Bitcoin (BTC) is seeking to continue its recovery by breaking over the psychological level of $50,000, although numerous prominent analysts predict that BTC will stay range-bound for several weeks or even months.
Also Read| Crypto Fear and Greed Index on December 13, 2021
On-chain analytics firm CryptoQuant said that Bitcoin “whales are still depositing BTC to exchanges.” This simply indicates that whales are setting themselves up to react at short notice depending on which path the price elects to take. Some believe the current fall looks similar to the March 2020 crash.
Bitcoin fell below the uptrend line and psychological support level of $50,000, potentially resulting in panic selling by traders. Although bulls eagerly purchased the dip, they are finding it tough to drive the price over $50,000.
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Bitcoin fear and greed index on Monday, December 13, 2021, went from the fear level of 27 to the level of 28 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 $49,119.21, up 0.06%. In the last 24 hours, the highest it touched was $50,724.87 and the lowest was $48,667.70. Bitcoin has a current market cap of $928,841,339,205. It has a circulating supply of 18,899,625.00 BTC coins and a maximum supply of 21,000,000 coins.
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Binance Singapore Announces the Cancellation of Crypto License Plans in the City-State
Binance’s Singapore entity plans to withdraw its application for a crypto license in the city-state, and will expel local users by Feb. 13, 2022, the exchange said on Monday. Binance Asia Services (BAS), the exchange’s local affiliate, is one of approximately 170 crypto firms that had applied for a Digital Payment Token License in Singapore, which would allow them to offer digital assets services to local users. Firms are allowed to offer crypto services as long as their license application is under review. Binance will stop offering services through its local site, Binance. sg, by Feb. 13, 2022, closing all existing accounts. Users have to close their positions by that date.
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PM Modi’s Twitter account was hacked with a Bitcoin tweet and was ‘immediately protected.’
The official Twitter account of Indian Prime Minister Narendra Modi got compromised yesterday, which was then used to share misleading information about the mainstream adoption of Bitcoin (BTC) and redistribution of 500 BTC among the Indian citizens. The tweet was soon deleted and another tweet was sent announcing the account had been secured. On Friday, Modi said in a virtual summit hosted by United States President Joe Biden that technologies such as cryptocurrencies should be used to empower democracy and not undermine it.
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Yuvraj Singh announced the NFT collection on his 40th birthday
Yuvraj Singh has become the latest celebrity to join the NFT (non-fungible token) bandwagon. The former India all-rounder took to Twitter to share the big news to his fans on his birthday. Yuvraj Singh said he’s launching the Yuvraj Singh NFT Collection in association with Colexion, a digital collection marketplace for premium NFTs. The Yuvraj Singh NFT collection will be officially launched on December 25. In a promotional video, Yuvraj can be seen saying NFT “is the present”. “So, I have decided to give my fans a big present. I am gonna make a big NFT collection for them,” he said.
