Bitcoin Price Prediction: Brazil’s New Crypto Law Takes Effect – Bullish! | 22/12/22

There is hardly any movement in the digital currency market today. As of this writing, the broad market is up exactly 0.06%, bringing the global crypto market cap to $809 billion. Thus, Bitcoin is moving almost in line with the overall market and remains in a tight trading range around $16,839.

Should you invest in Bitcoin now or should you rather buy the FightOut coin due to the less dynamic development, whose pre-sale is currently generating strong momentum?

That FightOut

Nevertheless, there is also positive news about Bitcoin. Because “The Block” reported today that Brazil’s crypto law will take effect at midnight.

Trade bitcoin now for free

Bitcoin rate today: Little movement in BTC before Christmas

Bitcoin is currently up about 0.1 percent. In the last 24 hours, BTC has traded between $16,750 and $16,888, which is currently hovering at the upper limit of the sideways range. A total of about $15 billion Bitcoin was traded in 24 hours. The market capitalization is currently around $325 billion and the market dominance reaches 40% according to data from CoinMarketCap.

Brazil’s crypto law takes effect at midnight

Bullish news is coming from crypto adoption. Because according to information from “The Block”, the new crypto law will be implemented in Brazil at midnight today. Back in November, the Brazilian legislature approved an innovative set of regulations for digital currencies in the South American country. Therefore, Bitcoin can be used as a means of payment and digital investment in the future. Supervision is carried out by the Brazilian Central Bank (BCB) and the Securities and Exchange Commission. With the new legislative framework, the legislator wanted to ensure more legal certainty when dealing with cryptos, especially after the FTX crash.

In fact, such laws require presidential approval. Jair Bolsonaro will remain in office until December 31. However, even a lack of veto is considered approval. It seems unlikely that Bolsonaro will use his veto any longer, so the crypto law will automatically become law when the deadline set for it expires at midnight.

Crypto adoption continues: Brazil, El Salvador, Nigeria, Russia and many more

Brazil’s crypto law is the next step towards widespread adoption of digital currencies, paved by an open regulatory framework.

After El Salvador had already introduced bitcoin as legal tender and wanted to buy one bitcoin every day in a bear market, President Nayib Bukele recently brought a law to Congress regarding the so-called “Volanco Bonds”, which are said to be backed by Bitcoin.

Now Nigeria, as the most populous country in Africa, also wants to legalize Bitcoin next year to support its own CBDC. However, while 10% of Nigerians are already investing in Bitcoin, the adoption of eNaira is understandably low (around 0.5%).

Revolutionary Move2Earn cryptocurrency FightOut as an alternative

One could use the relatively cheap prices of the current bear market to accumulate Bitcoin. Nevertheless, many investors are also looking for above-average returns in the short term. It is still unclear when the current market cycle will end and the next Bitcoin bull run will begin. Therefore, you could take a look at a crypto presale with 10x potential – the new move-to-earn cryptocurrency FightOut.

Move 2 Serve

FightOut is a new cryptocurrency that wants to connect Web3 with the health and sports megatrend. To do this, they rely on the development of a Web3 application that provides access to their own fitness metaverse. In this, the athletes will move with digital, personal avatars to participate in competitions, make contacts and earn rewards.

Atypical for a Move2Earn cryptocurrency, however, the claim goes further – because FightOut wants to open a first fitness studio during the coming year, which will be equipped with sensors for targeted tracking of training. Those who buy FightOut tokens in the presale not only receive a bonus of up to 50%, but also become part of a passionate fitness movement.

Buy FightOut now in pre-sale

“Investing is speculative. When you invest, your capital is at risk. This website is not intended for use in any jurisdiction where the trade or investment described is prohibited and should only be used by persons and in ways permitted by law. Your investment may not be eligible for investor protection in your country or country of residence. So do your own due diligence. This site is available to you for free, but we may receive commissions from the companies we feature on this site.”

Leave a Comment