Bitcoin exceeded $19,800, but then fell to $18,200

This Tuesday, Bitcoin surpassed USD 19,800. However, it made a correction soon after. BTC is currently trading at USD 18,600.

The main crypto currency in the market, Bitcoin exceeded USD 19,800, but soon after it fell, dropping to the nearly 18K mark. Currently, the crypto currency is quoted at USD 18,600 according to our online crypto tool.

Although yesterday there was a lot of celebration for the fact that The News Spy price exceeded the historical highs recorded by certain exchanges in December 2017, with this new peak seen a few hours ago. When Bitcoin surpassed $19,800, the digital currency reached a record high compared to the figures capitalized on by certain commercial services almost three years ago.

In addition to BTC, Ethereum also records a drop

Another currency that we are also monitoring today is the Ethereum (ETH), which by the time of writing is also going down after registering a significant peak this morning.

Ethereum trades at USD 587, registering a decreasing variation of -4.49% in the last 24 hours.
Beacon Chain and Ethereum 2.0

Now, an interesting aspect to highlight is that today the Genesis Block is launched for Ethereum 2.0. With this, Beacon Chain, better known as phase 0 for the roadmap of the new version of the network, is enabled.

Remember that the launch of Beacon Chain does not mean that the Ethereum 2.0 network is already operational. However, what is already working is the intelligent contract for staking with ETH funds. Where at the same time aspects such as passive earnings are being tested.

As with Bitcoin, many analysts are enthusiastic after this fall. They indicate that the project has good prospects for the future.

Qualifying what has been seen as a correction with the expectation that it will rise again in the next few days.
Coinbase executed the purchase of $425 million of BTC from MicroStrategy in September 2020

Coinbase, the largest U.S. crypt-currency exchange, announced that it facilitated one of BTC’s largest institutional purchases in 2020.

According to an official announcement, Coinbase was selected as the lead execution partner for the $425 million purchase of Bitcoin from MicroStrategy in September 2020.

Brett Tejpaul, Coinbase’s Head of Institutional Sales, provided further details on the purchase. As well as the company’s goal to facilitate institutional purchases in a December 1 blog post.

„Using our advanced execution capabilities, the leading prime crypto brokerage platform and OTC service, we were able to purchase a significant amount of Bitcoin on behalf of MicroStrategy and did so without moving the market,“ said Tejpaul.

According to the release, MicroStrategy chose Coinbase because the platform provides a number of market tools such as intelligent order routing and algorithmic trading tools.

Other news highlights…

Google searches for Bitcoin prices reach a maximum of 18 months.
The performance of the crypto market goes hand in hand with an increase seen in the gold market in the last 24 hours.
According to data published by the portal, the metal is trading at about USD 1,810 an ounce in the main markets, increasing more than USD 30 from the price seen yesterday.