Despite the low volatility that the crypto market had registered in recent weeks. Today, the price of Bitcoin is retreating to $ 9,300. Thus obtaining a decreasing movement in the last 24 hours.
Bitcoin fell to $ 9,300
Bitcoin’s price fell sharply to $ 9,300 earlier today. Thus yielding 3.5% in the last 24 hours, according to our Crypto Online tool. Bearish sentiment is affecting many markets today.
Some analysts were hopeful that an uptrend would start soon, sparked by rumors that PayPal was about to integrate support for cryptocurrency.
While factors like this opened up a bullish scenario for the crypto market, the largest currency by capitalization quickly responded negatively. This is how Bitcoin falls to USD 9,300.
The altcoins market also suffered significant losses today. The main cryptocurrencies saw losses of around 3%, and the total market price saw a decline.
Could the United States be on the verge of hyperinflation?
The United States seems to have a very bad outlook due to the economic consequences that the coronavirus pandemic has brought to many countries around the world. Although it seems that the United States has been recovering, there are risks that hyperinflation will clothe the North American country.
In this sense, through Twitter the analyst Plan B, stated that hyperinflation in the United States could be as bad as in Germany.
All this, after the massive issue of dollars in recent weeks, has substantially increased the supply of the American currency.
Strong movements of Bitcoin whales
Whale Alert has reported that Bitcoin whales have been on the move for the past few hours. Daily, Whale Alert tracks transactions made on various blockchains, storing the information in its databases in a single standard format.
These movements could have effects within the crypto market, as the market would have experienced low volatility in the last few weeks. However, let’s remember that the price of Bitcoin fell sharply earlier today.
There have been twelve operations that Bitcoin whales have carried out since Monday, we would see that these have mobilized US $ 342,764,379.69. That is, in 48 hours the whales have mobilized 35,487 BTC.
In a few lines …
- The Administrative Service of Identification, Migration and Aliens (SAIME) of Venezuela would be accepting payments with Bitcoin (BTC) to obtain the Venezuelan passport.
- Jay Hao claims that retail investors are likely to spend their extra money on Bitcoin as it is a good option to generate a return on your savings.
- The NEA Node of the NGO Bitcoin Argentina has been created to be a link with those who want to educate themselves and learn about Bitcoin and blockchain.
A recent post on the Ethereum blog shows that version 2.0 of the network is still in development, pointing to several new achievements since its last update.
“In addition to written updates and other public summaries, customers, employees, and community members / prospective validators have been busy,” it reads in Ethereum blog post.
After a long time in development, Ethereum 2.0 has yet to release with the network update to proof of stake. Other details included “The continuation of the grant to Sigma Prime for the search for clues to find all the bugs”.