After some decline last week, Bitcoin (BTC) failed to recover, so the price continued to fall. This week we mainly focused on Bitcoin, as well as the news related to the development of central bank digital currencies (CBDC) around the world. CoinsPaid Media has prepared for you a selection of the most significant news that happened from April 9 to 15. 

crypto news for crypto optimists

Bitcoin (BTC) Keeps Losing Value

Bitcoin has fallen in price by more than 7% over the past seven days, while in peak moments, the decline reached almost 10%. If last Friday, April 8, the first cryptocurrency was close to $44,000, then on Saturday, the price dropped to $42,000. The decline continued on Monday, closing at $39,500. The next two days, the price increased — the asset came close to $41,500. However, a correction happened by early Friday, and BTC quotes fell below $40,000 again. 

On Friday morning, April 15, Bitcoin was trading at around $40,000. Analysts don’t see any particular reason for the asset’s price growth in the near term. Meanwhile, there are enough reasons for a further decline. 

Why Is Bitcoin Price Falling?

The first thing is the expectation of the Fed meeting, which will be held on May 3-4. Previously, the agency’s representatives announced plans to raise the key rate again. A total of at least five more rate hikes in the US are expected in 2022. 

The rate increase is the government’s measure to control inflation, which keeps breaking records. The strongest geopolitical tension is one of the causes of economic instability. 

Domestic factors also impact the price, as Glassnode analysts say. First of all, we’re talking about profit taking by short-term investors amid subdued demand for BTC in general. 

How to Hedge Risks? 

Bank of America experts predict a 10% decline in stock markets by the end of the year and suggest hedging risks with cryptocurrencies. However, they note that given the current level of correlation between Bitcoin prices and the quotations of major market indexes, this strategy may not justify itself. 

Luna Redeems the Fall

The Luna Foundation Guard (LFG), which secures the TerraUSD (UST) algorithmic stablecoin, added $173 million to its BTC holdings last week, and its portfolio now includes nearly 39,890 BTC worth about $1.67 billion. 

Growth Prospects 

Analysts point out the capital accumulation in BTC in the range of $25,000-40,000. The longer the accumulation phase will last, the faster the price growth will be after its completion. If nothing disastrous happens, a change of trend to global upward can be expected by mid-2023.

Honduras Accepts BTC

Próspera (Honduras Próspera), a special economic zone in the country, accepted Bitcoin and other cryptocurrencies as legal tender within its jurisdiction. Próspera also eliminated the capital gains tax on cryptocurrency. 

The zone was established in 2020 to attract investment and has administrative, fiscal and budgetary autonomy. The innovation will allow local municipalities, governments and international companies to issue Bitcoin bonds. Investors will be able to invest their funds in full compliance with US legal and regulatory standards, receiving digital equivalents of securities — investment tokens of the Securitize platform. 


This past week, several countries at once signaled a willingness to take a closer look at the prospect of central bank digital currencies. 

  1. The Reserve Bank of Sweden (Riksbank) published a report on completing the second phase of CBDC pilot testing. The document says that the digital krona (e-krona) test in Sweden’s traditional banking system was successful, and developers are ready to start creating payment tools on its basis.
  2. The Central Bank of Iran is preparing to launch a pilot project on digital rial. According to announcements, this will be a wholesale CBDC, i.e. focused on financial institutions. 
  3. The Central Bank of Brazil plans to roll out a digital real pilot project in the second half of 2022. 
  4. The Fed is exploring options for issuing the digital dollar. The agency has voiced plans to conduct a series of studies and experiments to determine the potential risks and benefits of issuing a national digital currency. 

Therefore, the pace of CBDC implementation may be ahead of the most optimistic forecasts. 

Note that this is not all the crypto news over the past week, but only a cursory overview of the most high-profile newsbreaks. More updates can be found on our website and social networks daily!

Author: Mark Wallerstein
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