Bitcoin It traded bearish on Dec 20, breaking out from a narrow $16,550 to $16,800 range and declining towards the $16,300 level. However, bitcoin is back in the same trading range as before. Investors are waiting for a solid fundamental reason to drive price action. Similarly, the overall cryptocurrency market is behaving sluggish, possibly due to the upcoming holiday trading session.
Overall major altcoins were trading in the red as of early December 20 crypto market cap Compared to the previous day, it decreased by 1.45 percent to $ 800.17 billion. In the last 24 hours, the total cryptocurrency market volume has increased by 54.22% to $33.04 billion.
Total volume in DeFi currently stands at $1.80 billion, or 5.44% of the total 24-hour crypto market volume. The total volume of all stable coins is now $30.60 billion, which is 92.62% of the total 24-hour volume of the crypto market.
Nigeria set to legalize the use of bitcoin
On December 18, a local Nigerian newspaper reported that the chairman of Nigeria’s House of Representatives Committee on Capital Markets and Institutions, Babangida Ibrahim, said that the government would soon pass legislation to legalize the use of bitcoin and cryptocurrencies. Ibrahim stressed the importance of keeping Nigeria up to date on changes and developments in the capital market.
According to reports, the Nigerian government will soon pass a law recognizing the use of bitcoin and other cryptocurrencies in order to follow “global practices”.
According to the article, if the Investment and Securities Act 2007 (Amendment) Bill is passed into law, the Securities and Exchange Commission will be able to recognize bitcoin and other digital assets as capital for investment. The proposed bill would also define the regulatory responsibilities of the SEC and CBN for digital currency.
Despite the current ban, bitcoin has a significant presence in the nation, with the creation of a bitcoin village, Nigerian bitcoiners participating in various development projects, charitable work by bitcoin firms, and mining being a thriving industry there. The proposed changes would regulate how bitcoin and other cryptocurrencies are used in Africa. As a result, the value of BTC/USD may increase.
Edward Snowden wants salary in BTC
In a recent tweet, US National Intelligence Agency whistleblower Edward Snowden offered to lead Twitter. Snowden also tweeted on December 19 that he would accept bitcoin as payment. The tweet was in response to Elon Musk’s poll, which asked users whether they thought he should step down as CEO of Twitter. He also said that he would focus on the results of the election. There are 16,098,545 votes in the poll, which will close in 1 hour.
According to the latest data, 56.8% of the votes indicate that people want Musk to step down as CEO of Twitter. The poll received only 43.1% “no” votes. Musk may need to find a suitable replacement for CEO of Twitter soon, as the vote is unlikely to go in his favor. Some experts believe that the poll is just for show, and that they have already picked a new CEO.
However, the coin could benefit from Edward Snowden’s offer to take over as CEO of Twitter in exchange for a salary in bitcoin. His statement shows that there is some potential for BTC/USD, and it will grow significantly.
binance fud
The world’s largest exchange Binance is facing many difficulties. This includes a possible investigation into money laundering and a significant increase in user withdrawals. The main takeaway from an early week survey of crypto media is that Binance is in the headlines because of what CEO Changpeng Zhao calls “FUD” (fear, uncertainty and doubt).
In recent weeks, the media and public have reacted negatively to the world’s largest cryptocurrency exchange by volume, despite its best efforts to show off its reserves. Additionally, bitcoin withdrawals increase as Binance bounces back from a media storm and related claims of questionable behavior. Binance FUD has also slowed down the growth of BTC/USD.
bitcoin price
current price of bitcoin $16,702, and a 24-hour trading volume of $19 billion. The BTC/USD pair has gained approximately 0.20% over the past 24 hours, while coinmarket cap Currently ranked 1st with a live market cap of $321 billion.
Despite the bearish breakout from the $16,550 to $16,800 trading range, bitcoin is back in the $16,700 trading range. For now, the immediate resistance of bitcoin remains at $16,800, and a candle closing below this level indicates the possibility of a bearish trend.
On the downside, an immediate support for bitcoin lies at $16,250 or $16,100, and a bearish breakout of this level could expose BTC to $15,650.
The MACD and RSI indicators are showing a mixed bias, with the RSI still in the sell zone and the MACD showing a bullish crossover in the buy zone. Finally, a close of the candle below the 50-day simple moving average indicates a likely continuation of the downtrend.
High Profitability Alternative Coins
The global cryptocurrency market is bearish, but only a few coins are making headlines. Let’s explore them!
FightOut (FGHT) – Presale Launch
to fightA new move-to-earn (M2E) fitness app and gym chain that aims to bring the fitness lifestyle to Web3 has launched its pre-sale, attracting the attention of investors who want to fund the project. See it as having the potential to revolutionize the landscape. ,
While existing M2E apps such as StepN only measure steps and require an expensive non-fungible token (NFT) buy-in to join, FitOut offers a more comprehensive approach to tracking and compensating users for exercise and activity. which does not require any such buy-in. ,
Because the pre-sale raised over $2.85 million in just a few days, investors are urged to act quickly to secure their FGHT tokens at the current price of 60.06 USDT per 1 USDT.
FGHT Coin will power the FightOut crypto ecosystem.
Dash 2 Trade (D2T) – Final Phase of the Presale
Dash 2 Trade is an exciting cryptocurrency trading platform company that you can invest your money in. With its unique features, the new analytics and social trading platform is anticipated to take the crypto trading business by storm. Features include trading signals, social sentiment and on-chain indicators, pre-sale token scoring system, token listing alert system, and strategy back-testing tools.
The Dash 2 trade ecosystem will be powered by the D2T token, which users must purchase and hold in order to access the platform’s services.
Dash 2 Trade is now conducting a token presale at dramatically reduced prices, selling over $10.4 million. The tokens can be obtained now for $0.0533 per token and will be available on various centralized exchanges over the next month.
Calvaria (RIA) – Final pre-sale phase now
A new play-to-earn battle card crypto game called RIA could become a reality. Calvaria aims to increase cryptocurrency acceptance by building a bridge between the real world and cryptocurrencies in the form of an engaging and simple-to-play crypto game.
Calvaria’s RIA token pre-sale may attract investor interest. Calvaria has raised $2.5 million and is nearing the end of its fundraising campaign, with only 19% of its tokens remaining.
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