News Snapshot:
Bitcoin prices have fallen below $45,000. This drastic change of 8 percent can be attributed to Chinese developer Evergrande’s debt of $300 billion, according to analysts. Although there’s no direct link between the property developer and cryptocurrency, many analysts are suggesting that the troubles in China’s property market could trigger a crypto crash as it would drive risk-aversion in investors. However, others see this as an opportunity—the President of El Salvador tweeted to his followers that the country had purchased 150 more Bitcoin, and added that “buy the dip” is presidential advice. “This [El Salvador’s purchase] shows that although the...
