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BREAKING NEWS: US inflation rises to 3.4%. Read the details here. $BTC $ETH

#BTC in 47,000 GO GO GO!!!! ¡A LOS 50mil $ Y MÁS ALLÁ...🚀!

#BTC in 47,000 GO GO GO!!!! TO 50K AND BEYOND!!!!

📊PRECIOS CRIPTO HOY #18OCTUBRE 2023

🟡#Bitcoin: 28.376,11 USD.
🟡#ETH: 1.576,90 USD.
🟡#LTC: 61,38 USD.

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Hyperinflation has positioned Venezuela as an ideal setting for the widespread adoption of cryptocurrencies. However, a new report from Chainalysis shows that the country ranks fifth in terms of total cryptocurrency value received in the Latin American region, and it is not even in the top 20 in the world.

The main reason is that Venezuelans are more interested in the global reserve currency, the US dollar.

Javier Bastardo, organizer of Satoshi in Venezuela, the country's largest grassroots Bitcoin group, and Bitfinex's Bitcoin ambassador in Latin America, told Decrypt that "people want access to dollars."

Kevin Hernández, founder of the Venezuelan media outlet Criptodemia, also said that Venezuelans "don't want cryptocurrencies per se," but rather are looking for access to dollars.

However, Bastardo and Hernández hinted that this is a "half-truth." They agreed that cryptocurrencies are an alternative to an economy controlled with an iron fist, but their use by the population is less.
Latin America is dominated by centralized exchanges.
In Latin America, more than 60% of people use centralized exchanges, compared to an average of 48% worldwide.
Cryptocurrency adoption in Venezuela is lower than might be expected, given the country's hyperinflation. The reality is that Venezuelans are more interested in the global reserve currency, the US dollar.

⏬Bitcoin falls after CPI report, but analysts expect the Fed not to raise ratesBitcoin and the cryptocurrency market in general experienced a drop after the publication of the latest US Consumer Price Index (CPI) report. , which indicated a slowdown in inflation.
The Bureau of Labor Statistics (BLS) recorded a 0.4% increase in the CPI last month, primarily in the shelter segment, compared to a 0.6% increase in August. However, the CPI remained at 3.7%, above the 3.6% expected.
Bitcoin saw a 1.3% drop following the release of the CPI figures, and is currently trading at $26,787. Ethereum, the second largest cryptocurrency, fell as much as 2.9% and is now trading at $1,541.
Analysts suggest that the market is adjusting to the expectation of sustained inflation and anticipate that the Federal Reserve will not raise rates at the next FOMC meeting. According to FedWatch, the odds of no rate changes are 90.2%.$BTC $ETH

Buenos Aires is launching an ambitious blockchain integration program to provide people with digital access to identity documents. Citizens will be able to store birth certificates, marriage records, proof of income, and academic transcripts in digital wallets powered by Extrimian's QuarkID protocol starting in October.
The system is intended to be a public good that provides safer and more efficient government services. Citizens will be able to autonomously control their credentials, allowing them to access government services without having to carry physical documents with them.
The project, according to the Secretary of Innovation of Buenos Aires, Diego Fernández, establishes the Argentine capital as one of the first cities in the world to use distributed accounting technology for the benefit of its citizens. Guillermo Villanueva, CEO of Extrimian, praised the "monumental step" towards a more secure and efficient future in Latin America.$BTC $XRP

The King of Devs cryptohackathon, which will take place from October 24 to 26 in Caracas, Venezuela, is a unique opportunity for Venezuelan developers to participate in an international event and contribute to the growth of the crypto ecosystem in the region.
The event, which is part of the Caracas Blockchain Week, will have a wide agenda of activities, including conferences, workshops, panels and social events. The King of Devs cryptohackathon is an opportunity for Venezuelan developers to work on innovative projects using blockchain technology.
The event will take place at the Financial Technology facilities, Caracas-Venezuela, a leading space in technological education in the country.
Caracas Blockchain Week is an event of great importance for the crypto ecosystem of Venezuela and the region. The event will take place from October 22 to 28
What is King of Devs?
King of Devs is a web3 hackathon created by the Think&Dev team to connect technologies with builders (developers) of all profiles, providing a space for the presentation and development of projects that can become the startups of the future.
Since its first edition held in December 2022 in Buenos Aires (Argentina), the King of Devs event has grown exponentially since that moment, first in Argentina, and now, throughout Latin America, eventually having venues in Brazil and Uruguay.
For the first time in history, the event will arrive in Venezuela within the framework of the Caracas Blockchain Week.
Registrations
All builders (developers) from Venezuela and from any part of the world who wish to join this hackathon will have to apply in the registration process through the event website.
CryptoNoticiasVe will be bringing you all the information generated in this important Web3 event. Pay attention to our social networks and our website.

The Bitcoin halving, an event that occurs every four years in which the reward for mining a Bitcoin block is cut in half, is just 200 days away. Historically, the halving has been followed by an increase in the price of Bitcoin, making it a potential investment opportunity.

A historical pattern repeats itself

An analyst known as "thescalpingpro" has noted that Bitcoin has fallen 60% from its 2021 all-time highs. This formation, the analyst says, appears to replicate the same pattern before Bitcoin's halving in 2019. At that time , the currency also fell 60% from its all-time highs.

Halving reduces supply

Each halving occurs because the reward for mining a Bitcoin block is halved. This means that there are fewer coins available on the market, which can lead to increased prices.

The halving impulse

In addition to reducing supply, the halving can also generate bullish momentum in the market. This is because investors can expect the price of Bitcoin to rise after the event.
A rebound to USD 48,000
Another analyst believes Bitcoin could rise to $48,000 before the halving occurs. This analyst relies on the support and resistance levels formed by the Fibonacci retracement levels.
The Bitcoin halving is a major event that can have a significant impact on the price of the coin. Historically, the halving has been followed by an increase in the price of Bitcoin. Therefore, the halving could be a potential investment opportunity for investors seeking exposure to the digital currency.