Demand for gold in Asia is surging despite high prices, as buyers seek a hedge against geopolitical and economic uncertainty. In Japan, there is currently a strong bullish sentiment on gold. Chinese investors, facing currency devaluation, real estate downturn, and trade tensions, have increased their gold purchases by 27% in the first quarter. In Thailand […]
Bitcoin News
Is Stacks The New Safe Haven? STX Soars 16% In Turbulent Market
In a stunning divergence from the recent altcoin carnage, Stacks (STX) has emerged as a beacon of green. The token has not only weathered the storm but thrived, soaring for seven consecutive weeks and etching its highest price point since March 2023.
At the time of writing, STX was trading at .80, down 10% in the last 24 hours, but managed to sustain a solid 16% rally in the last seven days, data from Coingecko shows.
This bullish defiance is no fluke. Stacks broke through a key resistance level, showcasing investor confidence. The lack of pullbacks underscores the sustained buying pressure, while the flash crash’s long wick transformed the once-intimidating barrier into a sturdy support floor.
STX Resilience Amid Market Volatility
Even amid the broader market correction, STX’s resilience speaks volumes about its relative strength. While this remarkable ascent undoubtedly excites, prudent skepticism remains.
The rapid climb without pullbacks might trigger a sudden correction, and concerns about potential overheating linger. Ultimately, STX’s fate remains intertwined with the overall cryptocurrency market sentiment.
Stacks has surged 694% in the past year, benefiting from the Bitcoin boom and standing out amid a recent decline in altcoins. This growth is driven by a mix of optimism around Bitcoin and Stacks serving as a prominent layer 2 solution for the cryptocurrency.
STX Price Movement Amid Anticipation Of BTC ETF Nod
Meanwhile, the potential approval of a Bitcoin ETF has generated excitement in the crypto community, benefiting projects like Stacks.
Stacks’s ability to incorporate smart contracts and decentralized applications onto the secure Bitcoin blockchain positions it well for potential developments in DeFi and NFTs within the Bitcoin ecosystem.
As a leader in the Bitcoin layer 2 space, Stacks is well-positioned to meet the rising demand for scaling solutions. This advantage allows it to attract developers and users interested in building on the security of Bitcoin.
However, the crypto market is volatile, and Stacks’s success depends on ongoing innovation and adoption, given intense competition in the layer 2 sector.
While acknowledging these challenges, Stacks’s impressive performance should be monitored by investors.
The cryptocurrency is navigating the evolving landscape of the Bitcoin resurgence, and its ability to sustain momentum and establish a lasting presence remains uncertain. Nonetheless, the current chapter of Stacks’s story is filled with exciting possibilities.
STX Technical Overview
Stacks (STX) is feeling the heat from the bulls, who are aiming to break through the .80 psychological barrier and potentially climb to .95, the upper channel limit.
This bullish sentiment finds fuel in a rising Relative Strength Index (RSI) at 66, suggesting buyer dominance, and upward-trending moving averages, hinting at favorable market conditions. If the bulls conquer .95, .0, a 14% climb from current levels, could be the next stop.
However, caution lurks beneath the optimism. Buyer exhaustion or profit-taking could trigger a correction, sending STX dipping towards .6 and even .48, the lower channel boundary. The moving averages currently act as strong support zones, potentially buffering this potential dip.
While the bulls lead the charge, keep an eye on the RSI and price action around .80 and .95. A clean break could propel STX higher, but consolidation or a dip is also a possibility.
Featured image from Shutterstock
Argentina Allows Banks to Open Yuan Accounts — Economist Says It Could Boost Chinese Currency as Safe Haven Alternative to US Dollar
The central bank of Argentina has officially included the Chinese yuan as a recognized currency for making deposits in bank accounts. “Opening yuan accounts could attract more people and enterprises to exchange Argentinian peso to yuan, as more or less a ‘safe haven’ currency, instead of exchanging all of their local currency to U.S. dollars,” an economist explained.
Banks in Argentina Now Authorized to Open Yuan Accounts
Argentina’s central bank announced Thursday that it is now allowing Chinese yuan in bank accounts. The announcement states (translated by Google):
The Central Bank of the Argentine Republic has incorporated the renminbi yuan as an accepted currency for deposit-taking in savings banks and checking accounts. Financial entities will thus be enabled to open bank accounts denominated in renminbi yuan.
