{"headers":{"Content-Type":"application\/x-www-form-urlencoded"},"body":"source_lang=&target_lang=DE&tag_handling=xml&split_sentences=1&preserve_formatting=1&text=Mike+Novogratz%3A+China+Bitcoin+crackdown+is+a+big+positive&text=Galaxy+Digital+CEO+Mike+Novogratz+sees+the+crackdown+on+Bitcoin+mining+and+trading+in+China+as+a+bullish+sign+for+the+overall+ecosystem.&text=The+China+crackdown+on+%3Ca+title%3D%22Crypto+Trader+Review%22+href%3D%22https%3A%2F%2Fwww.coininsider.com%2Fcrypto-trader-review%2F%22+data-replaced%3D%22true%22%3Ecryptocurrencies%3C%2Fa%3E+and+%3Ca+title%3D%22Bitcoin+Evolution%22+href%3D%22https%3A%2F%2Fwww.coininsider.com%2Fbitcoin-evolution-review%2F%22+data-replaced%3D%22true%22%3EBitcoin%3C%2Fa%3E+mining+is+not+only+not+a+bad+thing%2C+but+it%27s+a+positive+sign%2C+according+to+experts+such+as+Galaxy+Digital+CEO+Mike+Novogratz.+%3Cstrong%3EBold%3C%2Fstrong%3E%0A%0AAccording+to+a+%3Ca+href%3D%22https%3A%2F%2Fwww.bloomberg.com%2Fnews%2Fvideos%2F2021-07-01%2Fmike-novogratz-bitcoin-is-a-survivor-video%22%3EBloomberg+report%2C%3C%2Fa%3E+Novogratz+commented+that+Bitcoin%27s+movement+and+price+trajectory+and+performance+over+the+past+few+weeks+have+signified+strength+in+the+market+despite+the+crackdown.+While+there+was+a+dip+in+the+market+-+and+Bitcoin+saw+a+nearly+65%25+drop+from+its+all-time+trading+price+in+April%2C+Bitcoin+still+has+held+above+%2430%2C000+USD%2C+ranging+above+the+support+levels+in+the+last+month.%3Cstrong%3EBold%3C%2Fstrong%3E%0A%0A%3Cem%3E%22Moving+the+mining+out+of+Chinese+would+be+a+big+net+positive+for+the+ecosystem.+I+saw+this+last+three+weeks+as+an+amazing+test+-+and+an+amazing+successful+test+-+for+Bitcoin+and+the+whole+crypto+ecosystem.+We+had+a+crash.+We+didn%E2%80%99t+have+the+plunge+protection+team.+We+didn%E2%80%99t+have+lawsuits.+The+system+worked+how+it+was+supposed+to+work.+It+is+a+very+robust+system+that+has+been+built+in+a+small+amount+of+time.%22+%3Cstrong%3EBold%3C%2Fstrong%3E%3C%2Fem%3E%0A%0AThis+echoes+the+%3Ca+href%3D%22https%3A%2F%2Fwww.coininsider.com%2Fchinese-ban-is-incredibly-bullish-for-bitcoin-former-gemini-engineer%2F%22%3Eopinion%3C%2Fa%3E+of+former+Gemini+engineer+Brandon+Arvanaghi+who+sees+China%27s+crackdown+as+%22extremely+bullish%22+for+the+market.%0A%3Ch2%3EBitcoin+and+cryptocurrency+sentiment+according+to+Novogratz%3C%2Fh2%3E%0AThe+Galaxy+CEO+also+noted+that+Bitcoin+has+%22%3Cem%3Ecarved+out+its+lane%3C%2Fem%3E%22+as+the+digital+version+of+gold.+Where+gold+has+become+a+historic+icon+as+a+commodity+to+hold+value%2C+Novogratz+expects+Bitcoin+to+exist+similarly+for+the+next+3000+years+as+the+digital+gold.+%3Cstrong%3EBold%3C%2Fstrong%3E%0A%0AAdditionally%2C+he+believes+the+public+will+use+Ethereum+-+or+a+similar+competitor+blockchain+-+as+the+%22%3Cem%3Ebase+level+of+trust%3C%2Fem%3E%22+where+the+next+phase+in+the+evolution+of+the+Web+will+be+built.+%3Cstrong%3EBold%3C%2Fstrong%3E%0A%0A%E2%80%9C%3Cem%3EEthereum+most+likely+becomes+the+second+biggest%2C+or+maybe+even+the+biggest+cryptocurrency+one+day.+It%E2%80%99s+going+to+be+used+at+the+base+level+of+trust.+The+Web+3.0+where+things+get+built+on+top+of+it.%E2%80%9D%C2%A0%3C%2Fem%3E","timeout":15}