixabay/Public Domain

‘Bitcoin Could Alter the World’, Says Former U.S. Senator Judd Gregg (CoinDesk.com)
Former New Hampshire governor and three-term senator Judd Gregg has said he believes bitcoin could alter how the world views currency. In an opinions piece published by The Hill yesterday, Gregg outlined why he thinks people believe in bitcoin, how bitcoin could be used and what it could mean for the global economy. Briefly comparing bitcoin to gold, Gregg noted that the latter has value because it is rare and widely accepted by banks, while the former is supported primarily by the belief of its holders. The key difference is that bitcoin is not held by central banks at this time, he wrote.

Bitcoin Investors Warned they could Unknowingly Owe Tax Ahead of Self-assessment Deadline (CityA.M)
Bitcoin investors who made huge gains when the cryptocurrency’s value rocketed last year have been warned that they could unknowingly owe tax to HM Revenue and Customs (HMRC). However, there is some confusion around the issue, as Ed Molyneux, the boss and co-founder of cloud accounting software provider FreeAgent, explains: “HMRC sees bitcoin profits being subject to capital gains tax, but there does not appear to be a definitive answer on the issue yet, which could cause confusion among investors.” It comes down to whether bitcoin is classified as an investment or a currency. Currencies are exempt from capital gains tax, but investments and commodities are not.

Ethereum Price Prediction this Week: Going Down, but will Come Back! (ETH /USD) (Smartereum.com)
Ethereum is continuing to move in a positive trend. After reaching around $ 1088, it fell all the way to $ 920 and then again, it has risen to $ 1180. Thus, you can be sure that actually, Ethereum is in a positive uptrend and this uptrend is surely going to continue. The current market cap of Ethereum is around $ 105 billion. Ethereum is now the 2nd most valued cryptocurrency. The trading volume of Ethereum is also going strong in the neighborhood of $ 4 billion every 24 hours. This is one of the main reasons why Ethereum is gaining more and more value as well.

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