Latest Market News
Bitcoin saw a hefty 25% price drop over the past week of trading as the cryptocurrency crashed into the $43,200 level (.5 Fib Retracement). Fortunately, it has increased by 7% today after rebounding from the $43,200 level to reach near $48,000.
Bitcoin had seen a previous week in which the price of the asset was down around 15%. It has since recovered slightly today, rising by around 5%, but is still trading beneath the $50,000 level. It had dropped as low as $43,200 yesterday but found support at the .5 Fib Retracement and rebounded from there.
The MIT Digital Currency Initiative (DCI) has launched a new program that will focus on ensuring that the Bitcoin protocol remains robust in the face of possible risks. Dubbed the "Bitcoin Software and Security Effort", the program has so far received $4 million in donations from prominent cryptocurrency community members including Square and Twitter CEO Jack Dorsey, Gemini co-founders Cameron and Tyler Winklevoss, CoinShares CSO Meltem Demirors, and MicroStrategy CEO Michael Saylor. The program is targeting $8 million in funding.
Metaverse is a cost-efficient, user-friendly platform, that stands to become a home for disgruntled developers interested in low fees and scalability.
As we move into the third month of the year, a number of cryptocurrency projects are moving ahead with continued development, and this week’s choices are set to benefit from significant updates and announcements that should strengthen their market positions and benefit their communities. The news should also result in increased amounts of attention to each respective currency over the coming weeks.
The year 2021 has started out much like the same way 2020 ended for the majority of anonymous coins like Monero (XMR) and ZCash (ZEC). As centralized exchanges are delisting such coins, others that are not anonymous, like Dash (DASH), are being swept aside by the heavy hand of legislative pressure.
Bitcoin saw a substantial price drop today after it fell from above $58,300 and collapsed beneath $55,000. It was around a 5% price drop, which is quite healthy in the grand scheme of things considering how high Bitcoin has surged over the past few weeks.
As we move through the second month of the year, a number of cryptocurrency projects are moving ahead with continued development, and this week’s choices are set to benefit from significant updates and announcements that should strengthen their market positions and benefit their communities. The news should also result in increased amounts of attention to each respective currency over the coming weeks.
Bitcoin has reached a market capitalization of $1 trillion, a major milestone for the cryptocurrency as an asset class. The price of the world’s largest cryptocurrency set a new all-time high at about $54,200, further extending its rally. BTC gained 4.4% in the last 24 hours.
Popular online broker Robinhood says that it plans to add support for cryptocurrency withdrawals and deposits to its app. The company also didn't confirm whether it owns the largest Dogecoin wallet.
