Maybe the short-time correction for Crypto is over

The cryptocurrency market added 0.75% to 976 billion in the past 2 hours, and Bitcoin rose by the same amount to retest $21,000. The former cryptocurrency corrected to a 76. percent rally from its December low to this week’s high. It cannot be ruled out that this is the end of the shake-up. Such low pullbacks are normal in strong bull markets in stocks or other assets. btc, Bitcoin Confirmation that Bitcoin is back on an uptrend in the crypto market with a recent high of $21.6000, paving the way for the $2 .6000 161.8% Fibonacci, where the 200 week moving average will also pass . News Background crypto lending platform Genesis Global Capital, a member of the Digital Currency Group (DCG), is preparing to declare bankruptcy. According to sources familiar with Bloomberg, the company will do so in the coming days as Genesis’ debt level rises to $3 billion. Genesis’ problems stemmed from the failure of hedge fund Three Arrows Capital in June, compounded by the collapse of FTX. DCG is considering selling its subsidiary CoinDesk. Anatoly Legkodymov, founder of the cryptocurrency exchange platform Bitzlato, was arrested by the US Department of Justice on charges of laundering $700 million linked to the closed darknet marketplace Hydra. Banking group National Australia Bank (NAB) has announced plans to launch an Australian dollar-linked AUDN stablecoin with a full guarantee. AUDN will be launched on Ethereum and Algorand in the middle of the year. The Spanish central bank, in collaboration with the fintech company Monei, is testing a stablecoin linked to the euro, EURM, over the next 6-12 months.

James Rogers

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