The decision by Argentina’s central bank to incorporate the Chinese yuan aligns with the country’s struggle against a dwindling supply of U.S. dollars. The move also coincides with China’s ongoing efforts to promote the internationalization of its currency.
In addition, Argentina’s National Securities Commission announced in June that it would allow dealing in renminbi-denominated securities. Earlier this month, China’s central bank, the People’s Bank of China (PBOC), and Argentina’s Central Bank signed an agreement for a 130 billion yuan (.9 billion) bilateral currency swap over three years.
BBVA Research’s senior China economist, Dong Jinyue, was quoted by the South China Morning Post as saying:
Opening yuan accounts could attract more people and enterprises to exchange Argentinian peso to yuan, as more or less a ‘safe haven’ currency, instead of exchanging all of their local currency to U.S. dollars.
“The diversification of foreign currency exchange will surely help alleviate the US dollar shortage in Argentina because US dollars become not the only foreign currency to exchange,” he opined.
Stephen Olson, a senior research fellow at the Hinrich Foundation, described:
Given rising geopolitical tensions, China is growing increasingly uncomfortable with the pre-eminent role of the U.S. dollar in conducting international trade.
Some people believe that the Chinese yuan has the potential to erode the dominance of the U.S. dollar in global financial markets, including TD economist Vikram Rai. Russia’s VTB Bank Chairman Andrey Kostin, who is sanctioned by the U.S., said in May that the Chinese yuan could replace the U.S. dollar as the world’s main reserve and settlement currency as early as the next decade. In addition, many people expect a proposed common BRICS currency to challenge the USD’s hegemony.
What do you think about Argentina’s central bank allowing banks to open accounts in Chinese yuan? Let us know in the comments section below.
Joseon: Finally, Cryptocurrency Has a Safe Haven
The cryptocurrency industry has faced significant regulatory challenges in recent years, with the SEC and CFTC taking action against various projects, including sending Wells notices to Coinbase. Amidst this regulatory landscape, the concept of sovereignty and international law has become increasingly important for crypto investors and innovators. The idea is that a new state can create a safe-space for said innovations to flourish – introducing Joseon, the world’s first cyber nation-state with diplomatic relations with a recognized UN member nation.
Understanding the Impact of Sovereignty on Crypto
Sovereignty refers to a country’s ability to govern itself independently. This means that governments can regulate and control activities within their borders, including those of cryptocurrency companies. While some countries offer favorable regulatory frameworks that allow crypto companies to exist in some capacity, others impose stricter regulations or outright bans that limit operations and hinder innovation. In international law, only sovereignty is bestowed the absolute power of existence.
Creating a Nation
Establishing a sovereign nation typically involves a referendum at its best or a tumultuous war at its worst. For Joseon, however, the process is much simpler: it’s already a nation-state.
What is Joseon?
Our new nation, Joseon, is the successor to the original Joseon Empire which was founded in 1392 and was the longest-running dynastic kingdom of Korea. Contrary to popular belief, Joseon never “ceased” to exist when Japan annexed the empire in 1910. The “Annexation” treaty was signed under the duress of armed threat and lacked signatory endorsement from the King of Joseon. International law dictates that a state cannot be extinguished due to belligerent occupation. Furthermore, a 1965 treaty between the Republic of Korea and Japan declared the 1910 treaty invalid and legally null and void. In 2023, Joseon reaffirmed its continued existence through a treaty with Antigua.
A Jurisdiction that Encourages Innovation
As a recognized nation-state, Joseon has established its own regulatory framework in its jurisdiction, allowing its “citizens” (called Denizens) to establish their own corporations. Instead of imposing restrictions on innovation and technology, Joseon aims to provide an environment that encourages creativity and development. This implies that the limits of innovation and technology will be determined by technology itself, rather than by restrictive regulations imposed by nation-states worldwide.
Putting Practice into Reality
There are real concerns about the state of internet legislation, including laws against cryptocurrency and those that limit freedom, such as the RESTRICT ACT and other bills. In contrast, Joseon provides a sovereign cyber jurisdiction free of these burdensome regulations.
Although futuristic in nature, this idea has already been put into practice in reality with BKEX, one of the world’s leading cryptocurrency exchanges. We are proud to announce its ambitious plans to incorporate in our jurisdiction. By operating within our jurisdiction, BKEX can leverage our exceptional legal framework and technological infrastructure.
