{"id":526,"date":"2023-12-30T11:00:50","date_gmt":"2023-12-30T11:00:50","guid":{"rendered":"https:\/\/wagecan.com\/blog\/?p=526"},"modified":"2023-12-30T17:54:09","modified_gmt":"2023-12-30T17:54:09","slug":"biweekly-headlines-2023-dec-w4-dec-w5","status":"publish","type":"post","link":"https:\/\/wagecan.com\/blog\/2023\/12\/30\/biweekly-headlines-2023-dec-w4-dec-w5\/","title":{"rendered":"Biweekly Headlines 2023 Dec W4 \u2013 W5"},"content":{"rendered":"\n

Price of Bitcoin on Christmas Day <\/em><\/strong>\ud83c\udf84<\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n

2023: $43,254<\/em><\/strong><\/p>\n\n\n\n

2022: $16,849<\/em><\/strong><\/p>\n\n\n\n

2021: $50,888<\/em><\/strong><\/p>\n\n\n\n

2020: $23,760<\/em><\/strong><\/p>\n\n\n\n

2019: $7,266<\/em><\/strong><\/p>\n\n\n\n

2018: $4,021<\/em><\/strong><\/p>\n\n\n\n

2017: $14,302<\/em><\/strong><\/p>\n\n\n\n

2016: $894<\/em><\/strong><\/p>\n\n\n\n

2015: $456<\/em><\/strong><\/p>\n\n\n\n

2014: $318<\/em><\/strong><\/p>\n\n\n\n

2013: $669<\/em><\/strong><\/p>\n\n\n\n

\n\n\n\n
\"\"<\/figure>\n\n\n\n

Biweekly News Roundup<\/strong><\/p>\n\n\n\n

1. Global Market Overview<\/strong><\/p>\n\n\n\n

The global crypto market cap is $1.69 trillion, up 112% over the last 12 months. Even as crypto stocks and Bitcoin miners experience a sell-off due to profit-taking capping an explosive year-end, there have been increases of 155% and 93% in the prices of Bitcoin and Ether, respectively. The increase has been particularly striking in some altcoins such as SOL and Avax which have increased by 880% and 250% respectively over the same period. SOL is trading at a 20-month high on the back of a bustling DeFi ecosystem and meme coin mania. On-chain data shows the Bitcoin mining hashrate has continued its recent uptrend and has reached a new all-time high. Ethereum emerges as a key blockchain for tokenized real-world assets.<\/p>\n\n\n\n

2. Bitcoin’s Role Amid Global Instability<\/strong><\/p>\n\n\n\n

Amid escalating global tensions and instability in regional banks, Bitcoin reaffirmed its role as a dependable asset. The move by TradFi giants to apply for Bitcoin spot ETFs and tokenize real-world assets (RWAs) marks a notable integration of conventional and digital finance.<\/p>\n\n\n\n

3. Corporate and Investment Moves<\/strong><\/p>\n\n\n\n

MicroStrategy added more to its holdings, buying 14,620 BTC for around $615.7M. Since beginning its bitcoin purchases in August 2020, MicroStrategy had amassed approximately $2 billion in profit by early December. Coinbase stock 2023 returns pass 400%, beating tech giants and BTC.<\/p>\n\n\n\n

4. Investment Trends and Projections<\/strong><\/p>\n\n\n\n

Crypto investment products saw inflows totaling $103M in the week ending Dec. 22. Germany saw the largest inflows of any country at over 40% of the total. Canada saw the second-largest, representing 25% of the total. 20% came from the US and nearly 15% from Switzerland. Bitfinex analysts said the number of users could jump to almost 1B in 2024. As cryptocurrency enters its 15th year, 2024 is poised to be a pivotal year in its ongoing development and also will be the year crypto investors get sophisticated with derivatives.<\/p>\n\n\n\n

5. Legal and Regulatory Developments<\/strong><\/p>\n\n\n\n

FTX’s bankruptcy plan, submitted by December 16, proposes returning up to 90% of creditors’ funds. Binance, despite a $2.7B CFTC settlement and a $150M penalty for its ex-CEO, saw a 30% user base growth. Globally, Belgium and the UK are advancing blockchain initiatives and regulations, with France registering Coinbase and Circle for crypto services. Argentina allows crypto in contracts, Indonesia focuses on youth blockchain education, and China commits to a Web3 strategy, promoting NFTs and innovative applications.<\/p>\n\n\n\n

6. Future Outlook and Strategic Directions<\/strong><\/p>\n\n\n\n

PwC report shows that more than 20 countries have passed comprehensive crypto regulatory frameworks over the past year and over 40 countries have taken aim at advancing crypto-focused regulations and legislation this year, signaling wider cryptocurrency adoption globally may be underway.<\/p>\n\n\n\n

7. Challenges and Triumphs in 2023<\/strong><\/p>\n\n\n\n

Crypto\u2019s 15th year in existence was one marred by scandal, bankruptcy, fraud and regulatory squabbling. It still may have been the industry\u2019s best year ever. In 2023, the cryptocurrency market overcame challenges, including unsuccessful projects and fraud, making significant strides toward widespread acceptance:  <\/p>\n\n\n\n

\u25c6 Bitcoin, the crypto\u2019s bellwether asset, is up 160% for the year.<\/p>\n\n\n\n

\u25c6 Two high-profile court cases came down in the industry\u2019s favor.<\/p>\n\n\n\n

\u25c6 And a long-awaited approval for a mainstream investment product is expected in January, potentially flooding the scene with new investors.<\/p>\n\n\n\n

 \u25c6 Like the rest of the financial world, digital assets got a boost from an improving macroeconomic picture in cooling inflation, a growing economy, and a long-awaited end in sight for the Fed\u2019s interest rate hikes.<\/p>\n\n\n\n

Dec. 30, 2023<\/p>\n","protected":false},"excerpt":{"rendered":"

Price of Bitcoin on Christmas Day \ud83c\udf84 2023: $43,254 2022: $16,849 2021: $50,888 2020: $23,760 2019: $7,266 2018: $4,021 2017: $14,302 2016: $894 2015: $456 2014: $318 2013: $669 Biweekly News Roundup 1. Global Market Overview The global crypto market cap is $1.69 trillion, up 112% over the last 12 months. Even as crypto stocks […]<\/p>\n","protected":false},"author":3,"featured_media":527,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[71],"tags":[180,8,105,17,43,182,169,179,181],"_links":{"self":[{"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/posts\/526"}],"collection":[{"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/comments?post=526"}],"version-history":[{"count":4,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/posts\/526\/revisions"}],"predecessor-version":[{"id":536,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/posts\/526\/revisions\/536"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/media\/527"}],"wp:attachment":[{"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/media?parent=526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/categories?post=526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/tags?post=526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}