There is generally a very poor acceptance of the CBDC introduced launched last month by the Nigerian government amongst the Nigerian citizens. Many believe that there exists no difference between it's structure and function with the normal online banking app. Critics rather consider it as a subtle means intended to generate income for the government to the detriment of the citizens. The illiterate class on their part have refused to welcome it for fear of fraud and Yahoo guys dealings within the country. All eyes are on the Nigerian government to redefine the functions and structure of the CBDC to suit the demand of the global Cryptocurrency operations and not just an ordinary fiat for online transaction with subtle cost attached.
Wikibit is global crypto regulatory platforms owned by wiki co. limited with branch offices across the globe and headquartered in Hong Kong China. This company through its South African branch, helps to fight crypto Scams in South Africa by carrying out thorough investigation about the existence of the different brokers, online trading platforms and exchange that feature in South Africa. Consequently, all crypto traders in South Africa are invited to download wikibit app. through which they can always obtain correct data and facts surrounding any broker and exchange they intend to deal with. wikibit also helps the defrauded to regain their capital by exposing the Scam brokers and tracing them to repay their clients. All South African traders are invited to report their experience of scam brokers and exchange to wikibit as to fight their battle for them and help them regain their investments.
A new downtrend is about to resume on Bitcoin as the price broke the $60K support level. Bitcoin bulls failed to reach the $69K all-time high that was created about a fortnight ago. An attempt by the bulls to rally price back to the recent high failed as the price began to drop at the beginning of last week.
It's a no-brainer that Bitcoin has gained a massive impression from institutional investors including the likes of Twitter CEO Jack Dorsey the pioneer of the Bitcoin Decentralised Exchange, labelled as 'TbDEX' protocol. A recent report from the supergiant Decentralised finance company "Square" was discovered to have released a whitepaper, For the preannounced Square TBD division that have been mentioned by the CEO of the microblogging site in August. And in less than five months the manifestation of the Bitcoin Decentralised Exchange whitepaper TbDEX has been brought to the limelight.
El Salvador - the world's first country to legalize Bitcoin has further proceeded to create a Bitcoin city with an initial invested fund of $1 Billion Bitcoin. According to the country's president Bukele, the vision for creating this city is to have a center city within the country to provide both digital and technological education. This move will further expedite the proactive involvement of prominent crypto companies including cryptocurrency exchange like Binance, Kucoin, Bitfinex and Adam Back’s Blockstream within the country. A great boon to the Bitcoin present bull run.
The second week of November crowned the digital currency market a fresh rise in overall market Cap with a total net profit of $3 Trillion after the price of Bitcoin made it to the top while hitting its first-ever highest (All-Time high) price of $69k since the last bullish run towards $67K in October. With this being a positive attraction for Bitcoin to defend its title as a hedge against inflation. The market had several institutional investors holding firm to their opinions in association with the value of Bitcoin reaching the $100K target before the year-end.
Looking at the universe above and the universe below, the price of Bitcoin is still in an uptrend. Prices are still high up and a bounce off $62,000 may signal a new all-time high.
The Billionaire and CEO of Apple Incorporation - Tim Cook has revealed last week at the New York Times' DealBook online conference that he personally owns and invests in Crypto Currencies. On the contrary, he elucidated that his company won't be investing in it, at least any time soon. He further considers investment in Crypto as a lucrative adventures but disclaims that his admission is by no means a general assurance to all who invest in Crypto as the market is marked by instability with potential risks. Hence the need for caution in investments.
Bitcoin is the fast-growing Cryptocurrency in the world. A lot of South Africans have been following bitcoin as a first interest in crypto investment, some smart investors have turned to millionaires because of the Bitcoin. Bitcoin has reached a new high a few weeks back, let us take a look at the technical analysis and see where the bitcoin might be heading, this is just a forecast and not a financial investment advice.
Ethereum, the second-largest cryptocurrency, has made a new all-time high at $4700 as the market opens for the week. Being among the top gainers in the recent surge in the price of cryptocurrencies, Ethereum has gained more than 60% of its value since September. Ethereum gained over 10% in the last seven (7) days, according to data from Coinmarketcap.
The crypto market has increasingly witnessed great volatility since the month of November following Bitcoin (BTC) breakout: with Bitcoin surpassing it's previous ATH at 64k in May before the crash to create a new ATH at $66,998 just last month. Consequently, the market has struggled since the month of November to maintain a strong support for Bitcoin above 60K. While Bitcoin has been able to maintain this key support level since the month of October and presently November, Altcoins have since then shown significant recovery with some already witnessing 200% increase and more within this short interval.
Central banks play an essential role in the economy by providing a robust, safe, efficient, and inclusive payment system. They provide monetary and financial stability as well as the safest form of money to the populace - Central Bank Money.
Bitcoin hodlers are wary as price hovers around $60,000 support.
Gold was the monetary index of the 19th century until it was replaced by an array of regional stock indexes in the 20th century. Bitcoin will be the primary monetary index of the 21st century
MALAYSIANS generally have an optimistic outlook on their investments in cryptocurrencies and are aware of risks when investing in cryptocurrencies, as many believe the asset class has several attractive features that make them an excellent alternative investment.
Luno, a regulated digital asset exchange in Malaysia, announced the completion of an online nationwide survey aimed at understanding the financial management habits of everyday individuals.
It will be right to say that the Bitcoin market was engaged in a tight range movement throughout the trading bout of the last week in October. From a technical analysis perspective, we should presume that the entire price action sentiment for the most volatile Altcoin is in preparation for new bullish momentum.
The Crypto Market has witnessed a revival and massive pump on MEMECOINS and SHITCOINS last week after their brutal dump in May following the Bitcoin crash. Particularly, the two Memecoins: Dogelon Mars and Shiba Inu has shown massive pumps up to 4000% and 900% pump respectively in just October alone. Other Shitcoins as Catecoin, Feg, Safemoon, Safemars, Pitbull, Vancat and Elongate has risen by more than 700% each just October alone suggesting a revival and beginning of Memecoins and Shitcoins season.
Bitcoin price hit a new all-time high of $67,000 on Oct. 20, The new high was slightly above the $64,895 high that was created in April 2021. But, the price turned for worse as the market deepened back to the $60,000 support. The bulls found it hard to hold the price at the new all-time high, and this raised concern about the market strength.
Since the inception of Bitcoin in 2009 by the unknown founder popularly known as Satoshi Nakamoto, the march for its legalization as well as other cryptocurrencies had continued till this point. While some countries had officially legalized Bitcoin and accepts it as a legal tender, others rather reject and ban it. The rest tend to maintain a neutral approach of tolerating it without either banning nor legalizing it. The major reason for this has been that Bitcoin and other cryptocurrencies lacks regulation and centralization and hence, beyond the control of the government. However, there is a general vision that given the popularity of Bitcoin itself and other cryptocurrencies, more countries will in no distant time give an official approval and legalization of Bitcoin and Cryptocurrencies.