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This week in Crypto...

April 12, 2021
Bitcoin dropped to test support at the $56,000 area this week, quickly rebounding, but liquidating over $1B of leverage longs in the process. In the meantime, the adoption of crypto continued to increase, especially from institutional parties.

This week in Crypto... 

 Monday: 

 Bank of Japan confirmed the start of the first phase of the central bank’s digital currency trials.  

 The Crypto market cap topped $2 trillion for the first time, and only months after it broke $1 trillion. 

 
Tuesday: 

 According to JP Morgan, Bitcoin is gaining increased institutional adoption due to the recent decrease in volatility. 

 
Wednesday: 

 Tesla CEO Elon Musk might start paying rent to real estate firm Caruso Properties in Bitcoin. 

 

Thursday:
 Massive Tether stablecoin deposits were recorded across major Bitcoin exchanges, indicating an interest to buy Bitcoin at its pullback.  

 

Friday: 

 China could use Bitcoin to undermine the power of the US Dollaraccording to billionaire tech investor Peter Thiel. 

 Tom Jessop, head of digital assets at Fidelity, says that Bitcoin adoption will continue “at an accelerated pace”, noting that “we’ve reached a tipping point”. 

 

Saturday:  

New York Digital Investment Group (NYDIG) is creating Bitcoin-powered products and services for the $6 trillion global insurance industry. 
 

Sunday:  

Bitcoin price shot past $60,000 as Ethereum hit new all-time high. 

 

 

For more information on these stories, visit:  

Japan: https://cryptodaily.co.uk/2021/04/Bank-Of-Japan-Commences-One-Year-Digital-Yen-Trial  

Marketcaphttps://www.cnbc.com/2021/04/06/cryptocurrency-market-cap-tops-2-trillion-for-the-first-time.html  

Bitcoin: https://news.bitcoin.com/jp-morgan-bitcoin-decreasing-volatility-appealing-institutions-btc-price-prediction-130k 

Tesla: https://coinnounce.com/teslas-landlord-to-accept-bitcoin-after-a-partnership-with-gemini/ 

Tether: https://cointelegraph.com/news/bitcoin-exchanges-just-saw-massive-tether-stablecoin-deposits 

China: https://www.scmp.com/tech/tech-war/article/3128755/peter-thiel-calls-bitcoin-chinese-financial-weapon-and-suggests-us  

Fidelity: https://news.bitcoin.com/fidelity-bitcoin-adoption-accelerating-reached-tipping-point/  

NYDIG: https://news.bitcoin.com/nydig-bitcoin-6-trillion-insurance-industry-starr-liberty-mutual-new-york-life 

$60k: https://www.coindesk.com/bitcoin-price-shoots-past-60k-in-early-saturday-trading   

 

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