In a new episode of the cryptocurrency recap of the week: The doji candle, formed on the weekly interval, could indicate uncertainty about further increases on the main cryptocurrency. However, the correction of BTC did not last long, in the last 48 hours we have a dynamic rebound of the price, which, after exceeding 50% of the correction span, gives us an upward impulse. The strong upward momentum informs us about the high probability of the possibility of exceeding $20,000 on bitcoin later this week. The next levels after crossing this psychological, already important barrier on bitcoin could be charted using the Fibonacci expansion tool. More in the video attached to the article. After failing to get SEC approval in 2019, investment management firm VanEck is finally getting the green light to bring bitcoin ETPs to market. Instead of acting as a separate fund, the ETN is essentially a debt instrument that tracks the cryptocurrency. The ETN will be 100% backed by physical bitcoin and will offer investors direct exposure to the bitcoin market. The long-awaited upgrade of Ethereum to version 2.0 is confirmed and will take place on December 1, 2020. The Ethereum 2.0 escrow contract gives news that enough ETH tokens have already been staked. Everything promises that the second largest blockchain is on track to change its consensus mechanism from proof-of-work (PoW) to proof-of-stake (PoS). The "biggest" ones are also joining in support of the project initiative, with the top 10 validators locking in nearly 180,000 ETH in the contract. The Ethereum price reacted positively and crossed the $600 level. The market capitalization of Tether (USDT), a stablecoin anchored in US dollars, has risen at a near-record pace in recent weeks. Inquisitive analysts argue that these capitalization gains have directly contributed to the initiation of the cryptocurrency bull market. The question that arises is whether all the units held by Tether Treasury are backed by the U.S. dollar and whether they were issued out of thin air. Tether has a market capitalization of nearly $19 billion already. Libra plans to release stablecoin anchored to the U.S. dollar in January 2021 after FINMA approval. Libra's digital currency, however, will be modified in terms of functioning with respect to the one presented to regulators later in 2019. The initial idea to launch the project was to create a digital currency system based on a basket of national fiat currencies. However, in the face of disapproval from regulators, the project will most likely be covered only by the US dollar. According to sources, the other planned stablecoins in Libra's catalog of digital currencies will appear at a later date. Tags coinquista cqx crypto market news
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