Additionally, in our capacity as a nation-state with legal recognition, we have introduced the Mun currency (JSM), which offers the benefits of both a legitimate national currency and a cryptocurrency. As a sovereign currency, this is the first unbannable cryptocurrency in the world. It’s available at BKEX and Hotbit.
Our Journey
During the development of Joseon as a cyber nation-state, numerous notable individuals became involved in the project, including Mike Honda, a former U.S. Congressman and DNC Vice Chairman, and Roger Ver, who serves as Chairman of Bitcoin.com, along with many others.
In summary, Joseon’s redefines the nation-state and presents a safe haven for emerging businesses and entrepreneurs, offering an exceptional and inventive take on sovereignty. Technology does not exist to make us lazy, instead, technology exists to make us do more.
Become a Joseon Denizen and truly experience freedom!
Links:
Website: https://joseon.com
Whitepaper: https://joseon.cloud/JoseonWhitepaper.pdf
Written by Phil Lee
This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.
Gold Proves To Be A Safe Haven Asset Amid Bitcoin Crash
The advantages of holding bitcoin over gold have been publicized and debated countless times. These two digital assets, one a physical asset and the other referred to as the “digital gold”, have both gone head-to-head when it comes to which one is the better store of value. As the bitcoin crash raged on last week, the discussion is once again being had about the merits of holding a relatively stable asset such as gold compared to a volatile one such as bitcoin.
Gold Provides Cover
Over the past week, the price of bitcoin had declined more than 30%. This had led to a sea of red in the market as the rest of the cryptocurrencies followed suit. During this time, the year-to-date value of bitcoin had dumped significantly. This put the digital asset which had been outperforming its physical counterpart for quite a while behind it once more.
Related Reading | Over 0 Million In Liquidations As Bitcoin Recovers Above ,000
Despite the year-over-year returns of gold being gown, it remained in the positive while that of bitcoin has declined into the red. As of Tuesday, gold is up 0.6% year-to-date, putting it in the green territory. As for bitcoin, the cryptocurrency is now down a whopping 55% on a year-to-date basis.
The volatility of bitcoin has been a cause for concern for those in the traditional finance market. However, it has also been one of the biggest pulls for those invested in the asset. It had grown more than 50% last year to an all-time high of ,000 before declining over the next six months to a low of ,600.
BTC price trading below ,000 | Source: BTCUSD on TradingView.com
While the sell-offs have rocked bitcoin, gold has not been as unfortunate. So when it comes to the argument of which of these digital assets serves as the better inflation hedge, gold has now come ahead of the cryptocurrency.
Bitcoin Going Down?
Bitcoin’s recovery streak has been encouraging over the past couple of days. After hitting a low in the ,000 territory, the recovery has been steady ever since, save a few dips here and there. With this has come a recovery above the 5-day moving average for the first time in the last week.
Despite this, the selling pressure has remained high and more sell-offs are rocking the market. However, support is beginning to form above the ,000.
Related Reading | Bitcoin Recovery Wades Off Celsius Liquidation, But For How Long?
There are also the implications of the price of the digital asset falling below the previous cycle high for the first time ever. It has given credence to the school of thought that the digital asset has not reached its bear market bottom. Coupled with the fact that bitcoin has previously fallen at least 80% in all its previous markets, the bottom is likely to come in at around ,000.
Additionally, the bottom is expected to happen about 15 months after the previous halving which puts the bottom at some time in the 4th quarter of 2022.
Bitcoin is trading at ,313 at the time of this writing. It is up 1.93% in the last 24 hours with a market cap of 5.8 billion.
Featured image from Kinesis Money, chart from TradingView.com
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Institutional Investors Seek Safe Haven In Crypto Products Amid Market Uncertainty
Institutional investors have been a big part of the crypto market ever since they started investing in the market. Just like every other investors, institutional investors are not immune from the wild price fluctuations that characterizes the crypto market. This has resulted in big money looking for safe havens to move their money into while the worst of the market blows over. Sometimes, they turn to altcoins but this time around seem to have fond better luck with crypto products.
Outflows Rock Market
The recent recovery of the crypto market has been rocked once more by outflows. As prices had recovered, more investors had chosen to take profits and this had lead to more outflows. The previous week saw these outflows from digital investment products grow as high as 1 million in a single week, one of the largest in 2022. This had seen the total assets under management (AuM) decline towards one-year lows, now sitting at billion. The last time AuM was this low had been in July 2021.
