One of the most interesting elements of the crypto market is, without a doubt, the speed with which the facts change. This crypto week started with a Bitcoin breaking its all-time high and ended with a major pullback, what else happened? We tell you the most outstanding crypto news!
Most outstanding news of the crypto market
Once again at CriptoTendencia we want you to have at your disposal the most outstanding news of the crypto market to start a new week with all the necessary information. What happened?
Bitcoin was intimidated by the all-time high
We started this week on November 30, the day on which we saw how Bitcoin managed to recover around USD 19,000 after having reached a low of USD 16,300. Just that day we reported in CryptoTrend that PlanB that this week there was a new round of buying.
A few hours later, that same Monday, Bitcoin managed to surpass its all-time high of $ 19,800 and the crypto market was flooded with excitement. Still, the happiness didn’t last long.
On December 1, we saw a major correction in the price of Bitcoin, and since then, the leading crypto has fluctuated in a band between $ 19,100 and $ 18,900, roughly.
However, it seems that the bull run has not stopped. Certainly the crypto leader has had a fairly slow couple of days where it has given setbacks and has recovered. However, it could just be a momentary stagnation.
Even so, it is relevant to start the week with caution because the crypto market has once again demonstrated its volatility.
Bets on the leading crypto continue
Contrary to what many might think, this week, despite Bitcoin’s stagnation, there were significant bets.
In this case it was MicroStrategy that, according to SEC documents, bought Bitcoin with $ 50 billion. The CEO of the company himself, Michael Saylor, confirmed the acquisition of what would be his third round of Bitcoins.
According to Saylor, the company acquired 2,574 Bitcoin with $ 50 billion. Therefore, MicroStrategy now owns approximately 40,824 Bitcoins.
ETH 2.0 update phase 0 finally live
On December 1, phase 0 of Ethereum 2.0, or ETH 2.0, was launched, and the main crypto exchanges rushed to offer Staking services.
Specifically, Coinbase reported its plans to support Ethereum 2.0 Staking rewards starting in early 2021. While Binance announced that, from December 2 to December 16, its users will be able to participate in crypto staking. .
Also, on Friday Etherscan reported that the total deposit in the Ethereum 2.0 participation contract has risen above 1 million ETH.
Comments regarding the leading crypto
The movement of the price of the crypto leader generated a topic of conversation in the community. Obviously it is relevant to follow closely what is being discussed.
On December 1, Samson Mow once insisted on what he considers to be the true utility of Bitcoin. According to Mow, the leading crypto «It is more than a store of value and a means of transferring wealth», is a shift in the financial paradigm.
Later, Larry Fink, CEO of BlackRock assured that the growing popularity of Bitcoin is having a “Real impact” on the status of the US dollar as a reserve asset».
In fact, Scott Melker also mentioned the significant rise in popularity of Bitcoin. Specifically, Melker explained that even Bitcoin haters are starting to join the crypto world.
S&P Dow Jones Indices to Launch Crypto Index
And last but not least, this week S&P Global Inc’s division, S&P Dow Jones Indices, reported that it will be launching a cryptocurrency index in 2021, allowing crypto to enter Wall Street.
The S&P Dow Jones Indices apparently sees the time as the right time to bet on crypto as digital currencies become a rapidly emerging asset class.
So we close a week in the most important crypto news in the market, what will the second week of December bring us?