Bitcoin news daily: Data and price analysis for November 22, 2021
- Bitcoin stayed weak on Monday and near-critical levels
- Bitcoin is currently trading around $57,310.61, down 2.86%
- Bitcoin fear and greed index went from 49 to the neutral level of 50
Bitcoin, the world's largest cryptocurrency, stayed weak on Monday and near-critical levels that analysts believe could spell further weakness if breached.
The Bitcoin fear and greed index on Monday, November 22, 2021, went from 49 to the neutral level of 50 as per the alternative. me. The Fear and Greed index is a technique for assessing investors' emotions toward the market.
Bitcoin is currently trading around $57,310.61, down 2.86%. In the last 24 hours, the highest it touched was $60,004.43, and the lowest was $56,868.39. Bitcoin has a current market cap of $1,083,009,620,405. It has a circulating supply of 18,880,000.00 BTC coins and a maximum supply of 21,000,000 coins.
El Salvador president Nayib Bukele unveiled the country's plan to construct the world's first Bitcoin city, which will be financed via the issuance of $1 billion bitcoin bonds in 2022. However, no timeline was mentioned for the construction of this city.
Twitter CEO Jack Dorsey announced tbDEX, the decentralised bitcoin exchange that aims to make bitcoin the native currency of the internet by merging the existing gap between fiat and Bitcoin. The exchange will offer a direct way for people to convert their fiat into Bitcoin without having to go through multiple platforms.
Australia is all keen on letting cryptocurrencies become an inherent part of the country’s financial system. Jane Hume, the Minister for the Digital Economy recently made positive comments in favor of digital assets while speaking at the AFR Super and Wealth Summit.
Hume stated that cryptocurrencies ‘are not a fad’ while adding that they are ‘not going away any time soon’. She compared the current crypto market conditions to that of the early internet era of the 1990s. ‘Don’t be the person in 1995 who said the internet was just a place for geeks and criminals and would never become mainstream,’ Ms. Hume said.