The cryptocurrency market took a turn for the worst on April 11 as concerns about growing inflation and the possibility of a number of more interest rate hikes by the US Federal Reserve surfaced. As the correlation with the Nasdaq 100 reaches a key milestone, the price of bitcoin could see a trend reversal. Analysts are optimistic about Bitcoin’s price rise and have set a target of $52,000 for the cryptocurrency.
LUNA price analysis for April 12, 2022, comes on a bearish note for the token as the chances of losing the $80 price region are quite high. The token made new all-time highs this year but had finally dropped below $100 as noted in our previous Terra analysis. On the other hand, TheCoinRise also noted in our LUNA price analysis for April 11, 2022, that the token had lost the $90 price level as major support. It seems that the crypto space is currently undergoing a major sell-off period and chances of new ATH are quite low.
Mark Zuckerberg, chief executive of Meta, revealed that the company is experimenting monetization for the Horizon Worlds virtual reality app in order to enable developers to generate income.
After a strong show in March and early April, the crypto market has come under severe pressure! Investors are keen to move their funds to risk-averse assets as inflation numbers are soaring high and the Fed is all set to tighten market liquidity with interest rate hikes.
Ghana is one of many countries considering, or already, taxing digital payments. Beginning next month, mobile transactions worth more than 100 cedis, or roughly $13, will be taxed at a rate of 1.5%. This could be a problem on so many levels.
Cryptocurrency trading volumes in India have plunged further across exchanges as traders mull over the 30% crypto taxation. In addition, popular payment service provider Mobikwik has stopped service to exchanges.
A review of its advertising guidelines is being proposed by the Irish Advertising agency, The Advertising Standards Authority of Ireland (ASAI) following the receipt of several complaints about the promotion and advertisements of “meme coin” Floki Inu.
Popular decentralized exchange (DEX) Uniswap has announced the formation of Uniswap Labs Ventures (ULV), a venture capital fund focused on investing in Web3 companies and projects.
David Rubenstein, the founder of Carlyle Group, one of the largest investment firms managing over $300 billion, says he was skeptical of crypto but now believes that “the genie is out of the bottle” and the crypto industry is not “going to go away anytime soon.”