Crypto News Recap: Bitcoin Smashes All Records Reaching $24K

Published December 21st, 2020 - 07:45 GMT
Crypto News Recap: Bitcoin Smashes Though All Time High Reaching $24K
This upward trend suggests that investors are increasingly feeling positive and bullish going into 2021 doubling down their crypto investments. (Shutterstock)
Highlights
Here are the market highlights for the week.

The crypto world was on fire last week as Bitcoin continued chalking up more gains mooning to $24,000 on Saturday then retreating to $23,973 (at press time).

 

Source: coinmarketcap.com

This upward trend suggests that investors are increasingly feeling positive and bullish going into 2021 doubling down their crypto investments. Analysts say that the price shall continue climbing to $25,000 then to $30,000 on New Year's Eve.

Crypto Market Cap: 

Source: coinmarketcap.com

Similarly, most altcoins are in green.

Visa Team up with Ethereum Digital-Dollar Startup who Raised $271 Million
Visa, the multinational credit card giant, announced a new partnership with Circle Internet Financial, a digital payment processor powered by USDC (digital dollar) on the Ethereum blockchain.

Through this partnership, they aim to provide customers, freelancers, vendors, and suppliers a seamless payout experience in more than 30 countries with the Visa-certified network of USDC Partner Wallets.

Google Trends Shows Soaring in "Bitcoin" Searches
Google Trends, a barometer used to gauge general interest in trending topics, indicates that more people are interested in Bitcoin suggesting FOMO (Fear of Missing Out).

As the top cryptocurrency rallied towards $25,000, more people are using Google's Search Engine to ask questions like "Should I buy Bitcoin?" rather than "Should I sell Bitcoin", which strongly suggests that people are more bullish and interested in purchasing than selling.

Coinbase Announces Filling IPO to SEC

The Famous US-based crypto exchange, Coinbase, announced submitting IPO (Initial Public Offering) to the US Securities and Exchange Commission (SEC).

Business Insider reported that Goldman Sachs bank is leading this upcoming IPO. A traditional IPO refers to the process of offering shares of a private corporation to the public in a new stock issuance. Public share issuance allows a company to raise capital from public investors.

In a recent interview with Fortune, Coinbase co-founder Fred Ehrsam said that "the company is “spiritually” built to go public via an offering involving digital tokens on a blockchain—the ledger technology that underpins Bitcoin, and which crypto enthusiasts view as the future of financial infrastructure."

However, in the announcement, Coinbase didn't share further details on how it will structure the IPO.

Events to Keep An Eye On:

European Blockchain Conference Barcelona 2021

Jan 25, 2021 - Jan 26, 2021 (Catalonia, Spain)

Disclaimer: The Cryptocurrency market is considered highly speculative, risky, and largely unregulated. Anyone mulling investing in it, should be aware there's a risk of losing their entire investment. 


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