Bitcoin collapses after a day of gains

However, today the world of cryptocurrencies is in the red, in line with traditional markets that operate with strong declines due to fears generated by the appearance of a new variant of Covid-19 in South Africa.

Bitcoin projections

Until this drop, which can be considered surprising given recent circumstances, the market was bullish on Bitcoin despite high volatility.

“Coming out of the $ 56,000 level was like pulling a heavy car out of the mud.”said Tasso Lago, a cryptocurrency specialist and founder of Financial Move. According to the Bitcoin price trend chart, the challenge starts at $ 60,000 and may extend to $ 62,000 but the market remains optimistic about the next steps for the world of cryptocurrencies, especially after the update of Taproot.

For Helena Margarido, Monett’s cryptocurrency expert, Bitcoin is more than an investment in currency but in technology. “It just went through a massive update. The news pushed the price in recent days, but the efficiency gain was much higher ”, He commented.

The market for altcoins, the alternative currencies to Bitcoin, is following the same uptrend today, particularly in the world’s top ten. Binance Coin is highlighted where recent changes in Binance influence the price of the world’s third largest cryptocurrency.

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Helen Hernandez is our best writer. Helen writes about social news and celebrity gossip. She loves watching movies since childhood. Email: Phone : +1 281-333-2229

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