• Saturday, 25 September 2021
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*Samdech Techo Hun Sen allows public and private colleges to reopen  *Koh Kong Province to build a national hospital on an area of 10 hectares  *King and Queen-Mother have returned to Cambodia after a health check-up in Beijing  *Within 8 months of this year, Cambodia exported dozens of tons of cassava and cassava waste to abroad markets  *Meanchey Authorities warned to implement measures on truck that overflow sand on the road  *141 of the monks and the people living in pagodas found positive with Covid-19  *Take action on people without helmets and masks  *Kim Chou Guava plantations in Saang district tastes delicious and gaining customer support  *People still have 3 days off during the upcoming Pchum Ben festival, but must adhere to implement health measures  *Outcomes Of Virtual ASEAN-U.S. Foreign Ministers’ Meeting Released 

Bitcoin Reverses its Weekend Rally to Drop Below $40,000 Level

Bitcoin Reverses its Weekend Rally to Drop Below $40,000 Level

Bitcoin retreated Monday back below $40,000 after climbing over the weekend to the highest levels since May. The largest cryptocurrency fell as much as 4.9% and was trading at $39,790 as of 11:25 a.m. in Hong Kong. Other virtual coins including second-ranked Ether also fell. Analysts suggested profit-taking lay behind the declines.

 

This is “just a normal pullback following bullish action,” said Vijay Ayyar, head of Asia Pacific with crypto exchange Luno in Singapore. The declines put Bitcoin back in the top end of a $30,000 to $40,000 trading range that’s been in place since a cryptocurrency rout in May. The token has been helped in recent weeks by supportive comments from billionaire Elon Musk and Ark Investment Management LLC’s Cathie Wood, as well as speculation over Amazon.com Inc.’s possible involvement in the cryptocurrency sector.

 

At the same time, scrutiny of the industry is intensifying. That includes a push by U.S. legislators for stricter rules on cryptocurrency investors to collect more taxes to fund a portion of a planned $550 billion investment into transportation and power systems. Crypto traders are also awaiting a software upgrade expected this week to the Ethereum network. It could boost Ether’s price by trimming the pace at which the token’s supply grows.

 

Source: yahoo/finance

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