New year is coming: BTC got an award, China continues to test digital yuan
The New year is coming, which means it’s time to sum it up. One of the ‘heroes’ of our today’s digest — the good old BTC — showed excellent results and rightfully earned the title of the best cryptocurrency of 2020 (and possibly a place on the honor board). But first things first, let’s start with BTC’s achievements.
Since the beginning of November, the fear & greed index of bitcoin, which reflects the mood of the digital market, has held at maximum levels in the ‘extreme greed’ zone. Previously, the index has not been able to gain a foothold at such high levels for such a long time. It is not surprising that investors were encouraged by the coin’s rally, since it grew by about 80% in two months and updated record highs in early December.
Meanwhile, Wells Fargo labelled BTC the best investment asset of this year. In terms of rally, bitcoin has outpaced such financial instruments as the S&P 500, stocks, bonds, and even gold. Since the beginning of 2020, BTC has strengthened by more than 170%, and compared to 2019, the currency’s price has increased by 90%.
Meanwhile, in China, the experiment with the digital yuan continues: the largest online trader JD.com has joined the project. Now you can pay with internal digital currency in the online store of the JD Digits retail network.
It’s worth mentioning that China plans to launch a digital yuan by 2022, when the Winter Olympic games will be held in Beijing. Earlier, the authorities of the city of Suzhou, together with the People’s Bank of China, announced a lottery and plan to give away a total of 20 million digital yuan (about $3 million).