CRYPTO IS BACK! Bitcoin Dogecoin Ether Altcoins Cryptocurrency Bull Market Elon Musk WOW!

CRYPTO IS BACK! Bitcoin Dogecoin Ether Altcoins Cryptocurrency Bull Market Elon Musk WOW!

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CRYPTO IS BACK! Bitcoin Dogecoin Ether Altcoins Cryptocurrency Bull Market Elon Musk WOW!

Reports state that Bitcoin traders are using up to 100-to-1 leverage, taking excessive risk in the bitcoin market being forced to sell when the price goes down.

While this is currently only available in Asia, Robinhood does not allow traders to use margin for cryptocurrency, and Coinbase only allows it for professional traders.

According to JMP analyst Devin Ryan: “Selling begets more selling until you come to an equilibrium on leverage in the system.”

They continued: “Leverage in the crypto markets — particularly on the retail side — has been a big theme that accentuates the volatility.”

What do you think about leveraging bitcoin sales and how it can impact the blockchain? Let me know in the comments below.

Meanwhile, PayPal has announced their plans to offer bitcoin withdrawals on the popular online payment platform.

PayPal's head of cryptocurrency, Jose Fernandez da Ponte, said: “the company will soon be letting its users send Bitcoin and other cryptos out of PayPal.’

PayPal's CEO, Dan Schulman stated: "Demand on the crypto side has been multiple-fold to what we initially expected. There's a lot of excitement."

He continued: "We’ve been looking at digital forms of currency and DLT for six years or so. But I thought it was early, and I thought the cryptocurrencies at the time were much more assets than they were currency. They were too volatile to be a viable currency."

My, how the times have changed! I hope this PayPal partnership will get even more people into the world of crypto, as it continues to gain acceptance across the world.

Finally, reports have started to emerge regarding the founder of Dogecoin, Billy Markus, and his thoughts on Elon Musk's fandom for the altcoin and the popular dogecoin millionaires.

After defending his support for dogecoin on Twitter, Markus replied “Thank you for saying this.”

When asked about his thoughts on the people making millions of dollars over his memecoin, he replied: “One day…you may sell. You may make money or not, who knows. To be clear – I don’t care if people sell, at all. People should literally do what they think is best for them, at all times.”

With so many eyes on dogecoin, the 4th most valuable cryptocurrency continues to make waves and stir up the blockchain on a daily basis.

#bitcoin #cryptocrash #crypto

Source: https://www.thestreet.com/crypto/bitcoin/paypal-to-start-allowing-bitcoin-withdrawals

https://www.cnbc.com/2021/05/25/bitcoin-crashes-driven-by-big-margin-bets-new-crypto-banking.html

https://www.benzinga.com/markets/cryptocurrency/21/05/21292503/why-dogecoin-creator-billy-markus-is-disappointed-in-dogecoin-millionaires

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