**China's former Vice Minister for Finance** has emphasized the importance of studying the latest **cryptocurrency policy adjustments**. He argues that these changes are **crucial** for understanding the evolving landscape of digital currencies. As China continues to navigate its stance on cryptocurrencies, the implications of these policies could significantly affect both local and global markets. Keeping abreast of these developments is essential for investors and policymakers alike.

dailycoin.com needs to review the security of your connection before proceeding.

China's Former Finance Minister Urges Urgent Review of Latest Crypto Policies

### Bitcoin Price Surge

Bitcoin's price has **jumped to an impressive $87,000**, driven by the market's optimistic outlook on potential changes in trade tariffs under former President Trump. The speculation surrounding a **softer tariff stance** has fueled excitement among investors, contributing to this significant price increase.

### Market Reactions

This surge highlights the **volatile nature** of cryptocurrencies and their sensitivity to political developments. Traders are closely monitoring any news that could influence market dynamics and investor sentiment.

### Economic Implications

The implications of these tariff discussions extend beyond Bitcoin, affecting the broader **financial landscape**. As investors react to the potential for improved trade relations, Bitcoin continues to emerge as a **safe haven asset** in uncertain economic times.

![Bitcoin Price Surge](https://www.investing.com/favicon.ico) 

This price movement is a reminder of the **inherent risks and rewards** associated with cryptocurrency investments. As always, investors are encouraged to conduct thorough research and consider market trends before making financial decisions.

Verify you are human by completing the action below.

Bitcoin Price Surges to $87k Amid Hopes for Trump’s Softer Tariff Policies

Bitcoin is currently trading within a **tight range**, consolidating below the **$85,000** mark while holding above the **$81,000** support zone. Despite the **bulls** attempting to reclaim higher levels, persistent **macroeconomic uncertainty** and growing concerns over **global trade tensions** are impacting market sentiment.

### Current Market Dynamics
The lack of momentum has kept Bitcoin range-bound. However, optimism remains among futures traders. Recent data shows that **60.52%** of traders with open positions on **Binance Futures** are holding long positions, suggesting a majority believe in an **upside breakout**.

This bullish sentiment among **leveraged traders** indicates expectations of a recovery if broader market sentiment improves. Yet, Bitcoin's consolidation pattern persists until it can decisively break above the **$85K** level, targeting **$88K** or higher.

### Potential Risks and Market Sentiment
If bulls fail to reclaim resistance soon, the risk of a breakdown below **$81K** increases, potentially triggering a deeper correction. As uncertainty dominates headlines, Bitcoin finds itself at a crossroads, with traders closely monitoring for a catalyst to drive the next major move.

### Investor Sentiment Split
After months of volatility and a sharp correction from its January all-time high, some market participants are preparing for a prolonged **bear market**. This sentiment is driven by ongoing macroeconomic uncertainty and rising concerns of recession. However, a more optimistic view remains, arguing that the current price action is a healthy correction within a larger bull cycle. Analysts point out that structural fundamentals supporting Bitcoin, such as increasing **institutional interest** and broader adoption, remain intact.

### Bitcoin Long/Short Ratio Insights
Top analyst **Ali Martinez** shared key metrics indicating that **60.52%** of traders on Binance Futures are currently leaning long, signaling bullish sentiment among futures traders. This bullish skew suggests that a potential breakout may be on the horizon. If bulls reclaim resistance levels near **$88K** and push above the **$90K** mark, it could confirm the start of a recovery rally.

### Key Resistance and Price Range
Bitcoin (BTC) is trading at **$84,200** after several days of tight consolidation between the **$87,000** resistance and the **$81,000** support level. Despite attempts to push higher, bulls have struggled to break through key resistance, leaving the price range-bound and vulnerable to sudden volatility.

Currently, BTC sits approximately **4%** below the **4-hour 200-day Moving Average (MA)** and **Exponential Moving Average (EMA)**, acting as dynamic resistance around **$87,300**. Reclaiming this zone as support could be a catalyst for a recovery rally toward the **$90,000** mark, shifting sentiment back in favor of the bulls.

