Donald Trump, recently confirmed that five cryptocurrencies will be included in the country's strategic crypto reserve program. The cryptocurrencies mentioned are Bitcoin, Ether, XRP, SOL, and ADA. The assets' market capitalization increased exponentially following the confirmation. Trump takes credit for this as part of an executive order he signed in January with the aim of establishing a reserve of the cryptocurrencies. Bitcoin and Ether prices are risen by 8% and 8.3% respectively, as per news. Experts opine that these appreciations of assets are also caused by central bank action or fresh regulation, and at this juncture, it is indefinite as to how and where these reserves will be established.
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A Chinese programmer named "Perfecttatao" burned around $7 million worth of Ethereumβa huge amount of moneyβto raise awareness about a critical issue he calls "brain-computer weapons." According to him, these advanced technologies are capable of controlling human minds and pose a major threat to humanity. Through this act, Perfecttatao wanted to alert people and spark discussions about this sensitive topic. He clarified that he has no personal gain from this move and that his only intention was to draw public attention to the dangers of such technologies. He emphasized that transparency around technological advancements and public awareness are key to preventing their misuse. His bold action shows that some issues are important enough to spend significant resources just to awaken others to their potential risks.
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Panic selling refers to the sudden emotional-selling activity performed by investors in their respective assets due to fear of further declines in prices. In such scenarios, people sell without giving much thought to the act, principally to cut their losses. Such sales typically heighten the falls even further.π¬ Today, due to some economic concerns and other technical issues, there is panic selling going around in the crypto market. This drove the price of Bitcoin and Ethereum down. This type of behavior, along with hurried or shallow analysis, may give long-term investors an avenue to buy, but it keeps the market unstable.π
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