The movements of the price of Bitcoin and the interest that the cryptocurrency has aroused among institutional investors have been part of the highlighted information. Despite the fact that since Monday, January 11, BTC lost the momentum that had led it to exceed USD 40,000 during the first week of this 2021, the volatility of the currency does not seem to affect investments.
In these seven days the cryptocurrency lost on average 5.8% of its value. At the time of writing this article, BTC is trading at USD 36,176, as reflected in the market price of Latin America and Spain, according to the CriptoNoticias price calculator.
With CriptoNoticias, those interested can keep up to date on the changes in the market prices of bitcoin, ether, bitcoin cash and litecoin, in relation to their local currency. To do this, they can visit the BTC and ETH Prices section, which has a calculator to make conversions quickly and easily to their national currency.
These are the most outstanding news:
Analysts at Coin Metrics find solid fundamentals to indicate that bitcoin (BTC), Ethereum (ETH) and other crypto assets will maintain a good growth rate during 2021, despite the price drop this week. Among the positive signs indicate that while the price seemed to be plummeting, it exceeded the all-time high of the Bitcoin network, both in processing power and in mining difficulty. CoinShares Chief Strategy Officer Meltem Demirors agrees with the optimistic stance. He said in an interview that although volatility and cyclical movements are expected, the trend will continue to rise this year. “Simply because there is not enough bitcoin to meet the massive demand.” Amid the interest generated by the growth of bitcoin, several personalities have spoken for or against. Argentine analyst and lawyer Carlos Maslatón predicts a fall in fiat currencies if BTC is priced in millions of dollars. He foresees that in a few weeks the cryptocurrency will exceed $ 50,000, reaching 90,000 by the end of the year. For his part, the mayor of Miami, Francis Suárez, admits to having met with key figures in the Bitcoin ecosystem in the United States, including the Winklevoss brothers. Plans include the opening of a Gemini office for Latin American clients. A different position was stated by the CEO of Ualá, Argentina’s virtual wallet, who sees bitcoin only as a secondary store of value. “For it to be a store of value, you have to see how regulators act in the United States, the European Union and China,” he said in a tweet. Something similar pointed out the founder of Mercado Libre, Marcos Galperin, who only sees BTC as a store of value similar to gold and doubts that it will replace fiat currencies. The rise in the price of the pioneer cryptocurrency also generated a reaction in the president of the European Central Bank (ECB), Christine Lagarde. In an interview with the . agency, he said that bitcoin is a threat whose regulation must be addressed on a global scale, otherwise it could serve as an escape valve. He further denied that it should be considered as a currency and called BTC a “highly speculative asset.” Simultaneously, the ECB closed a public consultation this week around the launch of a digital euro. Privacy in payments, security and continental reach, are the three characteristics that Europeans want the digital currency to have. This according to the results of the more than 8,000 responses received by the agency in three months. On Wednesday, January 13, the financial sandbox in Spain opened the period for receiving requests for income from projects that want to be tested, under the supervision of regulatory institutions. Bankia, together with the startup Finweg, presented a business model aimed at the business sector for which developed a blockchain-based payment platform. It would offer digitization services for checks, promissory notes, letters of credit and other payment methods. Meanwhile, the Spanish Association for Standardization (UNE) published the Standard UNE 71307-1, the world’s first standard on decentralized digital identity management, based on blockchain. The document establishes a generic framework for individuals or organizations to issue, manage, and make use of their own digital identity. On January 13, cryptocurrency investment management firm Grayscale began the process to dissolve its XRP fund, Ripple Labs’ cryptocurrency. He believes that it will be increasingly difficult for US investors to convert XRP into US dollars. All this due to the lawsuit filed in December by the Securities and Exchange Commission (SEC) against Ripple. The negative effects of the litigation with the supervisory body are becoming increasingly evident in the trading and price of XRP, which this week was displaced from fourth place in top by market capitalization. On the contrary, the bitcoin fund at Grayscale is growing by leaps and bounds. The firm announced that in the last quarter of 2020, more than 3 billion dollars entered its Bitcoin Trust fund.
If you want to know the meaning of several words in the crypto world terminology, you can consult them in the extensive Glossary of CryptoNews.
Genesis block: name given to the first block created and verified in a blockchain. This block marks the birth of each cryptocurrency. The first of its kind was the Bitcoin genesis block, created in January 2009 by Satoshi Nakamoto.
Cryptotutorial of the week:
The Satoshi purse or Wallet of Satoshi, by its original name in English, is a custodial wallet from where you can interact with the Lightning Network. It is focused on simplicity and ease of use. When using a Lightning wallet, the need to configure it is often a challenge for inexperienced users. This is common, given that the Lightning network is a practically new technology and still in the testing phase.
As such, wallets like Wallet of Satoshi free users from the technical details of setup and offer a just install and go experience. We show you how to do it in this tutorial.
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