The Petro Coin Will Be Used for Global Trade in Venezuela Come October

Venezuela’s president, Nicolas Maduro, just made a bold statement regarding his oil-backed cryptocurrency, the Petro Coin. The Petro Coin Maduro appeared on the national VTV channel today and delivered a speech about his country’s latest economic issues. According to VTV’s official website, Maduro said: “The Petro enters the street, as a currency of exchange, purchase and convertible currencies for the world.” However, the Venezuelan president didn’t specify the areas where the Petro will be used. Maduro also didn’t name any countries willing to accept the Petro Coin. This oil-backed cryptocurrency was…

Bitcoin Price: BTC is Bullish, are Altcoins the Reason?

Bitcoin price is on a bull-run right now. In fact, the entire crypto market seems to be making a bullish turn as sharp gains can also be seen across a number of altcoins. At the time of writing, Bitcoin is up 4.6% on the 24-hour basis and is currently trading at $6,733 according to coinmarketcap.com Earlier in the day, Bitcoin price hit its 16-day high of $6,745, but it could easily hit that high again by the looks of things. Bitcoin Price Recovery Bitcoin is recovering from a five-week low…