It was a very positive week for the whole cryptocurrency market. After a long period of falling prices, the market finally rebounded and managed to recover the coveted total capitalization of $2 trillion. Let’s see how it happened.
Bitcoin’s price was trading at about $40,000 last week when on Saturday, it surged convincingly and consolidated around $41,500. The cryptocurrency spent a few days there, but all this changed on Monday when bulls took control.
BTC tested $43,000 on Monday but has yet to conquer that level. However, it did so in style on Tuesday as it was already trying to break above the $45,000 level. It failed to do so and retraced and was trading between $43,000 and $45,000. When the January CPI numbers hit the markets yesterday, BTC experienced tremendous volatility, losing $2,000 and recovering it in less than an hour, leaving millions in liquidations. Since then, the market has returned to its current position.
The rest of the market also performed very well. Ethereum is up 16%, Binance Coin (BNB) is up 11.8%, while Ripple exploded by 33%. Shiba Inu – arguably one of the most popular memecoins in the industry – surged by a whopping 52% and is now the 14th largest cryptocurrency in terms of total market capitalization.
All of this happened in a week when Binance announced a $200 million stake in one of the world’s biggest news outlets – Forbes, while BlackRock – the largest asset manager – is set to launch services. of cryptocurrency trading.
The market sentiment has changed to somewhat positive, and it’s very exciting to see how the next seven days will shape up.
Market data
MarWeek’s: $2.069 billion | 24H Theft: Impossible BTC Dominance: 40%
BTC: $43,625 (+18%) | ETH: $3,098 (+16%) | ADA: $1.15 (+9.3%)
This Week’s Crworld’sadlines You Can’t Miss
Binance to Invest $200 Million in Forbes (Report). A recent CNBC report revealed that the world’s leading cryptocurrency exchange – Binance, will be taking a $200 million stake inWorld’s the most renowned media venues – Forbes. This is the first time a crypto companyworld’ses in traditional media.
BlackRock, the world’s largest asset manager, to launch crypto trading services (report). The world’s largest asset manager – BlackRock – plans to launch cryptocurrency trading services. This comes from Apple after the company first showed interest in bitcoin trading and rworld owns shares of BTC mining sites.
Apple’s New Feature to Let Merchants Accept Payments in Crypto. One of the world’s largest tech companies – Apple – unveiled a new feature that would enable iPhone users to conduct cryptocurrency payments across mBitfinex’snts, large retailers, and smaller businesses in the US.
Who Gets Bitcoin Fortune? Everyone claims the $3.6 million BTC recovered by Bitfinex. The US government was able to recover nearly $3.6 billion worth of bitcoins. The big question now is who will get this fortune, as many people have already started depositing the previously lost cryptocurrency.
JPMorgan Increases Long-Term Bitcoin Price Prediction to $150,000. One of the world’s leading investment banks and financial institutions – JP Morgan – has updated what they consider to be the fair vaWon’trice for Bitcoin while also increasing their long-term BTC price prediction to a whopping $150,000 per coin.
Russia will not ban cryptocurrencies, but will regulate them instead. The country of Russia has decided not to ban cryptocurrencies. Instead, they will regulate. This comes amid heated discussion and wild speculation within the cryptocurrency community, which has been going on for several weeks.
