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Bitcoin Lost $ 900 Per Hour: Global Market Capitalization Lost $ 35 Billion
Bitcoin suffered a notable crash, losing about $ 900 per hour.
On December 8, 2020 at 6 a.m. UTC, BTC plummeted from $ 19,299 to $ 18,798 in just 3 hours, with a low of $ 18,680. BTC was unable to recover from the fallout for the rest of the day, although it did manage to stay stable for the next hours.
But the bears barely rested, and at 10:00 p.m. UTC delivered the final blow, dropping the price from $ 18,771 to $ 18,340 in less than an hour. The next two hours brought the price down to $ 18,138. After that, the price corrected slightly.
Utopia Announces Launching Revolutionary P2P Decentralized Ecosystem with Embedded Crypton
Utopia p2p releases CRP on crypto exchanges
Utopia announces the launch of its revolutionary decentralized platform for secure and encrypted communication, anonymous transactions in embedded Crypton cryptocurrency, decentralized file transfer and storage, private browsing, website hosting and other options.
Utopia is a free, anonymous and uncensored product designed for secure communication, anonymous payments and truly free internet without borders.
Utopia’s P2P software consists of a large number of built-in applications for everyday use on a single platform: uMessenger for instant encrypted text and voice messaging, file transfer and storage, group chats and channels, news feeds and private conversations.
Utopia ecosystem encryption ensures the security of mail transmission and storage. Your uMail, like the inside of Utopia, cannot be blocked or taken away.
Utopia p2p releases CRP on crypto exchanges
Ethereum drops to $ 550, why more flaws seem likely
Ethereum started to fall heavily after failing to surpass $ 600 against the US dollar.
After many setbacks, Bitcoin and Ethereum fell below the $ 19,000 and $ 585 support levels. ETH price gained bearish momentum below the $ 580 level and dropped well below the 100-hour simple moving average.
The bears managed to push the price below the $ 565 support level. Ether price even dropped below the support of $ 550 and traded to $ 541.
Research shows that investments are going from gold to cryptocurrency
The latest report from the CoinShares ETF suggests investors are leaving the gold markets and entering cryptoassets.
The latest report from CoinShares says the total assets under management are now at a record $ 15 billion. It has highlighted Ethereum, which has stood out over the past week, with an inflow of $ 87 million, accounting for 20% of its total inflows.
Specifically, the report compares investment flows from gold to bitcoin;
“Gold has been hit by a record $ 9.2 billion in investment product outflows in the past four weeks, while Bitcoin has had a $ 1.4 billion outflow.”
Ripple Analysis Looks Real Why It May Retest $ 0.45
Ripple broke major support at $ 0.5740 against the US dollar.
After a couple of unsuccessful attempts around $ 0.6200 and $ 0.6150, the XRP Rpple price began a strong decline. Bitcoin, ETH, BCH, ADA, LINK and many other altcoins have dropped dramatically.
XRP also followed a similar pattern and broke a couple of important supports around $ 0.5880 and $ 0.5740. There was a clear break below the 50% Fibonacci retracement level of the key upside move from the $ 0.4548 swing low to the $ 0.6919 high.
MicroStrategy Shares Down 8% After Announced Raising $ 400M Debt To Buy Bitcoins
MicroStrategy announced that it is going to raise $ 400 million in a debt securities auction.
MicroStrategy has announced that it is going to raise $ 400 million at a debt securities auction to buy more bitcoins.
These securities can be converted into cash or a combination of cash and shares of MicroStrategy Class A common stock. MicroStrategy will need to pay periodic interest on these securities.
SDX and SBI team up to organize digital asset exchange in Singapore
SIX and Japan’s SBI Group hope to launch a suite of institutional products in Singapore by 2022.
SIX Digital Exchange, the tokenization arm of Swiss finance company SIX Group, has announced a partnership with Japan’s SBI Digital Asset Holdings to develop a digital asset exchange in Singapore.
The pair hopes to launch the exchange by 2022, subject to regulatory approval from the Monetary Authority of Singapore.
According to an announcement on December 8, the proposal, which Blockchange and IRA Financial jointly launched, “allows investors to enjoy the preferential tax status of their IRA or 401 funds when they diversify into a range of cryptocurrencies.”
Stablecoin Demand Rises as USDC Supply Exceeds $ 3B and Tether Closes at $ 20B
The demand for digital dollars is growing rapidly.
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