Crypto.com Weekly Market Update (Week 7, 14/02/2022 – 20/02/2022)
Bitcoin falls to $38K on Sunday. Warren Buffett invests $1B in Bitcoin-friendly Nubank.
Key Takeaways
Bitcoin (BTC) recovered from its latest dump to USD 42,000 and jumped to nearly $45,000 on Tuesday and Wednesday. However, the cryptocurrency failed to continue upwards and plummeted to a two-week low at $38,000 on Sunday.
Warren Buffett's Berkshire Hathaway dumped a portion of its Visa and Mastercard holdings and invested $1 billion in the Bitcoin-friendly Nubank, the largest FinTech bank in Brazil that's also popular among the country's Bitcoin investors.
The general price, volume, and volatility indices were negative at -8.70%, -16.68%, and -6.40%, respectively.
Highlights
Bitcoin hits $44K after Canada emergency powers accompany 6% BTC price rise
Crypto market flirts with $2 trillion capitalisation despite snoozing bulls
Bitcoin briefly dips below $43K as Fed says rate hike ‘soon appropriate’
OpenSea users had millions of dollars worth of NFTs stolen in phishing attack
USDC issuer Circle is now valued at $9B under revamped SPAC deal terms
Bitcoin outperforms major tech stocks by an average of 12% in the last 30 days
Russian Ministry pushes to legalise Bitcoin mining In energy-rich areas
Overwhelming support for Grayscale BTC Trust ETF conversion proposal
Mastercard to offer crypto and NFT consulting services, may help develop CBDCs
JPMorgan enters the metaverse with virtual Decentraland lounge
Crypto lender Nexo to stop paying interest on new deposits from US customers
With $100M settlement confirmed, BlockFi aims to register Yield with SEC
DBS plans to launch retail digital assets trading desk by year-end
Oil giant ConocoPhilips reduces gas flaring emissions via Bitcoin mining
Check the latest prices on Crypto.com/Price.
Notable Events
Bitcoin (BTC) has fallen below the crucial $40,000 psychological barrier (again). (ref) The world’s No. 1 cryptocurrency hit a new low of $38,000 on Sunday, struggling to find support while whales remain sidelined (ref).
Vitalik Buterin, co-founder of the Ethereum's (ETH) blockchain said that crypto ‘welcomes’ another winter, and that the digital-asset universe may actually benefit from the current retreat in coin prices that’s cast a chill on investors. (ref)
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