Bitcoin (BTC)Crypto News

Fed leaves rates unchanged, but global markets and bitcoin slide: this week’s crypto recap

                                                            Es sind wieder sieben Tage vergangen und sie waren leider nicht besser als in der Woche zuvor.  Traditionelle und Cryptowährungsmärkte brechen ein, obwohl die US-Notenbank die Zinsen unverändert lässt und die Schuldenobergrenze des Landes um 2,5 Billionen US-Dollar erhöht.

Bitcoin went wild last weekend when the price topped $ 50,000 on Sunday. This has brought some relief to the community and also raised hope that it is time for a recovery rally. But bears had wills of their own, and as soon as they intervened, everything turned red. On Monday, BTC crashed to $ 46,000.

However, on December 14th and 15th, the US Federal Reserve held a meeting and Congress voted to raise the country’s debt ceiling again while interest rates remained unchanged. This initially had a positive impact on the price of Bitcoin, which rebounded towards $ 50,000. Everything ended abruptly, however, because not long after that it went Cryptocurrency south again. At press time, BTC is trading at around $ 46,500, down 2.4% over the past seven days. Global markets have also slumped in the past five days as the Nasdaq Compositeindex is down 2.5% while the S & 500 is down 1.2%.

The altcoin market is also deep in the red. Bitcoin fared better than many altcoins. Ethereum decreased by 7.6%, BNB decreased by 8.4%, SOL – 2.5%, XRP -7.5%, DOT -7.1% and so on. Avalanche is the best performer as AVAX is up a whopping 28.4% in the past week.

It remains interesting to see how the market will perform in the days ahead as we enter the historically bullish season of the Christmas holidays for BTC.

Market data

Market capitalization: $ 2.273 billion | 24H Vol: 120B | BTC dominance: 38.6%

Bitcoin: $ 46,490 (-2.4%) | ETH: $ 3,846 (-7.6%) | ADA: $ 1.23 (-5.1%)

ConsenSys is working with Mastercard to launch rollups for EVM blockchains. ConesnSys – one of the leading companies in the field Blockchain-Technologie – has launched ConsenSys Rollups – a cooperation with the payment processing giant MasterCard. The solution aims to provide scalability and data protection for blockchains using the Ethereum Virtual Machine (EVM).

Billionaire Ray Dalio says Bitcoin is the alternative to gold for younger generations. Ray Dalio, the Bitcoin was quite skeptical in the past, has changed his tone significantly. He recently stated that cryptocurrency is an alternative to gold for younger generations. He also said that it may not have intrinsic value, but it has imputed value and value.

US Congress votes to raise the debt ceiling by $ 2.5 trillion, what does that mean for Bitcoin? The US has raised its debt ceiling again, which is not surprising as it has not failed to do so on every occasion in history. However, we take a closer look at what this could mean for Bitcoin and the cryptocurrency market in general.

Bitcoin below $ 40,000 per purchase, US dollar goes to zero, says Kraken CEO Jesse Powell. According to Kraken CEO Jesse Powell, Bitcoin is a buying opportunity under $ 40,000. He also hit the US dollar, saying it is going to drop to zero in value. It does so in the midst of a wider market pullback with BTC battling below $ 50,000.

Circle’s USDC goes live avalanche about that DeFiStrengthen ecosystem. Circles USDC – the second largest Stablecoin on the market – went on Avalanche’s blockchain. The main purpose of the move is to allow developers and communities to keep exploring green platforms and accelerate the DeFi rollout appropriately.

Elon Musk argues that Dogecoin is better suited for payments than Bitcoin. Elon Musk was named Person of the Year by TIME Magazine. During his interview, he argued that Dogecoin was better for payments than Bitcoin, citing higher and cheaper transaction throughput as the main reasons.

Diagrams

This week we have a chart analysis of Ethereum, Ripple, Cardano, Polkadot and Polygon – click here for the full price analysis.

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Source: Crypto News Deutsch

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