Bitcoin resumed its decline on Thursday, the difficulty of mining BTC increased for the first time in the last two months.
Ark Invest has named a condition for a bitcoin rally. Mastercard considers cryptocurrencies as an asset class.
Bitcoin declined 3.5% on Thursday, ending the day at about $22,500. BTC resumed its decline amid the suspension of the growth of stock indices.
Bitcoin can show a rally over the next 12 months if it stays above the 200-week moving average (200-WMA), according to Ark Invest investment company. BTC has broken 200-WMA only 7 times in history. At the moment, the 200-WMA is around $22,800.
The annual return on the asset after the recovery from 200-WMA averaged about 240%. At the same time, Ark Invest admits that if the correction turns out to be as serious as in 2018, bitcoin may fall much below current levels.
The complexity of bitcoin mining as a result of the next recalculation increased by 1.74% — for the first time in the last two months.
In one of the largest payment systems in the world, Mastercard considers cryptocurrencies more as an asset class than a means of payment, due to their volatility. The Central Bank's stablecoins and digital currencies have much more chances to occupy this niche.
FTX CEO Sam Bankman-Fried praised the bill submitted to the US Congress, which gives the authority to regulate the crypto market — the Commission on Futures Exchange Trading (CFTC).
According to Peckshield, hackers withdrew $4.8 million from the ZB decentralized crypto exchange, which claimed to be the most secure in the world.
Chinese banks are gradually moving to the registration and issuance of loans to individuals and industrial enterprises in the state digital currency.