Bitcoin price LIVE – Crypto could pass $100,000 in value after recovery sees it pull away from ‘death cross’

Man loses $1.6million in scam

A man says he lost his life savings in a scheme dubbed the Pig Butchering Scam.

The 52-year-old told Denver ABC affiliateKMGH-TVthat he met a woman on a dating app who appeared to have similar interests to him.

The conversation turned tocryptocurrency, something hed made about $70,000 on in a few years.

The man told the news outlet that the woman he fell for online convinced him to invest on a mobile and web app that seemed legitimate to the software engineer.

Can you trade crypto on Robinhood?

Unlike most of its discount rivals, Robinhood offers24/7 crypto tradingthrough its platform.

That means youll have access to trade major cryptocurrencies including,Dogecoin,Ethereum, andBitcoin.

Its crypto investors can buy or sell with a market order, which means its executed at the current market price.

Risks of Robinhood, part three

In July, the platform was alsoordered to pay nearly $70millionin fines and compensation for misleading customers and outages.

If you are seeking a discount broker and are looking to open an IRA account, you can check out the following platforms: Vanguard, Fidelity,TD Ameritrade, Merrill Edge, among others.

Risks of Robinhood, part two

For investing individual stocks, make sure you check company reports, Securities and Exchange Commission (SEC) filings, broker notes, and press releases so you can make the best decisions for your money.

Another risk when choosing Robinhood along with other brokers is that they can restrict trading when theres unusual activity.

In fact, Robinhoodfaced some outrageearlier this year when it restricted trading onmeme stocksincluding GameStop and AMC.

Risks of Robinhood

When it comes to risks, investing alone is one because youre not guaranteed to generate a profit and the value of your assets could fall.

If youre choosing Robinhood so you can trade stocks and cryptocurrencies then the game gets even riskier.

Cryptocurrencies are not only difficult to understand but even tougher to predict when bearish trends in the market will take place.

For example, cryptocurrency was thriving this year up until Elon Musk said that Tesla washalting the acceptance of payments in Bitcoin.

What is Robinhood? Continued

Unlike many discounted brokers, the company does not offer individual retirement accounts.

The bulk of Robinhoods revenue comes from order flow.

What is Robinhood?

The Robinhood platform operates as a discounted brokerage that offers commission-free trading.

Specifically, users can trade exchange-traded funds (ETFs), individual stocks (including American depositary shares), and options.

You can also trade Robinhoods stock thanks to the company recently going public at a $1.2billion valuation.

What are Altcoins, continued

Simon Peters, crypto-asset analyst at eToro, said: They build on the success of bitcoin by slightly changing the rules, economics or use cases to appeal to different users.

Altcoins vary greatly in their use cases and practical application. They typically have a form of technology they underpin or provide a liquidity solution to a product or service.

What are Altcoins?

Altcoin stands for alternative coin, a type of virtual currency that uses the so-called blockchain to allow secure transactions.

Altcoin is a category of cryptocurrencyrather than a currency itself, and there are more than 900 different altcoins available.

Chinas crackdown big opportunity for US

Chinascrackdown on cryptocurrency transactions is a big opportunity for the U.S., according to Pat Toomey, the top Republican on the Senate Banking Committee.

This comes as the US Securities and Exchange Commission lobbied for more regulations when it comes to cryptocurrency.

Chinas crackdowns on crypto

While crypto creation and trading have been illegal inChinasince 2019, further crackdowns this year by Beijing warned banks to halt related transactions and closed much of the countrys vast network ofBitcoinminers.

The previous statement by the central bank sent the strongest yet signal that China is closed to crypto.

Chinas statement, continued

Bitcoin, the worlds largest digital currency, and other cryptos cannot be traced by a countrys central bank, making them difficult to regulate.

The crypto crackdown opens the gates for China to introduce its owndigital currency, which it is already working on and will allow the central government to monitor transactions.

Chinas statement on cryptocurrency

The PBOC said it will resolutely clamp down on virtual currency speculation, and related financial activities and misbehaviour in order to safeguard peoples properties and maintain economic, financial and social order.

It said that trading ofvirtual currencieshad become widespread, disrupting economic and financial order, giving rise to money laundering, illegal fund-raising, fraud, pyramid schemes and other illegal and criminal activities.

China stopped its crypto exchanges

In 2017,Chinashut down its localcryptocurrencyexchanges.

Despite the war on crypto, Chinese mines power nearly 80 percent of the global trade in cryptocurrencies.

Record crypto investments, part two

The crypto industry blew up in 2021 with crypto exchanges, start-ups dealing with NFTs, and play-to-earn gaming all highlighted as factors byFortune.

Increasing interest in theMetaversealso led to multi-million dollar investments.

Crypto investments top $30billion

Investors contributed a record $30billion to the cryptocurrency industry in 2021, according toFortune.

The news outlet cited data fromBloomberg Newsthat reportedly showed $7.2billion came from investors based in the United States.

The $30billion is almost four times the $8billion that investors spent with companies in the crypto industry in 2018, Fortune reported.

Play-to-earn gaming, part two

The new play-to-earn gaming model that rewards gamers withcryptocurrencyfor playing isnt technically free.

Gamers could have to spend $1,000 or more in order to start earning in the Axie Infinity universe, according toForbes.

The popular platform for play-to-earn gaming requires beginners to have three Axies, which are available for purchase on the gamesMarketplace Dashboard.

Participants can then earn cryptocurrency for selling potions, breeding rare Axies, and playing various games.

What is play-to-earn gaming?

A unique model called play-to-earn gaming is driving non-fungible token (NFT) andcryptocurrencygrowth,Forbesreported.

Axie Infinity is the most popular platform for play-to-earn gaming at the moment.

It allows users to build a collection of Axies that players can use across its universe of games.

The company then uses Blockchain to reward players for gaming, according to Forbes.

Any digital assets earned by participants can be sold on the platform or traded outside Axie Infinitys universe.

Bitcoin milestone, part two

Bitcoinwas created in 2009 by an unknown computer whizz using the alias Satoshi Nakamoto.

Data from Blockchain.com on Monday showed 18.9 million of the 20,999,999,9769 possible Bitcoins had been mined.

Its a milestone that took 12 years to reach.

Experts believe the lastBitcoinwill be mined in February 2140.

One Bitcoin is currently worth around $47,000.

Value could shoot up as thecoins become more scarce, experts said.

Less than 10 percent of Bitcoin left to mine

There is less than 10 percent ofBitcoin left to mineas the cryptocurrency passed a major milestone in December.

Data from Blockchain.com showed 18.9million out of a possible 21million of the virtual coins have been mined.

Bitcoinis the worlds first entirely virtual currency and new currency is created by mining, a complex online process that uses computer code.

It involves using a computer to solve a mathematical problem with a 64-digit solution to create new coins.

For each problem solved, one block of Bitcoin is processed. The miner that is first to solve the problem is rewarded with a new Bitcoin.

These new coins are then stored virtually through an online database called the blockchain.