The Bitcoin Rollercoaster: Buckle Up!
It’s been a wild week in the land of Bitcoin, and let’s just say the hodlers are feeling pretty spiffy right now. With prices cruising comfortably over $17,000 and even peaking at $19,000, excitement is palpable. If you haven’t noticed, it seems the universe (and Wall Street) has deemed that Bitcoin deserves a front-page mention!
Why All the Buzz?
Alongside Bitcoin’s glitz and glamour, we’ve got players like PayPal stepping into the crypto arena. Since launching their services, PayPal has claimed a whopping 70% of fresh Bitcoin! Now, if you add Square’s Cash App to the mix, it looks like more than 100% of newly minted Bitcoins are getting funneled into these payment giants. Talk about overlap! Meanwhile, platforms like Coinbase are experiencing outages due to skyrocketing demand, which begs the question: Are we in a bubble or a boom?
Where to Next?
Now, here’s a spicy prediction based on the whispers and charts from the past: Bitcoin could touch the celestial heights of $160,000 with a cautionary bottom of $25,000. But, hold your horses! If there’s one thing history teaches us, it’s that the government loves to swoop in and play party pooper. The US Federal Reserve is eyeing proposals to tighten reigns on international digital currency transactions. Just when you thought you could breathe easy…
Regulatory Rumbles
Enter Janet Yellen, whom President-elect Biden has deemed worthy to lead the Treasury. Yellen’s view on Bitcoin? “Anything but useful.” Ouch! On the flip side, Andrew Yang has emerged as a potential Secretary of Commerce, suggesting a possible ally for crypto. Who needs enemies when you have regulatory chaos brewing behind the scenes?
It’s Not Just Bitcoin
Bitcoin may be hogging the spotlight, but it’s not alone in this crypto extravaganza. Ethereum is beaming as it gears up for ETH 2.0 with 25,000 ETH being sent its way. Genesis Day is marked for December 1—mark those calendars! And let’s not forget about XRP—this coin took a sudden leap, leaving many scratching their heads as to why. If there was ever a reminder of the need for clear communication in the crypto space, this is it!
Crypto Roundup: News and Happenings
The crypto world is buzzing with excitement and engagement. CNBC is in on the action with Crypto Banter, the first-ever 24/7 live call-in show for all things crypto. What better way to gather credible insights than a live chat? Meanwhile, motor racing fans can now sink their teeth into Formula 1-themed NFTs using REVV from November 30. And for those who cheer a more tranquil ride, the Bad Crypto Podcast is collaborating with the DIVI Project to help children in South Africa secure bikes. So far, they’ve raised enough to buy 77 bikes, delivering 30 already!
