Cryptocurrency Summary

Bitcoin has seen significant fluctuations recently, with prices dropping below 88,000 dollars after a brief rally that peaked near 90,000 dollars. Analysts are speculating whether a potential flush to 70,000 dollars could reset the market cycle without confirming a new bear market, as noted by various sources.

Meanwhile, Ethereum is expected to become faster as a gas limit increase to 80 million is anticipated in January. In exchange developments, Coinbase is expanding its services beyond cryptocurrency to include stock trading and prediction markets, increasing competition with platforms like Robinhood.

Notably, Bitcoin miner Hut 8 has secured a seven billion dollar lease for a Google-backed AI data center, marking a significant move in the intersection of cryptocurrency and technology. Amidst this, the Marshall Islands have launched the world’s first universal basic income scheme that offers cryptocurrency, highlighting innovative approaches to economic support.