In a new news episode of Bitcoin, Fiat & Rock’n’Roll, Jonas Groß, Michael Blaschke and Sarah Palurovic take a close look at the current crypto crash. In the last few weeks, crypto assets such as Bitcoin and Ether in particular have suffered a lot in a very weak overall market. Bitcoin has dipped below the $20,000 mark at times – a fall of more than 65% from its all-time high. What are the reasons for the sharp price drop in the crypto market? What role does inflation and the European Central Bank play? Is another price drop imminent? Are we headed for a longer-lasting crypto winter? We explore all of this in this episode’s deep dive.
What else can you expect from the episode? Among other things, the following topics:
- Central Bank Digital Currency (CBDC) in China: In China, its own CBDC e-CNY was used to make aid payments in response to the Covid crisis. In the episode you can find out why CBDCs can be an efficient means of payment for support payments and how this news is to be classified.
- PayPal now also allows payments to your own wallets: Since November 2021, customers have been able to purchase and send cryptocurrencies via PayPal. Now it is also possible in the USA to have these cryptos paid out to your own wallets outside of the PayPal ecosystem.
- Ethereum is getting closer to moving to Proof-of-Stake (PoS): On June 8th, Ethereum’s Ropsten network was switched to PoS and successfully merged with the PoS beacon chain: an important milestone. The entire Ethereum conversion process could be completed as early as August.
- Federal Ministry of Finance (BMF) sends positive crypto signal: In a letter, the BMF publicly opposed and criticized the reporting deadlines required by the EU Parliament for self-hosted wallets. What is behind it? We tell you!
Enjoy listening to this news episode!
In the video: News: Crypto crashes – is a crypto winter imminent?
Also interesting: How problematic is the energy consumption of Bitcoin really?
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