However, failure to break above this technical ceiling raises concerns. If price action remains weak and fails to retake the **200 MA** and **EMA** soon, the likelihood of a drop below the **$81,000** support increases, potentially triggering fresh selling pressure and deeper corrections.

Bitcoin continues to trade within a tight range, consolidating below the $85,000 mark and holding above the $81,000 support zone. Bulls are making efforts to reclaim higher levels and spark a recovery rally, but persistent macroeconomic uncertainty and growing concerns over global trade tensions co…

Is Bitcoin Poised for a Breakout? Insights from Futures Data!

Roblox is a leading online platform for children, offering various *experiences* ranging from games to virtual spaces. While many experiences are free, players can enhance their gameplay with upgrades and random items for cash.

### What Do Kids Think?
In a **recent study**, we interviewed 22 children aged 7 to 14 (and their parents) from November 2023 to July 2024. Out of these, 18 played Roblox. We provided an **A$20 debit card** to understand their spending decisions. While some kids bought physical items, **12 children spent their money on Roblox**.

### Insights from the Interviews
Children value their Roblox purchases but express concerns about the platform's *complex transactions* and describe its random reward systems as **“child gambling”**. Many complained about feeling **misled** and referred to the platform’s refund policy as inflexible.

### What is Roblox?
Launched in 2006, Roblox is marketed as *the ultimate virtual universe*, boasting **380 million monthly active users** globally, with about **42%** under 13. A study found Australian players aged 4 to 18 spent an average of **137 minutes a day** on Roblox.

### The Financial Side
Roblox generates much of its **US$3.6 billion** revenue from in-game microtransactions, particularly for its virtual currency, **Robux**. Although Roblox is free to play, players can buy various in-game items and access passes, often through random lootboxes.

### Random Rewards and Gambling Concerns
Many popular games on Roblox, like *Adopt Me!* and *Blox Fruits*, feature random rewards where players can buy items of varying rarity. One child noted, playing these games feels like **“literally just child gambling.”** This randomization can lead to disappointment among children, impacting family dynamics.

### Virtual Currency Confusion
Roblox uses virtual currencies that must be bought with real money. For example, **A$8.49** buys **400 Robux**, which can then be converted into game-specific currencies. Some children navigate these conversions well, while others find them **“scary”** and confusing.

### Current Protections Are Insufficient
Despite the benefits of digital games for children's social and educational development, the monetization practices raise significant concerns about their **financial and emotional** impacts. Our research suggests that while monetized features should not be banned, *random reward mechanics* and virtual currencies are inappropriate for children’s games.

### Call for Better Regulations
Countries have struggled to regulate lootboxes effectively, and current Australian laws regarding these practices are inadequate. Parents feel overwhelmed by the complexities of these games and are anxious about the monetization of their children. A new approach that prioritizes *safety by design* is necessary for digital service providers.



Kids who play Roblox games describe ‘scary’ virtual currencies and ‘cash grab’ random rewards.

Are Roblox's Microtransactions Just Child Gambling? Kids Weigh In!

![Cryptocurrency : Illustration](https://specials-images.forbesimg.com/imageserve/61b230cc5537d43fbfa8bb3c/Cryptocurrency---Illustration/960x0.jpg?fit=scale)

Wise minds in any presidential administration would quickly sell every barrel of oil stored in the **Strategic Petroleum Reserve**. Why stockpile a **global commodity** that is always and everywhere accessible at a globally arrived market price?

If the reasoning is based on historical embargoes, it’s flawed. The 1970s oil embargo did not prevent oil from reaching the U.S. – it was merely symbolic. The same logic applies to **cryptocurrencies**. Why would any government stockpile digital assets that are globally available at market prices?

While a strategic petroleum reserve may disrupt basic economics, at least oil represents real wealth. **Digital money**, on the other hand, is just an effect of wealth and not a source of it. Why hoard something that is readily available online?

The **Trump administration** is reportedly considering a **Strategic Bitcoin Reserve** and **Digital Assets Stockpile**. But what is the strategy behind this? What benefit would it provide in an emergency? Unlike tangible assets such as dollars or gold, digital coins lack physicality. 

