Bloomberg explains some interesting mathematical correlations between Bitcoin and gold and says that Bitcoin price can cross $18,000 while Gold can also reach $3000 per ounce.

The Department of Economic Affairs (DEA) said that the inter-ministerial committee will examine the bill and move a cabinet note in due course.

The Medalla testnet will give an early assessment into how Ethereum 2.0 mainnet will behave with multiple clients.

An independent panel of financial industry leaders submitted a report stating the central banks can take inspiration from Ripple technologies while developing the own CBDCs.

The Bank of England has asked Accenture to build its new RTGS Payments network which also provides support for handling digital currency transactions in case the central bank launch its own CBDC.

Bitcoin had a price peak of $11,354 was reported this week, and its current price is of $11,160. Thus, an uptrend in the value of BTC and other cryptocurrencies was achieved this week, which also influenced the derivatives market as we will later see.

The Shelley mainnet bring new capabilities to the Cardano platform in terms of staking, DApps, smart contracts, and a new guided governance system.

Thailand is seeing a growing number of crypto businesses getting license from the regulators. The crypto businesses are categorized as crypto dealers, brokes, crypto exchanges, and ICO portals.

The People’s Bank of China have accelerated the testing of Digital Yuan as it collaborates with businesses across different industry sectors.

Bitcoin and Ethereum take the crypto markets higher as investors look keen on grabbing the two top cryptocurrencies.

Throughout the week, BTC’s highest value was of $9,667, thus there is still room for considerable growth before reaching and hopefully surpassing the $10,000 threshold.

Russia finally decided to gives cryptocurrencies a legal status and allows its citizens to buy and hold crypto for investment purpose. It adds that Russia’s central bank will monitor all the regulatory necessities involved.

After months of working out its tax rules, the South Korea finance ministry has come with revised tax rules that taxes crypto gains at 20% rate, just like the capital gains taxes.

National banks and financial institutions will now provide crypto custodial services to their customers by ensuring proper risk management practices.

With its digital currency MUFG Coin, the Japanese banking giant aims to offer a borderless shopping experience to all customers of its partnership firm Recruit Holdings.

The sudden surge in DeFi activity this year has resulted in the execution of several different transactions on the Ethereum blockchain network.

The Bank of Thailand said that it is pilot testing its CBDC with country’s different financial institutions and other big enterprises.

Over the last 7 days, cryptocurrency prices have faced a short decline, yet we are nowhere close to a bear market, as values are likely to increase once again. With this in mind, in the case of bitcoin, a price peak of $9,339 was reported this week.

In one of the biggest hacks in the tech industry, hackers managed to get access to the Twitter accounts of high-profile personalities and corporates which in turn asked to send Bitcoins to a particular wallet address.

The BoE Governor Andrew Bailey said that the central bank is actively thinking of accommodating a CBDC in the country’s financial framework.