Members of the Píntag Amaru community close a trade with each other by using bitcoin as a currency. Among his plans are to connect with other communities through BTC.

Is Bitcoin (BTC) the best alternative to improve the economic situation of small communities with just a few resources in Latin America? After Bitcoin Beach, based in El Salvador, the situation got revealed as a possibility. Initiatives that point in this direction have begun to appear repeatedly in the region. Now, these initiatives arrive in Ecuador, led by businessman Mauricio Rubio.

The bitcoin began a matter of about six months ago, in the middle of the year 2021, an education and community organization project with bitcoin in a rural place located on the slopes of the Antisana volcano near Valencia, more than an hour and a half from Quito, the capital of the South American nation.

There are just less than one hundred families that belong to Píntag Amaru, which Rubio describes as an agroecological peasant community. These communities try to defend self-sustainability and reforestation.

Even before the irruption of bitcoin in their lives, these families were organized bodies working together in the community. These groups lead community jobs and projects that favor the well-being of all, including a savings fund, which is now in BTC.

Curiously, Rubio leads a podcast where he shared thoughts about bitcoin and cryptocurrencies. He said one day, a woman who works for him at home told him that she had heard an episode and her entire community had heard it too.

The Key is Education

The official has been in bitcoin since 2016. And although he got in badly (he fell into a pyramid scam), he was investigating more and learning about this tool that, according to him, offers freedom and many possibilities that would improve the way people live on earth.

The official also learned about the so-called Bitcoin Beach, a community project based in the beach area of El Zonte, El Salvador. The representative showed a lot of interest in what was happening in that region, and even before the Central American country approved bitcoin as legal tender, he went to see first-hand the experience of El Zonte. The experience served as inspiration for the creation of the Bitcoin Law.

In this educational effort, these communities are moving step by step. Among other subjects, Rubio highlighted that the project is getting promoted by himself only with the people in the community.

But even so, what started as a simple movement of the fiat money savings to bitcoin now includes the use of the Lightning network, and trade between community members is entirely in bitcoin. They still need fiat money once they get out of that little bitcoin bubble because, in the rest of the country, the use of cryptocurrency is still rare, and there are still certain things that need to get known.

By: Jenson Nuñez

Polavieja considers that volatility prevents Bitcoin from becoming a threat to fiat currencies. The specialists reflected on the adoption of the pioneering cryptocurrency in El Salvador.

The potential role of Bitcoin against States as people know them is one of the most heated discussions about bitcoin. The decentralized cryptocurrency and its network have changed the concept of money thanks to its independence from third parties.

The current conditions recently led economist Juan Ramón Rallo and computer engineer Manuel Polavieja to question that possibility.

The renowned Spanish analyst believes that the price of Bitcoin is very volatile right now, which could hardly be a threat to fiat money.

In that regard, they mentioned Libra, the stablecoin that Facebook released, which faced much regulatory resistance until they scrapped the original idea.

Polavieja commented that the primary difference between Tether (USDT) and Libra is that the former is a bank. Rallo recalled that the objective of Libra was to be a unit of account whose backing consisted of a basket of other currencies.

The computer scientist considers that Bitcoin would seriously threaten fiat currencies and States if it were a stablecoin. He said that people reacted against Facebook when it wanted to create its stablecoin as it was not entirely decentralized.

States Try to Control Bitcoin Through Tight Tax Regulations

The two Spanish Bitcoin analysts reflected on the potential for a 51% attack if States decide to join against the pioneering cryptocurrency. In that context, they would seek to control more than half of the mining power and reorganize the network.

However, Polavieja thinks that is an overrated risk since such an attack would not destroy Bitcoin. He explained that it would only disturb the operation of the network and would be too expensive.

The computer expert considers it much cheaper for a state to forbid or tax Bitcoin. In that regard, the specialist argued that the tax issue would force the network to pay too high costs.

The Experts Believe El Salvador Forces People to Accept Bitcoin

Rallo wondered whether it is contradictory for a State to adopt Bitcoin, which in theory can put institutions in check. He referred to the entry into force of the Bitcoin Law in El Salvador, which allows the cryptocurrency as legal tender.

