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⚡ Will Bitcoin Remain Bearish Until The Next Halving?
⚡ Will Bitcoin Remain Bearish Until The Next Halving?
Recent price action suggests that bears control the market.
| | | Should We Wait Until 2024 For Bulls To Return? |
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Crypto prices have been falling steadily after Bitcoin reached a new all-time high at nearly $69,000 on November 10. Of course, multiple events could have influenced cryptocurrency price movements. A few days ago, Russia's central bank proposed a blanket ban on digital asset trading and mining activity, which already received quite some opposition from the country's Ministry of Finance that wants to regulate crypto instead. Also, while many see Bitcoin as a safe-haven asset that doesn't move in the same direction as the general market, there has been some correlation lately between BTC and tech stocks. Interestingly, during the recent crypto market downturn, both tech stocks and digital assets fell significantly. That said, as cryptocurrencies have failed to recover since November, it seems like bears have taken over the market, pushing prices to new lows. But does this mean we have to wait until 2024, when the next Bitcoin halving will take place, for bulls to return? Check out this Blockdesk article to learn the answer and gain insight into the recent price action of top cryptocurrencies! |
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Despite the recent market downturn, activity around crypto is not stopping any time soon. Below, you can find further exciting stories, which will get you up-to-date with the latest events, trends, and news within the digital asset space: |
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The NFTimes - What's Dropping This Week? – Have you heard about NFTtimes? It's our new weekly summary that will collect all the major events and updates within the NFT sector so you can stay in the loop with non-fungible tokens. Check out the first edition of NFTimes to learn more! IMF Sends Fresh Warning To El Salvador Over Bitcoin Adoption – While the whole crypto community celebrated, El Salvador's Bitcoin adoption received heavy criticism, especially from large financial market players and international organizations. The IMF was one of the loudest critics of the decision, which still voices its concerns in a new report published by the financial institution's executive board. Kazakhstan Cuts Off Power Supply For Bitcoin Miners – After the Chinese crackdown on crypto activity last year, Kazakhstan has become one of the top destinations for miners. However, further relocation might be a likely scenario, as the nation just cut off power for Bitcoin miners until the end of January. |
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Hope you enjoyed the stories we have collected for you this week. Be sure to have a good rest over the weekend, as we will return with our latest collection of Blockdesk articles on Monday! |
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| Cheers, The Blockster Team |
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© 2021 Blockster. All rights reserved |
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