Crypto market update
After a few consecutive days of struggling around $42,000, Bitcoin went on the offensive and tested breaking $44,000. Altcoins have mostly turned green today, with Ethereum rising back above $3,000. The total crypto market cap increased by around $100 billion in a day and is above $2 trillion now.
Bitcoin (BTC) is now trading at 44,275 USD up by 5% in 24h
Ethereum (ETH) is now for 3,101 USD up by 8% in 24h
PlatonCoin (PLTC) is now for 0,519 USD down by 0.1% in 24h
Total marketcap is currently at 2.08 trillion USD up by 6% in 24h
(all data from Coingecko.com)
Daily news update
Bitcoin and USD: As of Tuesday, February 15, 2022, the United States Dollar (USD) has lost up to 97.58% of its buying power relative to Bitcoin in the last five years. Thus, when comparing the value of one dollar to Bitcoin, 1 USD is now worth just 0.000023 BTC. The US dollar’s value has fallen as a consequence of the government’s continuous money printing and now $1 buys 75% less satoshis than 2 years ago.
Crypto investors and interest rates hikes: On-chain data analysis from Glassnode shows that Bitcoin (BTC) investors are hedging out risks in order to stay protected against United States Federal Reserve interest rate hikes, that are expected to take place in March.
Belarus and cryptocurrencies: Belarusian President Alexander Lukashenko has signed a decree affirming the country’s formal support of free circulation of cryptocurrencies like Bitcoin (BTC). The document provides a legal basis for Belarus Hi-Tech Park to establish and manage a register of crypto wallet addresses used in illegal activities.
Canada and protests: Canadian prime minister Justin Trudeau invoked the Emergency Act, for the first time since the Act was introduced in 1988, to respond to the ongoing anti-government trucker protests. After GoFundMe announced it would not be issuing the remaining $9 million to the Freedom Convoy 2022 campaign, protestors, with no access to the funds, had chosen instead to utilize Bitcoin as a means of raising money.