“One of the biggest misconceptions about cryptocurrency is that it’s anonymous and untraceable. In fact, it operates on public, immutable blockchain ledgers, making it more transparent than most other forms of value transfer. This, coupled with the rapidly changing financial landscape for law enforcement and businesses and the development of digital tracking capabilities, means cryptocurrency is fast becoming a critical tool in the fight against crime,” says Grigg.
As the year concludes, bitcoin is currently trading at around US$50,000 apiece, far from the predicted US$100,000 end-of-year price based on the stock-to-flow model. This is amid anticipation from traders and investors on various social media platforms who were hoping for a holiday bull run.
Meanwhile, the second-largest cryptocurrency by market capitalisation, Ethereum, is currently trading at about US$4,000, up 451% YTD and down 16.5% from its all-time high of US$4,878.26 recorded Nov 10.
See also: The Trump family is going all-in on crypto projects, from Bitcoin mining to stablecoins
Photo: Jasmine Technology Solution
