In the summary of the highlights of the week in Bitcoin and crypto we observe how the price of the main cryptocurrency in the market could reach USD 98,000 in November as predicted by PlanB. Recall that it is among the most popular analysts in the cryptocurrency community.
The PlanB model foresees for BTC to take advantage of six-digit price territory by the end of the year. With the most optimistic prediction at $ 288,000 in the next 60 days. However, its worst case scenario, which is not based on the S2F model, is more modest. He also sees BTC above $ 100,000 by the end of 2021, but the December target is $ 135,000. While that of November is USD 98,000.
Square to launch decentralized crypto exchange on Bitcoin: tbDEX
Jack Dorsey, co-founder and CEO of Square and Twitter, published a white paper on Friday detailing plans for Square’s decentralized Bitcoin (BTC) exchange, tbDEX.
Unlike most decentralized exchanges, or DEX, tbDEX will not use a trustless model. And therefore it will not have its own governance token. Rather, it is a message protocol designed to facilitate trust relationships without relying on a federation to control access.
Cryptocurrencies could destabilize countries and weaken the dollar as a store of value, according to Hillary Clinton
Former US Secretary of State and Democratic presidential candidate Hillary Clinton called out against cryptocurrencies on Friday and alerted states to monitor their growth.
Clinton’s comments come in the wake of the controversial cryptocurrency tax reporting requirement included in the bipartisan $ 1 trillion infrastructure bill that US President Joe Biden signed off on Monday.
According to the bill, from 2023 exchanges will have to disclose to the Internal Revenue Service (IRS) the names, addresses, phone numbers, profits and losses of customers. Entities receiving cryptocurrency payments worth more than $ 10,000 will have to reveal the identity of the sender to the government.
Fidelity received approval to become Canada’s first institutional custodian of Bitcoin
Fidelity Clearing Canada will become the first Bitcoin trading and custody platform designed for institutions, following regulatory approval from the Investment Industry Regulatory Organization in the country. The move comes as the company declared that the demand for investment in cryptocurrencies had grown considerably.
Fidelity also submitted an application to launch two Bitcoin funds in Canada, a BTC exchange-traded fund (ETF) and a mutual fund tied to the leading cryptocurrency. The future ETF would use the custody services of the company.
Week of talks at laBITconf 2021
Throughout the week the ninth edition of the BITCconf 2021 was held in El Salvador. A week full of a lot of educational and interesting content offered by specialists within the crypto ecosystem.
From CriptoTendencia, coverage was made of some important presentations about the development of this event. Expand these and other news by clicking here.