Polavieja views it as positive that a State promotes or facilitates using Bitcoin, which he does not believe is the Salvadoran case. He thinks El Salvador is forcing citizens to accept the cryptocurrency, as it should be their own choice.

The computer scientist sees El Salvador as an experiment in which they intend to use Bitcoin as a means of payment. However, he considers that the use of the cryptocurrency is generating rejection among Salvadorans.

He said that he agrees with a State not taxing Bitcoin and making it easier for people to use it. However, he said that each person should use it of their own free will.

By Alexander Salazar

PlanB said that an 80% correction in the value of Bitcoin is not yet out of the question. The analyst believes the price would fall by another 80% if the S2F values reached USD 100,000 and USD 288,000.

PlanB, the creator of the Stock-to-Flow model, recently predicted that Bitcoin would experience another 80% crash in the next crypto winter. During that period, the market of the pioneering cryptocurrency will cool down and stabilize.

The crypto winter started in early and mid-2018 after Bitcoin dropped below USD 20,000 and remained between USD 6,000 and USD 3,000. The price stagnated due to the lack of new capital, causing the rest of the cryptocurrencies to repeat the pattern.

Bitcoin to Experience Another 80% Crash Next Crypto Winter

Curiously, many users follow the long-term predictions about Bitcoin (BTC) by renowned analysts like PlanB on their social networks. He highlighted some signs that indicate that Bitcoin will eventually enter the bearish territory.

He said he is among the few who think there will be a bearish market, as has happened a couple of times before.

He added that many people say the four-year cycle has ended, and there will no longer be volatility and deep bearish markets like these.

He thinks the prices of options suggest there will be bearish markets, as they are trading at 100% volatility. When the Chinese government banned Bitcoin mining, its value dropped by 50% or more. For that reason, the analyst considers that an 80% correction is not yet out of the question.

PlanB Predicts Bitcoin Prices Based on the S2F and S2FX Models

PlanB predicted that the next drop might occur after Bitcoin reaches the price targets of its S2F and S2FX models.

He believes the price must rise significantly to bring the S2F values to USD 100,000 and USD 288,000. However, he said that it would fall by 80% again due, in part, to the greed and fear in investors.

If the price reaches the USD 100,000 level, people will go into FOMO (fear of missing out) and increase. After that, there might be another ban from a leading country or an announcement by important regulators, among others. The analyst added that there will always be fear and greed concerning Bitcoin.

PlanB Considers that a Price of USD 100,000 Is Difficult to Reach

A few days before the end of 2021, the outlook for the prices of Bitcoin does not bring peace of mind to investors. Some prominent figures have predicted that 2022 may be a crypto winter.

The CEO of cryptocurrency exchange Kraken, Jesse Powell, said that a crypto winter might start.

Renowned cryptocurrency analyst, Michaël van de Poppe, considers that history repeats itself, and the same as previous years will happen. He foresees the market will bottom out in the remainder of December and early January.

PlanB finds the prediction of USD 100,000 objectively hard to fulfill this year. However, he agrees with several experts that suggest the price of Bitcoin will reach and exceed USD 100,000 within the coming year.

For instance, the CEO of CoinList, Graham Jenkin, forecast a price of USD 100,000 for February 2022. However, it is a matter of time before the pioneering cryptocurrency reaches and exceeds its previous all-time highs again.

By Alexander Salazar

Craig Wright wanted to exclude details about the recent litigation against Kleiman. The COPA organization claims that Craig Wright is not the author of the Bitcoin White Paper.

The High Court of England and Wales denied a motion to exclude evidence used with the sole intention of establishing that the Australian computer scientist Craig Wright is the sole author of the Bitcoin White Paper, known as Satoshi Nakamoto.

This hearing is the first one that began in April at the request of COPA, a non-profit organization created by Square, to remove legal barriers that impede the development of cryptocurrencies.

The organization sued Wright before the British Supreme Court and requested a declaration that the defendant is not the original author, nor is the copyright owner of the Bitcoin White Paper.

The document highlights that the defense of Craig Wright asked the judge in the case, Paul Matthews, to exclude from the trial any reference to the litigation against Kleiman, which took effect in a US court, and which had a recent resolution partially favorable for the Australian.

