Bitcoin’s (BTC) price momentum is improving, which could limit further downside between the $53,000-$55,000 support range. Buyers will need to make a decisive move above $60,000 resistance to yield an upside target toward the all-time price high of nearly $69,000.

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For now, BTC is trading in a tight range and has been roughly flat over the past week. The relative strength index (RSI) on the daily chart is rising from the oversold levels of last week, which typically precedes a price bounce. Support remains intact given the upward-sloping, 100-day moving average. This indicates a positive intermediate-term trend, which could encourage additional buying on pullbacks.

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Bitcoin fear and greed index on Thursday, December 02, 2021, went from the fear level of 34 to the level of 32 as per the alternative. me. The Fear and Greed index is a technique for assessing investors’ emotions toward the market.

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Bitcoin is currently trading around $56,234.46, down 1.72%. In the last 24 hours, the highest it touched was $59,041.69 and the lowest was $55,895.13. Bitcoin has a current market cap of $1,062,184,607,838. It has a circulating supply of 18,888,500.00 BTC coins and a maximum supply of 21,000,000 coins.

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The Metaverse is a $1Trillion opportunity according to the Grayscale report

Grayscale, crypto investing firm, has released a positive assessment on metaverses, claiming that the “market potential” for bringing the metaverse to the mainstream may be worth more than $1 trillion in the coming years. Grayscale head of research David Grider and research analyst Matt Maximo authored the November report titled “The Metaverse, Web 3.0 Virtual Cloud Economies.” The team investigates the developing industry largely through the lens of open metaverse worlds supported by an”interconnected crypto-economy” like Decentraland.

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Analyzing “global all-time active metaverse wallets” data since the beginning of 2020, it discovered that the user base has risen 10x since then, to roughly 50,000 as of June 2021. The report highlights that there’s no shortage of venture capitalists taking a punt on the sector’s potential. The fundraising totaled $1 billion for blockchain gaming in Q3. That represented 12% of total fundraising for the entire crypto sector in the quarter, ranking it as the “top sub-sector” within the Web 3.0 and NFT category. There is no shortage of venture capitalists betting on the sector’s potential. According to the report, blockchain gaming financing surpassed $1 billion in Q3. This accounted for 12% of overall crypto sector funding in the quarter, making it the “leading sub-sector” inside the Web 3.0 and NFT category.

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Jack Dorsey’s Square rebrands to Block as focus shifts to blockchain

Digital payments company Square headed by the former CEO of Twitter Jack Dorsey announced that it has changed its company name to Block, seemingly in a shift towards blockchain technology. In a Wednesday tweet, Square said the rebrand will bring the payments firm together with Cash App, the decentralized Bitcoin (BTC) exchange project tbDEX, and music and video streaming platform Tidal. An accompanying news release said that Square Crypto, the cryptocurrency-focused branch of the payment firm, will also be changing its name to Spiral and joining the Block family.

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Mark Zuckerberg’s Facebook eases cryptocurrency advertisement  policies

Facebook has now put up the list of acceptable licenses on its policy page. On the list, the tech giant groups crypto companies into two broad categories depending on whether or not they’d be needing a prewritten approval in order to be able to list ads. Basically, this implies that exchange firms, mining-related companies, and trading platforms will all be needing prior approvals. Whereas, news and media outlets and education platforms that deal with crypto-related issues will not be needing any prior approval. Before this recent move by Facebook, advertisers usually had to go through a tedious process of submitting several documents to prove their eligibility.

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Croatia’s largest supermarket Chain starts accepting cryptocurrency payments

Croatia’s largest supermarket chain the Konzum retail chain will start accepting crypto payments on their online store. Konzum is the first retail giant in Croatia to start accepting Bitcoin (BTC) and a few other altcoins as a mode of payment. Individuals as well businesses can now buy daily usage groceries and 12,000 products from Konzum online store using cryptocurrencies.

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Crypto as assets are worth consideration says Infosys chairman Nandan Nilekani

Nandan Nilekani, chairman of software services exporter Infosys, said at the Reuters Next Conference on Wednesday that crypto assets are worth consideration and may be used to increase financial inclusion. “There is a role for crypto as assets, but they obviously will have to follow all of the laws and make sure that it doesn’t become a backdoor for money laundering… they have to use that [as] an entry point to get a lot of young people into financial markets,” said Nilekani, who co-founded Infosys, India’s second-biggest IT firm, in 1981.

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