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Bitcoin mimics stock rally, Morgan Stanley says bitcoin reform is nothing new and does crypto make it even more attractive? This is more news this week about crypto.
Bitcoin is back at $ 40,000 for the first time in weeks as Wall Street also experienced a huge increase. Over the past month, the crypto market has been closely linked to global budgets. The strong, sudden rise in bitcoin came at a cost to short traders, with more than $ 50 million in short positions completed in four hours.
Investment bank Morgan Stanley reported that the 50% decline in Bitcoin from the November record high is nothing new and the correction is within historical terms. A research article, titled “State of the Bear Market” noted that Bitcoin has seen 15 bear markets since 2009 and the adjustments seen in recent months are within the scope of what has happened in the past.
According to MicroStrategy CEO Michael Saylor, to buy Japanese rival Liquid and all its subsidiaries operating for an undisclosed amount. FTX earlier this week announced that raised $ 400 million in a sponsorship round that upgraded FTX to $ 32 billion . FTX is growing rapidly in the Asian crypto market at a time when space competition is hot.
Philadelphia prepares to follow Miami, Austin and New York is working with CityCoins to develop cryptocurrency for its citizens. The mayor of Philadelphia, Jim Kenney, endorsed the idea and said he was enthusiastic about the power of the CityCoins program that allows users to donate crypto money to their hometown to get crypto prizes.
Ethereum founder Vitalik Buterin is back $ 100 million of Shiba Inu coins donated to the CryptoRelief Indian fund COVID-19 in 2021. Buterin said he plans to use the funds for himself. in some high-risk, high-cost COVID science and global relief projects.
NFL and Ticketmaster teamed up to give Super Bowl audience a reminder of this year NFTs for their tickets . The NFL described the NFT ticket as a digital reminder of their Super Bowl experience and said it would enable the organization to continue exploring the NFT’s venue for upcoming ticketing and event participation opportunities.
Research has found that 33% of Americans are likely to date someone who speaks cryptocurrency in their online dating profile. In addition, about three out of four songs would be very interesting on the second day with someone who paid for a restaurant with Bitcoin according to a study by eToro.
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That’s what happened this week on crypto, we’ll see about it next week.
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