Supporters might argue that this reserve is an **investment opportunity**, noting Bitcoin's limited supply of 21 million coins. However, ignoring Bitcoin's historical volatility and the impracticality of government investment in cryptocurrencies raises questions about the wisdom of such a reserve. 

Regardless of whether the value of a digital asset rises or falls, the concept of a strategic reserve highlights the **limitations of cryptocurrencies** as mediums of exchange. Money is fundamentally an effect of wealth, facilitating transactions among producers of value. 

The idea of a digital reserve implies an expectation that the value of these coins will continually rise. If this is true, it benefits private holders of digital wallets but could be detrimental for those who don't. 

Volatile assets cannot effectively serve as money. Therefore, the best outcome for proponents of a digital reserve is skyrocketing prices that only reinforce the notion that these coins are not true money. This raises the question: what is the value of government involvement in such speculative assets?

Money is an effect of wealth. Nothing else. 

Why a Strategic Bitcoin Reserve is a Misguided Concept: Understanding Money and Value

## Understanding Bitcoin Derangement Syndrome

The following article, authored by **Guy Malone**, originally published on February 27 on the Bitcoin News Inc. website, explores the phenomenon of Bitcoin Derangement Syndrome, a term that captures the irrational criticism directed at Bitcoin and its investors. This reprint is modified for our readers, omitting embedded videos and graphics.

### The Critics: Peter Schiff and Dave Ramsey

In the previous week's analysis, we scrutinized the claims of **Peter Schiff**, an ardent gold advocate who disparages Bitcoin at every opportunity while touting gold as a far superior asset. Schiff, who founded **Schiff Gold** in 2010, seems to have overlooked the emergence of Bitcoin in 2009. 

Joining Schiff in our “**Decade of Bad Bitcoin Takes**” club is **Dave Ramsey**, a well-known radio host and author of the bestselling book **Financial Peace**. Ramsey has spent over a decade publicly mocking Bitcoin, branding it as a "scam" and labeling its investors as "stupid". He has even gone so far as to compare Bitcoin to the failed Iraqi dinar, claiming it can turn a million dollars into nothing.

### Misleading Information and Fear-Mongering

In a November 2023 video, Ramsey spread misinformation about Bitcoin, creating **FUD** (Fear, Uncertainty, and Doubt) among his listeners. He inaccurately suggested that the Bitcoin network could be easily dismantled, a claim that is countered by facts presented in a **January 2024 study** by **Cathie Wood**, CEO of **ARK Invest**, which states that Bitcoin is supported by the largest computer network in the world.

Despite being misinformed, Ramsey continues to scorn Bitcoin investors, suggesting they are foolish for investing in such a volatile asset. On the day of his video, Bitcoin was trading at **$37,500**, and those who ignored his warnings did not lose money.

### The Willful Ignorance of Critics

Ramsey’s refusal to engage with factual information about Bitcoin suggests a persistent **willful ignorance**. He has admitted to being “sadly ignorant” about the cryptocurrency world, despite opportunities to learn about it since its inception. 

### The Debate on Bitcoin's Value

Peter Schiff continues to dismiss Bitcoin as having no intrinsic value, a claim that has been challenged in debates with proponents of Bitcoin, such as **Natalie Brunell** and **Anthony Pompliano**. They argue that Bitcoin is not merely speculative but is being used in real transactions, highlighting its ability to transfer value across borders swiftly.

### The Challenge of Belief Perseverance

The article posits that figures like Schiff, Krugman, and Ramsey exemplify **belief perseverance**, maintaining their views on Bitcoin despite overwhelming evidence to the contrary. If you’ve encountered any of these individuals, you might have been exposed to a form of **Bitcoin Derangement Syndrome**. 

