Hello there, and welcome to another Coinigy news roundup.
Okay, so we’re obviously not at that “every man and his dog is talking about crypto” point of the market cycle just yet.
But we may not be far off! Check this out...
In the past week:
- Google searches for “buy Bitcoin” have surged 800% worldwide.
- “Should I buy Bitcoin” searches increased by 250% in the US.
- “Can I buy Bitcoin on Fidelity?” increased in the US by over 3,100% (!)
- While “is it a good time to buy Bitcoin?” saw a 110% gain worldwide.
Now, we should mention:
We're yet to have a family member randomly text us, asking how to safely store Bitcoin, which is usually our 'canary in the coal mine' for big shifts in public interest regarding crypto...
In fact, this spike in interest could just be a one-off event, thanks to an isolated moment in the news cycle (looking at you, spot Bitcoin ETF rumors).
Either way - it ain't a bad sign!
Here are the highlights from last week
- How Bitcoin’s revival to $35K can affect its upcoming movement
- Bitcoin dominance hits 54%—Highest in 2.5 years
- Bank of Spain embraces ‘digital euro’
- Scammers create Blockworks clone site to drain crypto wallets
How Bitcoin’s revival to $35K can affect its upcoming movement
While Bitcoin price jumped, a correction to $33,000 could be likely. The sentiment around the market seems to have dampened but a new high could also be hit in a few weeks.
Bitcoin dominance hits 54% — Highest in 2.5 years
Bitcoin’s (BTC) market moves this week pushed the asset into fresh local highs as the world’s largest digital asset further cemented its lead against other major blue-chip cryptos.
The asset rose above $30,000 early Monday morning before driving higher, blowing past several resistance levels not seen since the collapse of Terra in May of last year.
Bank of Spain embraces ‘digital euro’
On October 19, the central bank issued a statement detailing the nature and uses of the European Union's Central Bank Digital Currency (CBDC). The Bank of Spain underscores that traditional physical currency is ill-suited to exploit the advantages presented by the increasing digitization of the economy.
Scammers create Blockworks clone site to drain crypto wallets
Phishing scammers have cloned the websites of crypto media outlet Blockworks and Ethereum blockchain scanner Etherscan to trick unsuspecting readers into connecting their wallets to a crypto drainer.
Other Highlights Worth Mentioning
- Ryder Ripps ordered to pay Yuga Labs $1.6M in copyright lawsuit - ARTnews
- Brazil’s USDT adoption soars in 2023, makes up 80% of all crypto transactions - Cointelegraph
- Bitcoin-Friendly El Salvador Can Become ‘Singapore of the Americas’ — Vaneck Adviser - Cointelegraph
- Sam Bankman-Fried Says He Wanted to Sell FTX to Binance Since It Was Founded - Decrypt
Coins to Watch