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Today’s Cryptocurrency Headline 

Brazil’s central bank plans to launch a pilot CBDC by 2022, according to Central Bank President Roberto Campos Neto. In addition, Brazil’s central bank is discussing a bill to regulate digital assets as investment vehicles. In September, the central bank told the Senate that it planned to launch the final version of the CBDC in 2024, based on projections by Fabio Araujo, an economic adviser. Fabio Araujo also said Brazil’s central bank will conduct preliminary tests in 2022. As of August, Brazilian citizens held around $40 billion worth of cryptocurrencies.

BingX’s Bitcoin Chart

Source: TradingView& BingX

The number of Bitcoin non-zero addresses hit a record high of 39,391,355 on November 21, data showed. BTC experienced an uptick in volatility over the weekend while testing the key support level at $57,000 and major resistance above $59,000. The current price action looks set to continue as the start of the US holiday is likely to reduce trading volumes across the market. Bitcoin moved up from $56,800 on the news that the Chairman of the Federal Reserve would be nominated for a second term. In the short term, BTC price is still not out of the downtrend channel unless the $60,000 pressure level is regained.

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