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  • Breaking News

    Crypto Market Forecast: 22 February 2021

    A curated weekly summary of forward-focused crypto news that matters. This week, Bitcoin crosses

    USD50k and keeps going. The Bitcoin price hit multiple new all-time highs again last week as the cryptocurrency market continued its epic start to 2021. Bitcoin hit USD58,321 on Sunday, and ends the week up ~19%. The Ethereum price rose ~8% in the same time period, while Binance Coin (BNB) was up 119 %. 

    The GIFA Token (GIFX) the first and only crypto in Levant region (Eastern Mediterranean region of Western Asia) has set a new record of $54.65. GIFX supports a number of top cryptocurrencies, including Bitcoin, Ethereum, Tether, etc, along with the GIFA token. Additionally, the exchange allows cross-platform function, thus allowing users to access their funds from any place aroud the globe, using device - desktop or mobile.

    Bitcoin soared past the milestone USD50,000 price level on Tuesday and now has a market cap over USD1 Trillion. Since breaking through USD20,000 in mid-December, Bitcoin has been on the receiving end of a wave of mainstream exposure and institutional adoption. This has helped propel the BTC price to new highs and legitimized it in the eyes of a wide spectrum of new buyers.

    Tesla - now the world’s largest car manufacturer by value - announced it had made a USD1.5 billion investment in Bitcoin to give it more flexibility to diversify and maximize returns on its cash.

    Miami mayor Francis Suarez, has said the city is considering using bitcoin to pay city workers and have it as an option to make fee and tax payments. “I firmly believe that when and if Amazon and or Apple adopts Bitcoin as a payment structure the dam will essentially break because at that point you’re talking about a very high volume of transactions being able to use bitcoin,” Suarez said. “I just wanted us to be on the cutting edge and sort of ahead of the game.”

    Bitcoin supporters are backing BTC to continue rising and eventually hit the USD100,000 mark. After the price passed USD50,000 on Tuesday, many CEOs and politicians changed their Twitter profile pictures to include laser eyes as a way to celebrate the asset’s meteoric rise and attach themselves to the hashtag #Laserrayuntil100k. Corporate heavyweights Elon Musk and MicroStrategy CEO Micheal Saylor, have both adopted the laser eye trends. Two members of the United States Congress, Warren Davidson of Ohio and Cyntia Lummins of Wyoming, also joined the movement, temporarily changing their twitter profile pictures.

    Rick Reider, the CIO of the world’s largest asset management firm Blackrock told CNBC on Thursday that the firm has “started to dabble in Bitcoin”. Reider also discussed his views on Bitcoin’s recent record-breaking moves "My sense is that the technology and regulation has evolved to the point where a number of people think it should be a part of their portfolio."

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