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Peter Davis

An writer at FOMOdrive

  • Dec 06, 2023
  • 3 min read

Bitcoin reached new highs of the year near $44,500

It appears that Bitcoin is heading towards the $48,500 or even $50,500 mark.

An accelerating bull market has been entered by BTC.

Over the year, there was a 20% increase in the amount of Bitcoin addresses.

Dogecoin, the popular meme cryptocurrency, is marking its 10th anniversary with a surge in activity.

Michael van de Poppe, founder of MN Trading, stated that as long as Bitcoin's rate stays above $39,000, the chances of it dropping to $30,000 are very slim. He believes that Bitcoin is on its way to hitting the $48,500 or even $50,500 levels before the halving, which is typical behavior for BTC in previous cycles.

Glassnode has observed that Bitcoin is now in the early stages of an accelerating bull market. BTC's 142% year-to-date growth is in line with the 2015-2017 and 2018-2022 cycles. Most Bitcoin investors are in the green, and several on-chain indicators are showing signs of enthusiasm in an uptrend.

The number of BTC addresses holding cryptocurrency has seen a 20% increase since the start of this year, according to Santiment. This growth is being driven by the low exchange supply of BTC, which has dropped to its lowest level in six years. Currently, there are more than 50 million BTC addresses.

Brian Armstrong, the CEO of Coinbase crypto exchange, has stated that Bitcoin is a great alternative to the US dollar and other fiat currencies. He believes that BTC could be a solution to inflation.

The US Securities and Exchange Commission (SEC) has requested the court to determine if the cryptoassets sold by Terraform Labs are unregistered securities. The regulator is strongly asserting that these cryptocurrencies fit the definition of securities.

In the Swiss city of Lugano, where the authorities have a favorable outlook on cryptocurrencies, a system has been implemented to accept payments for taxes and municipal services in both BTC and USDT.

According to an ECB study, cryptocurrencies are a viable alternative to traditional finance (TradFi) for those in emerging market countries and younger populations who may not have access to it.

This week marks the 10th anniversary of Dogecoin (DOGE), the most successful meme cryptocurrency. Developed by programmer Billy Marcus and engineer Jackson Palmer as a parody of Bitcoin, DOGE has seen a 16% surge this week, reaching a new high of over $0.106 in the past year.

Anatoly Yakovenko, co-founder of Solana, stated that in order to build a user base, the number of Saga smartphones sold must be increased from the current 2,200 to between 25,000 and 50,000 since its launch.

Individuals now have limited access to Sberbank's Digital Financial Assets (DFA) platform.

Rostelecom has listed a Digital Financial Asset (DFA) on the Moscow Exchange, with an issue volume of 200 million rubles and a circulation period of four days, offering an annual rate of 15.26%. This DFA release will enable Rostelecom to broaden its borrowing infrastructure by entering the digital financial assets market.

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