News updates December 04, 2021

04 Dec, 2021 10:52 am
  1. China Evergrande Group just defaulted on their foreign debt today. They are considered too big to fail and this event may be a warning sign of an upcoming Chinese recession.
  2. The crash has been triggered by a risk-off sentiment that has swept global markets in the wake of the emergence of the new COVID-19 variant and the sudden pivot towards hawkishness by the US Federal Reserve Chairman Jerome Powell.

  3. Billionaire Investor Charlie Munger Thinks China Was Right to Ban Bitcoin

    Charlie Munger, the vice chairman of Warren Buffett-owned investment conglomerate Berkshire Hathaway, believes China made the correct decision in banning bitcoin.

  4. Bitcoin and ether prices drop sharply, falling more than 10%

    Bitcoin prices dropped sharply Saturday early morning hours ET, plunging more than 10% to a low near $43,000.

    The price of ether dived as well. It was down more than 10% to a low close to $3,500.

    The world’s most prominent cryptocurrency pared losses subsequently, changing hands at around $47,133. Still, bitcoin has dropped more than 16% in the past 24 hours.

  5. The 2021 China crypto ban actually has delayed enforcement. The China exchanges (Binance, Huobi, OkEx) all have until this month (Dec) to fully de-register their Chinese clients & force withdraw coins. Once done this could be the ultimate catalyst for upward $BTC price movement!

  6. Bitcoin could 'consolidate until 2022' after mass wipeout sends BTC price to $41K

    $2.5 billion liquidated across cryptocurrency in a mass rout which sends Bitcoin price action back to the end of September.

    Bitcoin (BTC) traded near $47,000 on Dec. 4 after a sudden crash confirmed bulls' worst nightmares with 22% daily losses.

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