Bitcoin marks a new bullish trend in the markets and reaches new all-time highs, while Ethereum 2.0 is just hours away from finally starting its Phase 0. These and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
📍 Bitcoin (BTC) is on the rise again. The cryptocurrency The digital market leader started the week with a value close to $18.500 USD, while at the time of this edition it exceeds $19.600 USD per unit again, with a growth of more than 6% in the last 24 hours. But that's not all, according to the data provider CoinGeckoBitcoin surpassed its all-time high in price and market capitalization, marked on November 20, when the cryptocurrency positioned itself as the largest "bank" in the world with a capitalization of more than 350 billion dollars, overcoming JPMorgan's.
The price of BTC rose to $19.800 USD and its capitalization rose to more than $362 billion, marking a new all-time high for the cryptocurrency and positioning itself again as the world's first bank by market capitalization. At the time of this note, Bitcoin has a capitalization of 361,8 one billion dollars.
Source: Companies Market Cap
📍 Bitcoin's new bullish rally, which occurs just a few days after suffering a correction of more than 12% in its price, is driven by an increase in institutional participation, as one of the largest weekly gold outflows occurs.
Analysts assume that institutions that are increasing their Bitcoin holdings are betting on the cryptocurrency as a long-term investment, which is significantly boosting the BTC price and may sustain the bullish trend. Likewise, well-known investors are liquidating their gold positions and dedicating themselves completely to Bitcoin; as did the CEO of Real Vision Group, Raoul Pal, who revealed that he is selling his stake in gold to invest all his capital in cryptocurrencies, specifically Bitcoin and Ethereum.
📍 On the other hand, Tyler Winklevoss, renowned investor and entrepreneur, founder of the investment company Winklevoss Capital Management and the exchange of cryptocurrencies Gemini, he assured during a interview that the Bitcoin price outlook will continue to be favorable, and that the cryptocurrency can even reach $500.000 USD.
Winklevoss also highlighted his views on fiat money, saying it is nothing more than “garbage” that investors will soon dump. Tyler Winklevoss, along with his brother Cameron Winklevoss, also believes that the current bull run is different from previous cycles due to the large institutional participation that exists in today’s markets.
📍 With the new Bitcoin bull rally, the altcoins of the market, as Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), and others are also in the green. ETH has a growth of more than 6%, with a value above the $604 USD per unit; XRP also shows a 6% growth in the last 24 hours, with a value of $0,69 USD, and BCH shows a growth of more than 10% with a value of more than $312 USD per unit, at the time of this edition.
Likewise, the interest in Internet searches for terms such as: Cryptocurrencies, How to buy cryptocurrencies? and altcoins, have almost doubled and tripled compared to Google Trends values last week. Likewise, the interest in Ethereum 2.0 grew by 100% with the arrival of the big day to start the first phase of the network upgrade.
📍 This December 1st is the big day for the start of Ethereum 2.0, the most anticipated update by the crypto community for the platform smart contracts most well-known and used in the world. Ethereum 2.0 reached the minimum threshold required to start its Phase 0 on November 23, so the developers confirmed the start of the genesis on December 1.
📍 EthicHub, a digital crowdlending platform announced the launch of its Ethix token, which is intended to contribute to and support the development and sustainability of small farmers in Mexico.
In its presentation, EthicHub points out that its new token was created with the aim of creating key incentives to promote the growth of the platform, while it efficiently contributes to mitigating the risks faced by farmers in the country. EthicHub has been promoting the implementation of blockchain technology for years to build solutions that favor the fair and balanced financial integration in Latin America.
Continue reading: Satoshi Nakamoto Lived in London and Bitcoin Was Born There, New Report Suggests