Related Reading | LUNA Records 100% Growth In A Single Day. More Upside Coming?
Both Bitcoin and altcoins were not spared the onslaught. For the pioneer cryptocurrency, the inflow trend from the previous week had been swiftly reversed. It instead saw outflows totaling 4 million in a single week, making it the largest loser from last week. In the same vein, Ethereum had also followed in the footsteps of bitcoin with outflows reaching .3 million.
Other altcoins would not follow this trend though. Digital assets such as Cardano and Polkadot have been making their way into the radar of institutional investors and this saw both asset bring in million in inflows respectively.
Crypto market cap drops to .239 trillion | Source: Crypto Total Market Cap on TradingView.com
Blockchain equity investment products would suffer the same fate as Bitcoin and Ethereum and outflows had reached million. This followed the recent trend of broad sell-off in equities that had seen more investors move out of them.
Multi-Crypto Products Provide HavenB
With so much bad news floating around the market, institutional investors have sought refuge in other places besides directly investing in cryptocurrencies. What they have landed on have been the multi-crypto investment products which have emerged the recent winners for last week.
These multi-crypto investment products saw inflows totaling .7 million for last week alone. This has brought the total assets under management to 5 million for multi-crypto investment products, while the total inflows make up 5.3% on a year-to-date basis.
Related Reading | Long Liquidations Continue To Rock Market As Bitcoin Struggles To Settle Above ,000
It remains one of the best performing when compared to its other counterparts. While others have seen countless weeks of outflows in 2022 so far, there have been only two weeks where multi-crypto investment products had recorded outflows, making it a safer bet for institutional investors during times of market uncertainty.
Nevertheless, year-to-date and month-to-date net flows remain positive for bitcoin. It currently sits at 7 million and 7 million respectively. Although .1 million had left the market as a result of outflows from short bitcoin.
Featured image from Moneycentral, chart from TradingView.com
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Crypto Carnage Causes Flight To Bitcoin Safe Haven, Dominance Demonstrates
The crypto bloodbath continues to rage on, as bitcoin drops 13%, although to a lesser degree than what was experienced last week. Due to this, there have been several migration patterns recorded in crypto investors as they look for the best safe haven. The first had been the flight to stablecoins for cover from the unending losses. However, the tide has changed on this once again as investors look to now be flocking back to bitcoin, causing dominance to rise.
Bitcoin Re-Establishes Dominance
The decline has affected all cryptocurrencies in the market but data shows that some more than others have had a worse time of it. Altcoins, especially the small cap altcoins, have recorded the highest losses as expected. Bitcoin is not spared from this though.
Related Reading | Ethereum Hashrate Breaks All-Time High, Will Price Follow?
The largest cryptocurrency by market cap is now down 13% price-wise but this has not stopped it from re-establishing its dominance over the market, touching a new six-month high. It is now at a 44.4% dominance and it hasn’t been this high since October of 2021.
BTC dominance returns | Source: Arcane Research
Mostly, the decline of investor sentiment into the negative has been one of the major factors in driving investors towards bitcoin. Since altcoins are getting hammered in the market, investors are looking to BTC, which they believe to be a safer bet compared to the lesser cap coins.
The result of this has been money from altcoins being moved into bitcoin, leaving altcoins behind this. As such, bitcoin has only recorded a 23% decline since the month of May began, the lowest decline of all the indexes.
Others have recorded higher declines. The Large Cap Index came in with a 28% loss in the last two weeks, the Mid Cap Index with 31% in the same time period, while the Small Cap Index has been hit the worse with a 37% decline.
Stablecoins Take A Hit
The whole UST debacle has begun to settle but the effects of the third-largest stablecoin crashing continue to affect its counterpart. After the UST de-pegging, some of that low sentiment had flowed into the largest stablecoin, USDT, which had lost 10% of its market cap.
BTC dominance reaches six-month high | Source: Market Cap BTC Dominance on TradingView.com
One of the reasons for this though had also been the peg of the stablecoin being challenged as bitcoin’s price declined. It is also speculated that some of the funds leaving USDT had flowed into another stablecoin, USDC, which happens to be the second-largest stablecoin.
