Peter Schiff, the Chief Economist at Euro Pacific Capital, has been actively fostering Bitcoin (BTC), selling a narrative to his 869K Twitter followers. In a recent tweet, Schiff indicated that a new record had been set after Grayscale’s Bitcoin Trust (GBTC) traded its net asset value at a 46% discount. The prominent Bitcoin skeptic noted that something is “going on” with Bitcoin, adding that the world’s largest cryptocurrency seems to be in “real trouble.” 

While no one knows if El Salvador can hang on to its Bitcoin for five years through at least one inevitable recession, you have to agree it’s a bold move that could pay off.

Unchained Capital reduced its workforce by about 15% and moved its head of business development Parker Lewis to the board of directors as well as chief product officer Will Cole to a senior advisory role.

Bitcoin (BTC) inflows to largest exchange Binance just saw a giant spike reminiscent of the 2018 bear market capitulation.

Billionaire venture capitalist Tim Draper is convinced that Bitcoin will tap $250,000 in the first half of 2023, despite the ongoing crypto winter. Earlier this week, the businessman noted that not even the ongoing FTX crisis would stop the top cryptocurrency from achieving that target.

With investor confidence in cryptocurrencies ebbing as a result of the collapse of Sam Bankman-Fried’s FTX exchange, the total market capitalization of digital assets has fallen this month below $800 billion, a level not seen since early 2021, according to data from TradingView. 

The president of El Salvador, Nayib Bukele announced that El Salvador would start purchasing one bitcoin every day from Nov. 17. The announcement comes roughly three and a half months after the nation scooped up its last bitcoin in July 2022, buying 80 BTC at $19,000 per coin. El Salvador became the first country in the world to <a href="https://zycrypto.com/bitcoin-officially-becomes-legal-tender-in-el-salvador-country-secures-first-400-btc-purchase/">recognize bitcoin</a> as a legal tender in September 2021.&nbsp;

On Nov. 16, 2022, at Bitcoin block height 763,474, someone transferred 6,522 bitcoin worth roughly $107 million after the coins sat idle for more than five years.

Bitcoin (BTC) has recently experienced increased price volatility, with the asset breaching key levels to the downside. However, the maiden cryptocurrency’s depressed price has not reflected on other key metrics like trading volume.&nbsp;

Bitcoin tried its hand at overtaking $17,000 hours ago but was stopped once the UK inflation data came out.