According to the defendant, the allegations presented in that trial are not vital to this case. These allegations must get crossed out since they will cause damage and an undue burden on the defendant.

However, Matthews, the Superior Judge expressed that these references must necessarily get debited to prove the defendant’s claim that he is Satoshi Nakamoto.

According to a Bitcoin Magazine investigation, in the Kleiman trial, two intermediate judges found out in Craig Wright a pattern filled with obstructive behavior.

These patterns included submitting incomplete or misleading allegations, submitting a false statement, knowingly producing a fraudulent trust document, and giving testimony at the evidentiary hearing.

Wright Won First Lawsuit over Bitcoin White Paper Last June

The British High Court decided in favor of Craig Wright in a trial that involved the Bitcoin White Paper. In this case, Wright acted as a plaintiff, intending to encourage the removal of the cryptocurrency whitepaper from the bitcoin.org website.

However, the ruling benefited Craig Wright on a technicality. As reported by various media outlets, the website administrator, known as Cøbra, refused to identify himself, an essential requirement to present an oral statement. Thus, the entity declared the “defiance” of the accused and ruled in favor of the self-proclaimed Satoshi Nakamoto.

Wright’s attorney, Simon Cohen, of the Enter firm, representing the plaintiffs in the case, sees the legislation’s ruling as an advance in Dr. Wright’s quest to gain a judicial vindication of his rights to the author in his White Paper.

On Twitter, where the COPA organization revealed the result of the first hearing in the current case, Wright’s lawyer, Calvin Ayre, responded that Judge Matthews’ decision does not represent a victory for the plaintiffs. Nevertheless, Ayre did not substantiate his claim.

By: Jenson Nuñez

The price of AVAX recently broke a downtrend line, for which it might resume the bullish trend in the medium/long term. Buyers will possibly control the market since there have been constant higher lows and highs in the medium-term.

While Bitcoin attempts to resume the bullish trend, the cryptocurrency Avalanche has already risen by 45% in the last week. The following analysis will help understand the behavior of AVAX and where it might head shortly.

AVAX is currently trading at around USD 120.51 and has accumulated a gain of 22.2% in the last week. Its daily trading volume is above USD 1.08 billion, and its market capitalization is about USD 29.30 million. It occupies 11^th place in the cryptocurrency ranking, just above Shiba Inu (SHIB) and Dogecoin (DOGE), according to CoinGecko.

Avalanche is a platform used for launching decentralized finance (DeFi) apps and various financial assets. AVAX is the native token of that network, and one of its functions is to serve as a reward system.

These Are the Factors Behind the Rally of the Price of AVAX

Positive catalysts have driven the price of AVAX to rise steadily, detaching itself from the broader market.

Last week, Avalanche added USDC to its protocol, which drove the price to increase by more than 10%. That started momentum that would extend much further.

After that, a report from Bank of America indicated that Avalanche was an excellent alternative to the Ethereum platform regarding the smart contracts segment.

Cryptocurrency custodian BitGo, which manages over USD 64 billion, integrated the AVAX token among its products on December 16^th.

The network has grown exponentially at the same time as those news reports news develop. Some graphs show that the total number of daily active addresses is more than 120,000.

The Technical Analysis of the Price of the AVAX Cryptocurrency

The daily AVAX/USDT chart indicates that the price recently broke a downtrend line. That may be heralding the resumption of the upward trend in the medium/long term.

The bulls will control the market in the short term. The value of AVAX made a very bullish candlestick, leading to the start of new momentum. The profits should extend further in the next few hours/days, but the price should first break through the resistance at USD 120.41.

The bulls will very likely drive the price of AVAX higher in an attempt to reach a new all-time high.

The Weekly Chart of the Behavior of the Cryptocurrency AVAX

From this time frame, it is also possible to see buyers in control of the market.

Constant higher lows and highs suggest that the medium-term trend is bullish, and the price currently seems to be resuming it.

Soon, the value of AVAX will most likely see higher profits.

However, analysts recommend not to rule out the possibility that a significant correction will occur soon. However, the price must break immediate support at USD 86.35 to think that will happen.

By Alexander Salazar