Bitcoin News Today TheBitTimes.com

The Modi government is placing a ledge on the de-dollarization ideals and making way for the US dollar to thrive. BRICS member India has once again rejected the prospects of a new currency and praised the US dollar for maintaining global stability. India’s Foreign Minister S. Jaishankar spoke in favor of the US dollar sidelining the idea of launching a new currency on the global stage. Also Read: The U.S. Dollar is Losing Luster: Reuters Poll India is the only country in the bloc that is moving away from the formation of a new common currency. BRICS members Russia, China, and Iran are aggressively pursuing the agenda to topple the US dollar from the world’s reserve currency status. The alliance is now divided as India is stepping aside and Brazil also revealed that they plan to drop the idea of a BRICS currency. Also Read: US Dollar & Stock Market Weakens as Trump Tariffs Go Live Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for tr...

President-elect Donald Trump threatened BRICS countries with 100% tariff rates if they decide to ditch the US dollar for trade. Trump made it clear that de-dollarization or launching a new currency and payment system to bypass the US dollar will be met with a 100% tariff on goods entering the US markets. If the tariff is imposed, BRICS countries will find it hard as their imports and export sectors will be hit. Also Read: BRICS: 2 Countries Pay 80% of Trade in Local Currencies, Not US Dollar On the heels of the recent 100% tariff threats by Trump, BRICS countries have reacted to the development. While some members doubt the tariff can be put in place, others remain cautious to not irk the President-elect. The balancing act of diplomacy now comes into the picture and how they navigate the next four years will decide the success of the de-dollarization agenda. Also Read: No Turning Back On Launching BRICS Payment System: Diplomat 100% Tariffs on Goods Entering the US: BRICS Reacts to Tru...

The crypto market is widely known for its significant volatility. Hence, it’s less surprising that the market has returned to an up trend after about 7 days of declining prices across the board. Today, Bitcoin is pushing toward reclaiming its 2021 ATH, and most market participants anticipate a push for the $72k levels afterward.  Altcoins are also pushing their bands of the upper range, particularly newly listed tokens. These trends account for the market performance of the top trending cryptocurrencies on the Avalanche network , as these cryptos post surprising price increases in the last 24 hours. Trending Cryptocurrency Tokens on Avalanche Chain  Novelty is often the norm in the crypto space as innovators find new use cases for Blockchain technology. Recently, one of the trending upcoming projects in the market, the 99Bitcoin, announced the presale offering of the 99BTC token, which has attracted over $2.5 million from hundreds of crypto investors and enthusiasts a...

It’s not business as usual in the crypto market, as the atmosphere has worsened over the past week. After some brief explosive gains that took the price of BTC to a new all-time high of $73,780.07, it tumbled into a significant pullback. The occurrence resulted in a massive decline in crypto prices. Interestingly, many altcoins, including Hedera, Optimism, and Starknet, are not following BTC’s recent bearish trend. Based on the market data from these cryptocurrencies, some have posted gains in the same period, and higher gains are likely. It’s becoming evident that some of these tokens will become the next cryptocurrencies to explode . Next Cryptocurrency to Explode Crypto investors and traders are looking to seize new opportunities and make more profits. Some analysts suggest that the next big cryptocurrencies might be found among upcoming projects. Keeping this in view, it’s worth checking out WienerAI. The project aims to merge AI and crypto trading to crea...

A BRICS common currency will be challenging to initiate and maintain, though efforts to dethrone the US dollar could have an impact on Bitcoin, says investment strategist Lyn Alden. Macroeconomist Lyn Alden has cast doubt on a proposal that would see five countries work together to develop a common BRICS currency — arguing it will likely struggle to get off the ground and fail to dethrone the United States dollar. In an interview with Cointelegraph just days before the BRICS annual summit in South Africa, Alden explained that it will be “very hard” for BRICS members — Brazil, Russia, India, China and South Africa — to form a gold-backed currency for widespread use. Russian President Vladimir Putin first announced that BRICS proposal to create an international reserve currency at the BRICS summit in 2022 to rival the U.S. dollar as the global reserve standard. This proposal was later confirmed to come in the form of a gold-backed currency. However, Alden argued the model is flawed. ...

Where Europe and the UAE are embracing cryptocurrencies, Pakistan is deciding to do the opposite and ban them. Pakistan’s Senate Standing Committee on Finance spoke about the execution of legislation aimed at restricting the usage of cryptocurrencies in the country on Wednesday. Aisha Ghaus Pasha, Minister of State for Finance, informed the committee of the government’s intention to outlaw cryptocurrencies through upcoming legislation. During the meeting, Pasha stated that the State Bank and the Ministry of Information Technology have begun work to ban cryptocurrencies in the country. She also stressed that crypto currency will never be legalized in Pakistan. Sohail Jabbar, Executive Director of Digital State Bank, revealed that the crypto currency market’s worth has dropped significantly, from $2.8 trillion to $1.2 trillion. He stated that cryptocurrencies are bogus and that they will not be legalized in Pakistan. He further stated that the Federal Inves...