Cryptos in Action

2 min read | November 15, 2021 03:07 PM AEDT | By Daniel Paul Johns

Google News:

Cryptos in Action — Image source: © Mindlesschef | Megapixl.com

Recent News

Why Are Lynas Rare Earths (ASX:LYC), Paladin Energy (ASX:PDN) and Elev...

Why Did Coles (ASX:COL) Rise While Mining Stocks Dragged the ASX Lower...

Why Did AMP (ASX:AMP) Lead the ASX 200's Top Performers Today?

Why Are Lynas Rare Earths (ASX:LYC), Paladin Energy (ASX:PDN) and Elev...

Make Kalkine Media
My Trusted Source

Highlights

Bitcoin received a major upgrade over the weekend rolling out the long-awaited taproot code on Sunday

Indonesia has banned cryptocurrency for 88 per cent of the population

Ethereum is priced at US$4,595 after recently posting an all-time high close to US$4,850

Bitcoin Upgrade

Bitcoin received a major upgrade over the weekend rolling out the long-awaited taproot code on Sunday.

Will Bitcoin Taproot Upgrade trigger another price rally?

The upgrade boosts security and privacy for the world’s number one cryptocurrency by making its transaction signatures look like any other exchange.

The upgrade will allow the crypto to handle larger transactions and help accommodate newcomers to the Bitcoin blockchain.

Bitcoin is currently settled at US$64,500.

Indonesia Declares Crypto as Anti-Islam

Indonesia has banned cryptocurrency for 88 per cent of the population.

On Friday, the National Ulema Council, Indonesia’s religious council identified crypto as “haram”, meaning it’s forbidden under sharia law.

The ruling mainly pertains to the massive rises and falls commonly found in crypto markers, equating it to wagering – a practice deemed a sin under Islamic law.

However, Asrorun Niam Sholeh, head of religious decrees, offered a caveat, saying if crypto can offer a clear benefit to society, then it can be traded.

Furthermore, the remaining 12 percent of Indonesia’s population, which are not Muslim are free to participate in crypto trading and investing.

Altcoin News

In altcoin news, many signs are suggesting that altcoin season is well on its way. Altcoin season is an extended period where the top Altcoins outperform Bitcoin.

The most important of the early signs has been Ethereum’s price rally. Ethereum is well-known for being a catalyst for an incoming alt season. Currently, Ethereum is priced at US$4,595 after recently posting an all-time high close to US$4,850.

With Solana also reaching an all-time high last week, many are pointing to this as a sign that the market is heading to an altcoin season.

Winners and Losers

winners and losers in cryptocurrency

Source: Coinmarketcap.com, based on top 100 cryptos.

Image Source @ 2021 Kalkine Media

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.