According to Google Trends, the number of searches for “bitcoin dead” reached an all-time high over the past week (100 points out of 100 possible). The last time this query came close to a score of 100 was in December 2017. Galaxy Digital CEO Mike Novogratz believes that the recovery of the cryptocurrency market may take a long time and will depend heavily on the actions of the US Federal Reserve. In his opinion, the market growth will begin after the Fed finishes raising rates. Bitcoin’s recent drop below $20,000 has triggered a new wave of deleveraging and liquidations that has affected miners and long-term investors, Glassnode claims. SEC Commissioner Esther Pierce believes that the crypto bear market will be good for the industry and create a more stable foundation for its development. However, the number of scammers may increase during these “turbulent times”. The Swiss regulator of financial markets (FINMA) compared the fall of cryptocurrencies with the Great Depression of the late 1920s, urging governments to regulate crypto assets. The head of the ECB called for regulation of the cryptocurrency lending sector amid growing activity of crypto lending platforms, and problems with Celsius and Finblox. Tesla CEO Elon Musk said that he never urged anyone to invest in cryptocurrencies and all accusations of him promoting the “Dogecoin pyramid” are groundless. Earlier, a lawsuit was filed against him for advertising DOGE for $ 258 billion. Tether, the issuer of the largest stablecoin by capitalization USDT, announced the release of a “stable coin” GBPT pegged to the pound sterling. The Vexel platform has updated its cryptocurrency wallet and added the ability to issue a cryptocurrency card through the UnionPay payment system. The card can be replenished with cryptocurrencies and fiat, as well as withdraw money to Russian ruble bank cards and crypto wallets. Source: FXPro

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