Bitcoin Issues of the week (Fed digital currency, Paypal Weekly Cryptocurrency Increase, Bitcoin Google Trend, etc)
1. Fed Chair Powell’s argument on setting up digital currency in the U.S.
Jerome Powell, chairman of the US Federal Reserve mentioned in a congressional hearing on 14 July that If there is a digital currency (digital dollar) in the United States, neither stablecoins nor cryptocurrencies will be needed.
Related news:
There was a slight decline on Bitcoin price after Powell’s argument and Ethereum showed a coupling trend with Bitcoin and had a price decline.
2. PayPal increases weekly cryptocurrency purchase limit fivefold to $100,000
Online payment company PayPal has raised the limit for buying cryptocurrencies on its platform by five-fold for a week. PayPal users can now buy $100,000 of bitcoin and other digital assets per week, up from a previous limit of $20,000.
Related news:
3. Bitcoin search on Google Trend
Another indicator is to see the Google trend on Bitcoin search, and this shows that searching of Bitcoin has reached the seven-month low point.
According to ‘Google Trends’, which accurately reflects the interests of netizens, in June, Bitcoin price searches scored 25 points or less out of 100. This is a significant drop from 86 two months ago when Bitcoin hit an all-time high.
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