December 11, 2020

Weekly News Digest: Bitcoin Optimism, Pornhub Shifted to Crypto and Banks Interests in Blockchain Currencies

Bitcoin “rolled back” to a position below $ 18,000, but predictions about the price are optimistic. A great future is predicted for cryptocurrencies; The Ethereum founder believes they will be easily convertible to national digital currencies. Some services have been successfully using money on the blockchain for several years, but now the most conservative companies (such as large banks) are realizing the potential of cryptocurrency.

Acceleration before a new level?

Last week, bitcoin took a new all-time high, but now a "rollback" has come: on Wednesday night, the price dropped to $ 18,000 and it is continuing to decline. But analysts see a great future for the first cryptocurrency. According to the Bloomberg study, price volatility about $ 19,000-20,000 is likely to continue for several months, but growth will continue. In future, reaching the $ 50,000 mark is not excluded.

Glassnode CTO Rafael Schulze-Kraft, based on analysis, suggested that the real goal of Bitcoin is above $ 200,000. The figure is obtained by multiplying the dynamics of the cryptocurrency price in the last three years by the current value.

Banks are making plans for cryptocurrency

On December 10, DBS Bank (the largest one in Singapore) announced the launch of its own cryptocurrency exchange. It is stated that it will work exclusively for institutional and accredited investors of DBS Bank. On the new platform, it will be possible to exchange Japanese yen and dollars (Singaporean, American, and Hong Kong) for BTC, ETH, XPR, and Bitcoin Cash.

Also this week, German bank Bankhaus von der Heydt (BVDH), in partnership with Bitbond, issued a stablecoin EURB (Euro guarantee) on the Stellar network.

And Vitalik Buterin, CEO of Ethereum, spoke publicly about the digital currencies of central banks. According to him, the new money will be easily converted into crypto assets.

Pornhub is forced to shift to cryptocurrency

A scandal continues around the popular adult site: the point is distributing content with minors. The largest payment systems, Visa and Master Card, refused to cooperate with the site. PayPal canceled to accept payments from PornHub back in 2019. That time Pornhub integrated payments to cryptocurrencies Verge, Horizen, and Tron. Tether stablecoins were added in January 2020, and bitcoins and Ethereum later. Now the owners of premium accounts, as well as models collaborating with the site, use payment systems on the blockchain.

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