The price of Bitcoin rose on Tuesday, after it was learned that the U.S. Congress approved a $900 million stimulus package.
Bitcoin’s price peaked above $23,500 on Dec. 22 when Monday’s weakness changed to see bullish players defy previous levels.
After falling to $21,800 on Monday, the markets set a different tone on Tuesday. The price of Bitcoin rose just over 5%. Adding $1,200 in just six hours.
The macro factors combined to support BTC’s request. With the US Congress passing a Coronavirus stimulus bill worth $908 billion.
„Another $900 billion announcement for Bitcoin,“ summarized Tyler Winklevoss, co-founder of the Gemini exchange, after the vote.
Hope in the Price of Bitcoin
The data from the purchase orders showed that the selling pressure at USD 24,000 and the definite resistance at USD 25,000 were maintained. This somewhat discouraged the prospects of a stronger rebound to new historical highs.
Right now, according to our online crypto tool Bitcoin is trading at USD 23,485. This is an increase of 2.80% at the time of writing. However, some analysts expect the price of Bitcoin to continue rising.
Ripple’s CEO warns that the SEC may sue the company for the sales of XRP
The U.S. Securities and Exchange Commission (SEC) intends to sue Ripple for the sale of XRP. CEO Brad Garlinghouse said Monday.
According to Fortune, the lawsuit will be filed in the near future, although a specific date has not yet been provided. Ripple’s co-founder, Chris Larsen, and Garlinghouse will be the defendants along with the firm. Garlinghouse said.
„This is an attack on the entire American cryptography and innovation industry,“ Brad Garlinghouse said in an e-mail statement.
Huobi plans to return to the U.S. after ceasing operations in 2019
Huobi Group, the company behind the large Huobi cryptoexchange, is apparently planning to return to the United States with a new license obtained from local regulators.
After ceasing operations in the United States at the end of 2019, Huobi appears to be interested in opening a trust company in the country.
According to a December 22 announcement by Huobi Technology Holdings, Huobi Trust, incorporated in Nevada, has received a trust company license from the Financial Institutions Division of the Nevada Department of Business and Industry.
Lan Jianzhong, CEO of Huobi, noted that Huobi Trust has not yet begun providing any related fiduciary services. „Shareholders and potential investors are advised to exercise caution when trading in the company’s shares,“ Jianzhong wrote in the announcement.
Bitcoin and crypto mining company Riot Blockchain buys 15,000 Bitmain Antminers
Riot Blockchain, a Nasdaq-listed crypto-mining company, has closed another deal with Chinese mining giant Bitmain to buy 15,000 Antminers.
According to a December 21 announcement, the Colorado-based company expects the new purchase to contribute a 65 percent increase in its total hash rate in Bitcoin mining.
The purchase cost Riot USD 35 million, comprising 3,000 S19 Pro Antminers and 12,000 S19j Pro Antminers. The company expects to receive and deploy the new miners from May 2021 until October 2021.
With the latest purchase, Riot further expands its total Bitmain mining equipment. Since the company has been receiving and regularly deploying new miners in 2020.
With the full deployment of more than 37,000 miners, Riot estimates that its total operational hash rate will increase from 2.3 EH/s to 3.8 EH/s, consuming about 120 megawatts of power.