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One week has passed. Whether politics made the week good or bad depends on your opinion, but if you’re holding Bitcoin, it was definitely a positive one. The price has risen more than 8.5% in the past seven days. He is now over $ 14,000 and has spent 100 days over $ 10,000. Some experts predict a new leap. Others are looking to 2016 for positive signs. Even then a period of pre-election stability was followed by a rally. The next resistance level could be $ 17,000. Will Bitcoin Get There? Much depends on what falls first.
The whales certainly seem optimistic. Election day saw 58,861 BTC exit Binance. That’s about 816 million dollars. It could be the result of a deal, but it could also be whales preparing for a price hike. About $ 1 billion has also come out of a Silk Road wallet for the first time since 2015. It could be the result of a hack.
But Paypal is optimistic about the future of Bitcoin. The company is increasing its weekly purchase limits from $ 10,000 to $ 15,000. And the coin has a new friend in the US Senate. Republican Cynthia Lummis won her run to represent Wyoming. Lummis first bought Bitcoin in 2013 and sees the digital currency as a reliable store of value.
However, it’s not just Bitcoin that’s doing well. The technology it is based on is also on a roll. The Associated Press used a blockchain to publish election results while ensuring those numbers could not be breached. Andrew Bragg, a member of the Australian Senate, has pushed blockchain as a way to facilitate financial compliance. Gibraltar joined the Global Blockchain Business Council as an observer member. The British Overseas Territory joins more than 50 countries in the council and plans to promote the use of blockchain across the island. In Bangladesh, the local branch of HSBC carried out the country’s first international blockchain commercial finance transaction. Processing the digital letter of credit took less than a day. Without the blockchain, it would have taken 5 to 10 days.
Bitcoin and blockchain may be on the rise, but DeFi markets are starting to cool. Ethereum fees are down. But Electroneum is ready and partying. The crypto payment network is celebrating its third anniversary. He is looking forward to expanding the use of his ETN coin and growing his AnyTask concert platform.
Finally, if you feel like driving out of the year in a new Tesla Model 3, CoinZoom is giving away one. Use a CoinZoom VISA card or trade some backs on the platform’s exchange and you are good to go. It would be a good week.
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The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move carries risk, you should conduct your research when making a decision.
