Cryptocurrencies have resumed a bullish phase: while some assets have performed better than average. All the main ones cryptocurrencies are following the trend of Bitcoin, which is trying to face an upward phase after the brief collapse at the beginning of the month. Currently, the total crypto market cap has reached T $ 2.18, with a 41% BTC dominance. Bitcoin’s falling wedge pattern is around 43,500 euros with support at 40,000: any possible breakout from this pattern would open the door to a new trend.
After its all-time high in November, the price of ETH has faltered – The second most popular cryptocurrency is trading within a range that has created a falling wedge pattern, which occurred between May and July, then between September and October. ETH recently traded at a value of 3,500 euros, almost the same as it had in May. The price of ETH was up 440% for the current year, rising 150% from its July low and climbing significantly by the way. of the Hardfork London update. The smart contract ecosystem is also expanding, as it continues to be the flagship network for both the DeFi and NFT sectors of the blockchain industry.
DOGE on the crest of the wave – Elon Musk, CEO of Tesla, announced that his company will accept payments in DOGE, increasing the value of the cryptocurrency by nearly 40%. The meme coin is currently trading at around 0.2 euros.
Shiba Inu returns to the fore – The infamous Shiba Inu meme token rocked the entire cryptocurrency market with its extreme price movement earlier this year, securing a spot in the top 10 cryptocurrencies for a short time. The hype around the token seemed to have faded, but it has recently returned to the fore due to the launch of a cross-platform game that will hit the market by the first half of 2022.
BEST 2.0 – Bitpanda’s loyalty program is updated with a new version that brings big changes in terms of rewards and benefits. The BEST VIP levels go from three to five and allow you to access VIP benefits with a minimum of 10 BEST. But that’s not all, because thanks to the introduction of the brand new BEST Stimulus program, Bitpanda will burn BEST up to 25% of the trading commissions collected by BEST holders with VIP level. A process that will be repeated monthly, until a maximum of 75% of the total supply of BEST (out of a billion of BEST originally issued) has been burned.
Polkadot saw a 400% growth between July and November, reaching its all-time high at 47 euros. Similarly to the cryptocurrency market, DOT has also seen a bearish phase and is now testing support below 22 euros. The RSI indicator is slowly rising, a sign that this support could hold its own in the coming days.
The cause that many hoped could lead to the revelation of the true identity of Satoshi Nakamoto has ended. Craig Wright, known to the public for having claimed to be the creator of Bitcoin Satoshi Nakamoto, was sued by the family of the late Dave Kleifman for the exorbitant 1.1 million Bitcoins that the two would have mined together in the first few days. of the birth of digital currency.
Wright was found guilty of intellectual property theft only and will have to pay Kleiman’s family a whopping $ 100 million in damages. According to some, Wright’s innocence would be the final proof that he could actually be Nakamoto, while for others it remains a very expensive way to feed the lie and hide the true identity.
Stock market news
The stock market closed a rather positive week with European and US indices returning percentage points in green, especially the S & P500 which for the second time recorded a record high. The Asian stock market also closed the week safely. The cryptocurrency sector faced a mixed path last week, as the markets suffered repercussions due to uncertainties related to global fiscal policies and the ongoing effects of the Omicron variant.
On December 15, the Federal Reserve System, the central banking and monetary authority of the United States, said it will change its policy on interest rates and bond purchases because inflation rates have become increasingly high: they are currently at 6 , 8%, the highest figure in the last four decades. Instead, the Fed’s goal is to set it at 2%, forecasting a minimum of three interest rate hikes over the next year. Markets reacted positively to the news.
DocuSign (DOCU) is down – The American technology company famous for providing electronic signature and contracting solutions took a significant blow after its report on expected and achieved results. Following missed targets, many of the top analytics firms such as JPMorgan and Citi lowered their DOCU ratings and heavily adjusted their price estimates. Since the event, DOCU’s price has seen a slight rebound, but is still trading around the valuation achieved after the dip.
Volkswagen (VOW) attempts a green turn – The German carmaker’s price closed positively due to multiple partnerships with leading battery technology companies, such as Vulcan Energy Resources, in a significant effort to fully switch its offering to electric vehicles by 2040. The company has also invested in startup 24M Technologies and aims to dedicate € 30 billion to its EV developments, including six new mega-factories to open in Europe in the coming years.