*Guy Malone is a certified Bitcoin professional and has contributed to various publications. For future columns, reader input is encouraged.*

The following, authored by Guy Malone, was originally published Feb. 27 on the Bitcoin News Inc. website and is reprinted by permission for Daily Record readers in two parts; the

Exposed to Bitcoin Derangement Syndrome? The Truth Behind Popular Criticism

Most of the last trading week featured **stagnant price action** in the Bitcoin (BTC) market, which is undergoing a **sustained consolidation**. After a breakout on March 20 that reclaimed the **$87,000 price zone**, selling pressure quickly pushed the price back below **$84,700**, resulting in a return to sideways movement. However, Bitcoin's price action has recently formed a **bullish pattern** indicating a potential **substantial price breakout**.

**Bitcoin Falling Wedge Signals Another Major Rally – How High Can BTC Fly?**  
In a recent post on X, market analyst **Mister Crypto** shared bullish insights based on a **continuation chart pattern** and historical price data. The analysis suggests that Bitcoin is forming a **falling wedge**, a well-known bullish pattern in technical analysis characterized by two converging trend lines. This pattern indicates that **bearish momentum is weakening**, and a breakout could lead Bitcoin into a sustained **uptrend**.

![Bitcoin](https://s3.tradingview.com/news/image/newsbtc:7111df35a094b-5da0ef3604e427c60712545c647779da-resized.jpeg)  
Interestingly, Mister Crypto highlights that Bitcoin has historically seen significant price rallies following previous formations of a falling wedge. In the past two years, there have been **three distinct cases** where Bitcoin surged for an average of **54 days**, yielding an average gain of **67.5%**. Based on previous patterns, a confirmed breakout from the current falling wedge could see Bitcoin rise by an estimated **77%**, suggesting a strong **bullish market** for the majority of **Q2 2025**.

**Investors Move 10,000 BTC As Market Confidence Rises**  
In other news, renowned market analyst **Ali Martinez** reports a notable increase in Bitcoin exchange outflows despite current market uncertainty. Data from **CryptoQuant** shows that investors have transferred **10,000 BTC**, valued at **$842.9 million**, from exchanges to personal decentralized wallets. This trend is a strong bullish indicator, reflecting **growing market confidence** as investors choose to hold rather than sell.

Currently, Bitcoin is trading at **$84,309**, reflecting a **0.14% loss** in the past 24 hours and a **0.39% decline** over the past week as consolidation continues. BTC needs to decisively break above **$84,700** to confirm a potential uptrend, with immediate resistance levels at **$86,800** and **$90,774**.

Most of the last trading week presented another stale price action in the Bitcoin (BTC) market undergoing a sustained consolidation. While the premier cryptocurrency recorded a price breakout on March 20 to reclaim the $87,000 price zone, selling pressure soon forced a return to below $84,700, resu…

China's Former Finance Minister Urges Urgent Review of Latest Crypto Policies

Summary:

China's former Vice Minister for Finance stresses the need for urgent review of crypto policies.

Recent policy adjustments could have significant implications for the global cryptocurrency market.

Understanding these changes is essential for investors and policymakers.

Comments

Join Our Community

BitcoinToday.app

Other Latest News

Bitcoin Price Surges to $87k Amid Hopes for Trump’s Softer Tariff Policies

Is Bitcoin Poised for a Breakout? Insights from Futures Data!

Are Roblox's Microtransactions Just Child Gambling? Kids Weigh In!

Why a Strategic Bitcoin Reserve is a Misguided Concept: Understanding Money and Value

Exposed to Bitcoin Derangement Syndrome? The Truth Behind Popular Criticism

Is Bitcoin Set for a Massive Rally? Discover the Bullish Patterns Emerging!

Other Latest News

Bitcoin Price Surges to $87k Amid Hopes for Trump’s Softer Tariff Policies

Is Bitcoin Poised for a Breakout? Insights from Futures Data!

Are Roblox's Microtransactions Just Child Gambling? Kids Weigh In!

Why a Strategic Bitcoin Reserve is a Misguided Concept: Understanding Money and Value

Exposed to Bitcoin Derangement Syndrome? The Truth Behind Popular Criticism

Is Bitcoin Set for a Massive Rally? Discover the Bullish Patterns Emerging!