xrp crypto value

Bitcoin Past $51,000; Turkey Readies Regulation

Bitcoin Past $51,000; Turkey Readies Regulation
Written by publisher team

Bitcoin investors are seeing a two-week high, with the popular coin hitting $5,144.62 on December 26, according to a report.

This comes after a tough few weeks as the coin saw a 33% drop. This came after bitcoin hit an all-time high on November 10, rising to $69,000.

The coin has had some conflict since then, dropping to around $45,000 to $48,000, a cut of about $23,000 from its value.

The end of this year has seen the coin rally, although it is up 4% in the past two days and 8% in the last week.

These developments have also been good for other cryptocurrencies, with the 10 digital assets listed on Coin Market Cap trading mostly well, including ether up 1% in the last 24 hours, Cardano up 4% on the day and 16 % during the week. . Additionally, XRP has gained 1.3% for the day and 11.4% for the past week.

The news prompted a Bloomberg report to say that if the currency gains a bit more, there could be significant gains. The study said that the $53,000 to $55,000 mark was important because it would give the currency a way to test its strength. That could lead to another rally.

The report says that the current $51,000 for bitcoin is above the price levels that analysts said caused the currency to drop in value.

Meanwhile, Binance has been fined 8 million lira, or $750,000, in Turkey, reportedly for failing to comply with regulations there.

Reports indicate that President Recep Tayyip Erdogan appears to view the regulations as a way forward.

The president said the country is ready to regulate bitcoin and can send the bill “without delay” to Parliament.

Cryptocurrency was banned in Turkey as a means of payment for goods and services in March 2021, with a focus on making it so that payment service providers cannot make business models related to cryptocurrencies used in payment services.

————————————

New PYMNTS data: Documenting Identities in the Digital Economy – December 2021

on:More than half of American consumers believe biometric authentication methods are faster, more convenient, and trustworthy than passwords or PINs – so why do less than 10% use them? PYMNTS, in collaboration with Mitek, surveyed more than 2,200 consumers to better determine this perception versus the usage gap and identify ways companies can boost usage.

About the author

publisher team