Day: December 17, 2022

Bitcoin Backpedals To $16,000 Level As Crypto Market Sheds 6%

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In the past 24 hours, Bitcoin has slid beneath the important support level of $17,000 as weekly bears have taken the driver’s seat.  The most popular cryptocurrency is presently selling at $16,723, a decrease of 2.5% over the past week. There has been significant selling pressure on the cryptocurrency market as a whole, resulting in a 6% correction and a $50 billion loss over the past 24 hours. As a result of the latest price decline, BTC has let go of all weekly gains and returned to the red zone. TradingView…

Bitcoin Mints Over 13,000 ‘Wholecoiners’ in the Last Days 

The number of Bitcoin wallets containing one or more BTC over the past week increased by 13,091 and the total number of ‘wholecoiners’ also recorded an additional 865,254 wallets. Although Bitcoin experienced a down price action, the number of whole coiners increased drastically. Since May 10, the market price of bitcoin has plummeted. However, over the last ten days, more than 14,000 whole coiners have joined the market. In an interview, the founder of the Swedish Bitcoin exchange, Christian Ander, said, “This is good for the ecosystem that it’s growing…

Democrats to reportedly return over $1M of SBF’s funding to FTX victims

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Following the arrest of former FTX CEO Sam Bankman-Fried (SBF), three prominent Democratic groups have reportedly decided to return over $1 million to investors that lost their funds due to misappropriation. On Dec. 16, the Democratic National Committee (DNC), the Democratic Senatorial Campaign Committee (DSCC) and the Democratic Congressional Campaign Committee (DCCC) pledged to return SBF’s political donations after the entrepreneur was charged with eight counts of financial crimes. A DNC spokesperson reportedly confirmed this decision when speaking to a media outlet, the Verge: “Given the allegations around potential campaign…

Brazil Could Launch Its Defi-Integrated Digital Real in 2024 – News Bitcoin News

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Roberto Campos Neto, president of the Central Bank of Brazil, has stated that the digital real project, the Brazilian central bank digital currency (CBDC) could be launched in 2024. Campos Neto also remarked on the benefits the digital currency system might bring as it is integrated with traditional finance structures and decentralized finance (defi) institutions. Digital Real Might Be Ready in 2024, According to Roberto Campos Neto Brazil is one of the countries that has made significant advancements in the field of central bank digital currency (CBDC) in the last…

Bitcoin Recovers to $21,000, but Traders Wary of Further Rally 

Bitcoin (BTC) showed early signs of recovery as it extended its second day of gains on Tuesday, holding over the $21,000 barrier in European hours. Even though established banking firms Morgan Stanley (MS) and Goldman Sachs (GS) said in client notes that recession risks were “not fully priced in,” the spike still occurred. Morgan Stanley said in its note that “The bear market will not be over until recession arrives or the risk of one is extinguished,.” In a similar vein, Goldman analysts said stock traders were pricing in a…

Bitcoin ‘Remains in the Danger Zone’ as Cryptos Steady. Where It Could Go Next.

Despite still under pressure, Bitcoin and other cryptocurrencies were holding steadily above the lows set during a severe selloff over the previous two weeks on Monday. Over the past 24 hours, the price of Bitcoin has been hovering just above flat at $21,400. The biggest digital asset hit its lowest point this month, around $18,000, marking the lowest level since 2020. The decline of bitcoin coincided with issues in the stock market, but it was also made worse by forces specific to the world of digital assets, such as the…