A weekly section discussing how general events can influence the near-term future of cryptocurrency sector
Venezuelan Bolivar Falls 66% in Just One Week
The rising USD price is certainly sending shivers down the Venezuelan forex market, where its own national currency Bolivar is getting weak against the greenback. According to the recent reports, the official exchange rate between the two aforesaid currencies surged 66% last week, while in black markets, it went 64 times higher than the official rate. Tip: go trade cryptocurrency fellas (good short-term opportunities arising in Bitcoin market)
Argentinians Hit by Bank Strike, Can’t Access ATMs
Argentinians might have to rely on cryptocurrency trades after all, for the banks in their country have officially gone on strike. This decision has ultimately emptied the nation’s ATMs, leaving public without spendable cash. The strike is hopeful to go on until the union’s demand of an allowance raise is met. Until then, it is an average Argentinian who might have to hold his horses while spending cash.
PayPal Blocks Developer’s Account Upon MPAA’s Intervention
Motion Pictures Association of America (MPAA) recently asked PayPal to block the account of Andrew Sampson, the developer of a new torrent website Strike. Under legal obligations, PayPal had to block Sampson’s account that will ultimately leave him with six months of no funds. It would advisable for him to start receiving money in the form of cryptocurrency Bitcoin.
Greece Proposes Tax on Bank Transactions
In hope to generate money even from the remotest corners of its economy, Greece has now proposed to tax bank transactions. According to the available reports, the revenue deficit nation has been warned by the International Monetary Fund (IMF) to sign an agreement with its international creditors, or face a withdrawal.