{"id":4566,"date":"2023-12-18T09:39:48","date_gmt":"2023-12-18T09:39:48","guid":{"rendered":"https:\/\/ceo.com.pl\/en\/?p=4566"},"modified":"2023-12-18T11:41:31","modified_gmt":"2023-12-18T11:41:31","slug":"cryptocurrencies-in-a-downward-trend-51710","status":"publish","type":"post","link":"https:\/\/ceo.com.pl\/en\/cryptocurrencies-in-a-downward-trend-51710\/","title":{"rendered":"Cryptocurrencies in a downward trend"},"content":{"rendered":"<p>Last week, Bitcoin failed to regain momentum and declined to about $40,000. The value of cryptocurrencies fell by almost 6 percent week-over-week as investors look for more approvals of Bitcoin ETFs &#8211; probably no longer believing it will occur as yet in 2023.<\/p>\n<p>Bitcoin started last week above $43,000 but fell within a week and is currently listed on eToro just below $40,700.<\/p>\n<p>Meanwhile, ETC declined by over 7 percent last week, starting last Monday above $2300, then dropping within a week and currently listed at about $2150.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/ceo.com.pl\/en\/cryptocurrencies-in-a-downward-trend-51710\/#The_Upcoming_Week\" >The Upcoming Week<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/ceo.com.pl\/en\/cryptocurrencies-in-a-downward-trend-51710\/#Bitcoin_Fees_At_Highest_Levels_in_20_Months\" >Bitcoin Fees At Highest Levels in 20 Months<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/ceo.com.pl\/en\/cryptocurrencies-in-a-downward-trend-51710\/#BlackRocks_Bitcoin_Spot_ETF_Opens_Doors_for_Wall_Street\" >BlackRock&#8217;s Bitcoin Spot ETF Opens Doors for Wall Street<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/ceo.com.pl\/en\/cryptocurrencies-in-a-downward-trend-51710\/#UK_Lawmakers_Accused_of_Lack_of_Knowledge\" >UK Lawmakers Accused of Lack of Knowledge<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"The_Upcoming_Week\"><\/span>The Upcoming Week<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the week preceding Christmas, trading on the investment market and therefore, the cryptocurrency market will likely weaken in volume as investors take a break ahead of the holidays.<\/p>\n<p>There are few current events that might impact global cryptocurrency markets. Japan&#8217;s last monetary policy decision will be made on Tuesday, while the UK&#8217;s Office for National Statistics (ONS) will publish inflation data on Wednesday.<\/p>\n<p>A higher-than-expected inflation reading might cool British markets due to expectations of bank interest rates, but it&#8217;s largely a side effect compared to the entire cryptocurrency market.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Bitcoin_Fees_At_Highest_Levels_in_20_Months\"><\/span>Bitcoin Fees At Highest Levels in 20 Months<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Bitcoin transaction fees are at their highest in 20 months, with the average transaction costing about $40 according to BitInfoCharts data. The recent surge in transaction costs comes from a new push from Bitcoin Ordinals inscription. Fees are at their highest level since April 2021.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"BlackRocks_Bitcoin_Spot_ETF_Opens_Doors_for_Wall_Street\"><\/span>BlackRock&#8217;s Bitcoin Spot ETF Opens Doors for Wall Street<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Wall Street banks could still play a role in BlackRock&#8217;s Bitcoin spot ETF, despite restrictions on them for holding cryptocurrencies. BlackRock has enhanced its mechanics meaning authorized participants can create new shares in funds for cash, not exclusively for cryptocurrencies. This would open the doors to those banks that can&#8217;t hold cryptocurrencies but can act as authorized participants, thereby gaining exposure.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"UK_Lawmakers_Accused_of_Lack_of_Knowledge\"><\/span>UK Lawmakers Accused of Lack of Knowledge<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The industry association CryptoUK has suggested that UK lawmakers lack knowledge about DeFi and blockchain, with only 5 percent of members of parliament openly discussing these topics in public debate. In its 2023 analysis, the association showed that only 37 MPs discussed cryptocurrencies, despite Prime Minister Rishi Sunak&#8217;s desire to make the UK a cryptocurrency hub.<\/p>\n<p>Simon Peters, Cryptocurrency Analyst at eToro.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last week, Bitcoin failed to regain momentum and declined to about $40,000. The value of cryptocurrencies fell by almost 6 percent week-over-week as investors look for more approvals of Bitcoin ETFs &#8211; probably no longer believing it will occur as yet in 2023. Bitcoin started last week above $43,000 but fell within a week and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2803,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[14],"tags":[3493,4427,3155,2482,2754,3198,3497,3374],"class_list":["post-4566","post","type-post","status-publish","format-standard","has-post-thumbnail","category-investing","tag-bitcoin","tag-blackrock","tag-blockchain","tag-etoro","tag-play","tag-rishi-sunak","tag-simon-peters","tag-wall-street"],"jetpack_publicize_connections":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/posts\/4566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/comments?post=4566"}],"version-history":[{"count":0,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/posts\/4566\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/media\/2803"}],"wp:attachment":[{"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/media?parent=4566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/categories?post=4566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/tags?post=4566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}