Related Reading | Bitcoin Marks Seven Consecutive Red Candles, Paints Gruesome Picture For Market
Both these stablecoins have continued to maintain their dollar peg though. This leaves UST as the only stablecoin that lost its peg.
Featured image from Yahoo Finance, charts from Arcane Research and TradingView.com
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Bitcoin Soared 20% In Two Session With Crypto Demand As Haven
With the price of Bitcoin climbing again, it’s not surprising that other cryptocurrencies are jumping too. As an investment vehicle and possible way around sanctions in Russia or elsewhere-this could be very interesting.
This week, the cryptocurrency has been on an unstoppable rise, with prices climbing 8% in NY trading hours and over 20% in just two sessions. At one point, it overtook Bitcoin’s market value at ,964 per coin, bringing its total capitalization above 0 billion.
Related Reading | Bitcoin Breaks Above 50-Day SMA, Will BTC Ride It Out To ,000?
The cryptocurrency market continues to see significant growth, with Ether crossing ,000 and several other coins improving. For example, the value of terra’s LUNA is up 76% over the last week, according to CoinMarketCap– nearing an all-time high set in early December. Finally, there was Avalanche which advanced during this time period too.
In a world where the news is constantly changing, and governments seem to be everywhere, some people have turned away in favor of cryptocurrencies. However, the idea that these funds are detached from any government control makes them attractive because they can’t be influenced by anything besides supply-and-demand factors–not even warring conflicts overseas.
FRNT Financial Inc.chief executive, Stéphane Ouellette said;
Bitcoin has gold-like properties in that if you hold it, you directly control the assets as opposed to governments and banks being in between. So when banking is destabilized in a region, which is happening in Europe right now. It would make sense to see some flows into BTC as people diversify away from the banking system.
Bitcoin Plunge As Russia-Ukraine War Intensified
The price of cryptos is currently being driven higher by investors looking to get in on the action. However, he said that Speculators could take advantage and drive prices even higher. This will make their investments pay off exponentially faster than if they waited for more traditional markets like stocks or bonds where there’s always someone else who has already bought low before you do so yourself.
Bitcoin added 8% to its value today | Source: BTC/USD Chart on Tradingview.com
Global markets took a plunge on Tuesday as the war in Ukraine intensified. Russia continued its offensive despite mounting penalties. Russian troops are shelling military facilities civilian areas alike. President Volodymyr Zelenskiy accused them of committing acts of terror.
Related Reading | Bitcoin Dominates Altcoins During War-Torn Month Of February
European stocks and US equities continued their decline along with the fear gauge in Wall Street, VIX.
The belief that Bitcoin can be a valuable asset during geopolitical turmoil is not new. Some analysts have long posited this. However, its outperformance amidst the volatility has some bulls pointing to an end for the narrative. Which explains that crypto will just turn out like all other risky assets. But there’s still more work left before we’ll know how things ultimately play themselves out.
Analysts Review On Crypto Rise
Adam Farthing, chief risk officer for Japan at B2C2, said;
Bitcoin could “de-link from risk” and start trading more like a hedge to geopolitical instability and inflation.
Walid Koudmani, an analyst at XTB Market, explains;
Bitcoin saw a significant upward move today as it appears to have slightly regained its safe-haven status while the Russia-Ukraine conflict continues to intensify.
There are other factors at play. The rally is about “the utility of these assets to serve as a potential workaround for Russia sanctions and also point that virtual currencies can be an alternative in times when people need them most,” said Nicholas Colas, co-founder DataTrek Research.
Featured image from Pixabay, Chart from TradingView.com
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Bitcoin As Safe Haven Asset On The Spotlight As BTC Crosses $43K
According to figures from Coinbase and Coindesk, cryptocurrency values have risen nearly as swiftly as they fell, with some analysts referring to Bitcoin’s capacity to act as a safe haven asset during times of global turmoil.
The cryptocurrency market cap reached .7 trillion today, indicating that the broader crypto industry has rebounded nicely.
Bitcoin is active today, trading at ,232.38, up by 14.40% since Monday. It is within the boundaries of a bullish trend that may affect the cryptocurrency market until the coming weeks.
BTC posted a high of ,760.46 and a low of ,585.36. Its market capitalization at present is 0.17B.
Related Article | Bitcoin Staggers After Putin’s Nuclear Deterrence Alert Warning
As for Ethereum, it also showcased bullish trends with a current price of ,919.47, which also had an 11.69% increase in the past 24 hours.
