BitcoinBites: 5 BTC stories you should know – December 8th, 2021
Bitcoin hovers below $50K after weekend wipeout
Global market jitters spread to crypto at the weekend, with Bitcoin falling to $42K before bouncing to almost $50K.
Markets are digesting multiple uncertainties, including the many unknowns of the Omicron variant, and the possibility of an end to pandemic-era central bank stimulus. Combined with thin weekend trading volume and the build up of leverage, this led to cascading sell orders and liquidations across the crypto market on Saturday. Nevertheless, El Salvador’s President Nayib Bukele was not deterred and joined MicroStrategy in buying the dip.
Bitcoin's hashrate returns to all time high
That led to a fall of circa 75% from about 190 exahashes a second (EH/s) to a low of 58 EH/s on June 27th.
Since then however the hashrate has only seen up, with the bitcoin network once again now operating at 190 EH/s.
Bitcoin wales accumulated $3.4 billion in Bitcoin during market correction
It’s been just reported that Bitcoin whales are playing the market games flawlessly. They bought the Bitcoin dip during the market crash and the latest reports will probably shock you.
Santiment also posted the following message: “Tracking whale behavior is incredibly easy and profitable to do by following the leading indicators on @santimentfeed. Join as a PRO member today for a very affordable $44 a month, and instantly get hundreds of models to assist your trading.”
At the moment of writing this article, BTC is trading in the red and the king coin is priced at $49,269.
Jack Dorsey's Spiral releases demo on Bitcoin Lightning Development Kit
Spiral, a company created by Jack Dorsey, the former CEO of Twitter, has given a tutorial on the Bitcoin Lightning and the Lightning Development Kit (LDK) capabilities.
In a video published on December 7, the company stated that the LDK tool would be used by developers to plug their applications seamlessly into the network using mobile devices and Point of Sale terminals.
El Salvador's Bitcoin bond already booked at 30%
The announcement was made by the CSO of Blockstream, a company involved in El Salvador’s project related to the issuance of this bond.
The bond is called EBB1 (El Salvador Bitcoin Bond 1), and of the $1 billion budgeted, $300 million has already been booked.
In reality, these are only “verbal commitments”, but it seems that there are additional benefits for subscribers in order to encourage even more purchases.
According to Blockstream itself on its official blog, the bond has been months in the making and has the potential to accelerate hyperbitcoinization through a new financial system based on Bitcoin.
For the latest Bitcoin prices, check out NDAX's BTC Price page