It’s been a long time coming, but it looks like the sheriff has finally arrived to the Wild West that is the crypto market in South Africa.
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The run-up in bitcoin has revived the jargon used by investors. If you’re not sure what a debate between “hodlers” and “weak hands” means, or have forgotten, here’s a guide or refresher.
Bitcoin has topped $18 000 for the first time since just after the burst of the cryptocurrency bubble almost three years ago with many market watchers now expecting it to reach a record high soon.
Bitcoin has broken the $17 000 level for the first time since just after the burst of the cryptocurrency bubble almost three years ago.
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Three years ago, bitcoin’s historic surge dominated dinner conversations. This year, the cryptocurrency is in the midst of another notable rally and yet almost no one’s talking about it.
As bitcoin begins testing levels last seen at the peak of the end-of-2017 bubble, South Africa has yet another cryptocurrency exchange in an increasingly crowded market.
Bitcoin’s surge during US election week has pulled cryptocurrency performance further ahead of major asset classes this year.
Bitcoin is in rally mode once more. Whether it’s uncertainty from the US election, the future of the pandemic or simply more investor interest, the cryptocurrency is at the highest level since January 2018.
South African cryptocurrency traders can expect a tightening tax net in the near future, with the revenue service paying close attention to crypto activity in the country.