Bitcoin started the week like an average Joe on Mondays. Losing more than 20% of its value to around the US$45k range from the ATH of over US$58k. Healthy correction, healthier time to buy. The drop could be unhealthy to some with Elon Musk losing his title as the world’s richest man, dropping all the way down to… 2nd… The current drop coincides with a rather big pullback on equities as well. Tesla was not spared with a 25% drop from its ATH. Musk getting doubled down.
To capitalize the dip, we need USDT, with Tether finally settling the ongoing legal battle, we can finally transact with confidence. Tether has to pay a fine of US$18.5m and be fully transparent with its reporting. Be unambiguous like blockchain. NFT’s are also making their mark with the ever increasing value of the tokens. An unknown investor has purchased 34 CryptoPunks NFT in a few minutes to the tune of 557.5 eth, or US$1m! Maybe that is why the buyers remain anonymous.
Hodl, yay or nay? Long term is the name, Hodl is the game. Invest wisely, avoid leverage and stay safe.
Elon Musk lost his crown as the world’s richest man after Tesla and Bitcoin slump
Tesla stock began to slide in late January, accelerating after the BTC purchase announcement.
Tesla CEO Elon Musk is no longer the world’s richest man after a sharp correction in Bitcoin (BTC) and a slump in his company’s stock that some analysts believe are correlated.
Tesla stock (TSLA) has dropped 21% from its high of $890 on January 26, accelerating those losses over the past two days in a fall to $698. Shares of the electric vehicle maker dipped as much as 13% on Tuesday, the stock’s worst day since early September 2020.
Tether to report reserves and pay $18.5M penalty after settlement with NYAG
New York City regulatory authorities are requiring Tether to be fully transparent about its books, at the expense of not serving New York City locals.
Bitfinex and also Tether settled with the New York Attorney general of the United States workplace in the landmark case against Tether. New York City authorities affirmed that Tether misstated the level to which Tether (USDT) coins were backed by fiat collateral.
Single Buyer Splurges $1M in Ether on CryptoPunk Digital Collectibles
The batch of 34 NFTs (known as CryptoPunks) was purchased by a whale who paid 557.5 ETH, or roughly $1 million in just minutes.
As stated by Larva Labs marketplace, 34 Punks were purchased on Sunday by an unknown investor, who bought the lot for 557.5 Eth – the native cryptocurrency of the ethereum network.
Bitcoin drop to $45K in sequel to 20% BTC price crash
A failed rebound above $50,000 looks to flip the level back to resistance as $47,000 becomes a new price focus.
It even spiked below the USD 45,000 support level. The USD 45,000 support holds the key in the short-term
Bitcoin then continued to be in loss on Feb. 23 as selling pressure took markets below $47,000 for the first time in over a week.
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