Cryptocurrency News by Bitcoin Romania, December 2021

Wed | 08.12.2021

FX & Currency

In this cryptocurrency era, things are moving faster than ever, so you'd better keep one eye constantly on the market changes. Find out what are the top performance leaders in the past 5 days.

BITCOIN DROPS $9K IN AN HOUR ON SPOT MARKET SELLING; EL SALVADOR AGAIN BUYS THE DIP

The price of bitcoin plummeted early Saturday, falling nearly $10,000 in roughly an hour to a temporary low of $42,000 before bouncing up to $45,000.

Bitcoin has fallen some $15,000 over the past 24 hours. Ether, the second-largest cryptocurrency by market capitalization, fell around $1,100 over the same time period.

The leading cryptocurrency reflected a broader drop in crypto markets, according to CoinDesk’s price index, with some cryptocurrencies falling more than 20% over the past 24 hours. Most of these assets appear to have suffered a sharp decline starting around 04:00 UTC Saturday.

According to CoinGecko, the overall market cap is currently hovering around $2 trillion.

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BITCOIN AND ETHEREUM PRICE PREDICTIONS FOR 2022

The past year has been another great year for the cryptoasset market, with bitcoin (BTC) having almost doubled in price year-to-date, and the total crypto market capitalization increasing from just over USD 750bn to almost USD 3trn.

For bitcoin’s part, the price gains this year were fueled by major developments like El Salvador becoming the first country to make the cryptocurrency legal tender, and electric car maker Tesla becoming the biggest company so far to add bitcoin to its balance sheet.

Similarly, ethereum (ETH) also saw major bullish developments this year, with the implementation of the EIP-1559 upgrade which for the first time introduced a supply-reducing token burn mechanism, arguably being the most important one.

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CRYPTO EXCHANGES IN 2022: MORE SERVICES, MORE COMPLIANCE, AND COMPETITION

  • Exchanges expect to widen their offerings next year for both institutional and retail clients.
  • The rise of PoS cryptoassets comes with the potential to add new services.
  • DeFi-based services might also gain more traction, since they offer the potential for higher returns.
  • We’re likely to see more exchanges list Web 3.0-related tokens.
  • Exchanges disinterested in compliance may find themselves increasingly isolated.

 

For many people, exchanges are pretty much the core of the crypto market and industry. They facilitate the all-important trades in the world’s virtual currencies, and by doing so, they reveal which are likely to become the biggest in the future.

As such, it’s always instructive to learn what crypto exchanges have lined up for the coming months and years, if only to gain an early insight into what crypto will sooner or later look like. And according to exchanges speaking with Cryptonews.com, the world’s trading platforms plan to roll out a range of new services in 2022, from staking and DeFi to NFTs and derivatives.

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PAYING WITH BITCOIN: THESE ARE THE MAJOR COMPANIES THAT ACCEPT CRYPTO AS PAYMENT

Cryptocurrencies are never far from the headlines these days. If it’s not news that the value of Bitcoin has reached a record high of $60,000 (€50,500) for the first time, it’s news that Tesla founder Elon Musk is investing billions in it.

While buying and selling cryptos is becoming increasingly mainstream, the opportunities to spend virtual currencies are somewhat limited in comparison due to its volatility.

There are, however, a growing number of companies across a plethora of industries - from big tech to airlines - who are embracing cryptocurrencies, allowing customers to use them as an official method of payment for their goods and services.

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BITCOIN BAN: THESE ARE THE COUNTRIES WHERE CRYPTO IS RESTRICTED OR ILLEGAL

Bitcoin has been controversial since its beginning in 2009, as have the subsequent cryptocurrencies that followed in its wake.

While widely criticised for its volatility, its use in nefarious transactions and for the exorbitant use of electricity to mine it, Bitcoin is being seen by some, particularly in the developing world, as a safe harbour during economic storms.

But as more people turn to cryptos as either an investment or a lifeline, these issues have manifested in an array of restrictions on their usage.

The legal status of Bitcoin and other altcoins (alternative coins to Bitcoin) varies substantially from country to country, while in some, the relationship remains to be properly defined or is constantly changing.

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MAJORITY OF EUROPEANS WANT THEIR COUNTRIES TO REGULATE CRYPTO, NOT THE EU - EXCLUSIVE EURONEWS POLL

A majority of Europeans want their own governments to regulate cryptocurrency while a growing number would also support the creation of national digital currencies in order to assert some monetary independence from the European Union, a landmark poll for Euronews has found.

It also found that the majority of respondents in each country would rather their own government determine financial regulations, compared to roughly a quarter overall who favoured the EU to make these decisions.

The large-scale poll carried out exclusively for Euronews by Redfield & Wilton Strategies is the most extensive of its kind conducted in Europe on the topic of cryptocurrency and financial regulation.

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This article is provided by our Cryptocurrency Partner, Bitcoin Romania

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