It has highs reaching ,972.33 and lows of ,571.94; its market capitalization is on a high note, at 3.74 billion.
Safe Haven Asset Tested
The impact of Russia’s invasion of Ukraine was felt by markets worldwide. The Bitcoin market was not spared, with its market capitalization dropping below .5 trillion.
However, as evidenced by Tuesday’s positive price increase, Bitcoin has recovered enormously.
Greater volatility in the global cryptocurrency market will undoubtedly increase as the war continues, resulting in substantial increases in the prices of Bitcoin and Ethereum.
Thanks to a last-minute rebound seen earlier today, the cryptocurrency market has recovered from its earlier losses. Bitcoin hit a critical support zone, resulting in a buying frenzy among crypto investors that signaled the rally’s start.
BTC total market cap at 3.41 billion in the daily chart | Source: TradingView.com
Related Article | Criminal Whales Hold Billion In Crypto Assets: Chainalysis Report
Heavy Liquidations
According to Coinglass data, 94,769 traders liquidated in the last 24 hours, totaling 9.61 million. Longs accounted for 5.45 million, or 35.36% of the total, with shorts accounting for the balance.
It also showed that most liquidation happened during the close of trading of the New York Stock Exchange Friday, and the start of the Asian Exchange when the price of Bitcoin soared dramatically.
Ruble Collapses, Bitcoin Up
After a stunning price increase that coincided with a significant drop in Russia’s currency, Bitcoin now has a higher market valuation than the Russian Ruble.
A significant increase in traffic yesterday as Russians race to trade their rubles for cryptocurrencies as the fiat currency falls under harsh economic penalties could be one of the reasons for the russian crypto exchange failing offline.
Meanwhile, some analysts said that this is an indication that cryptocurrencies are being used to transport money across borders and as a means to safeguard and store the value of money when traditional currencies fail.
Featured image from MSN, chart from TradingView.com
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False Safe Haven: Bitcoin Correlation With S&P 500 Hits ATH
Data shows the Bitcoin correlation with S&P 500, and hence the stock market, has now set a new all-time high (ATH).
Bitcoin Correlation With S&P 500 Reaches New High
As pointed out by an analyst in a CryptoQuant post, the BTC correlation with the stock market is currently at an all-time high, further damaging the “safe haven” narrative.
The “Bitcoin correlation with S&P 500” is an indicator that measures how strongly the price of BTC reacts to volatility in S&P 500, as well as the direction of the response.
When the indicator has values greater than zero, it means there is a positive correlation between the stock market and the price of the crypto at the moment. “Positive” here means that BTC moves in the same direction as S&P 500.
On the other hand, correlation values less than zero imply that BTC reacts to S&P 500’s price changes by moving in the opposite direction.
Related Reading | Bitcoin Plunges Below As Russia Has Reportedly Given Its Forces Order To Attack Ukraine
Values of the indicator exactly equal to zero naturally mean that there is no correlation between the two assets. Now, here is a chart that shows the trend in the S&P 500 and Bitcoin correlation since the year 2013:
The indicator’s value over the history of the crypto | Source: CryptoQuant
As you can see in the above graph, the correlation between Bitcoin and S&P 500 swung between positive and negative while remaining low for the most part of BTC’s history.
Related Reading | Why Bitcoin Won’t Crack Over Fresh Bear Assault, Next Potential Target For BTC
However, since late 2019-early 2020, the two assets have become strongly, positively correlated. During 2020, the metric had a crash due to the COVID sell off, but the indicator sharply rose during the 2nd half of 2021 and 2022 so far.
The correlation between the Bitcoin and the stock market has now set a new all-time high (ATH) of +0.5468 this month.
Such high correlation between the assets has further put a dent on the narrative of “digital gold” as the crypto is no longer the safe haven it once was.
BTC Price
At the time of writing, Bitcoin’s price floats around k, down 12% in the last seven days. Over the past month, the crypto has gained 10% in value.
The below chart shows the trend in the price of BTC over the last five days.
BTC’s price seems to made some recovery over the last couple of days | Source: BTCUSD on TradingView
A few days back, the price of Bitcoin plunged down, touching as low as .4k. Since then, the value of the coin has shown some recovery, breaking above the k level again today. At the moment, it’s unclear whether this fresh uptrend will last.
Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com
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