As of Today’s information, Cryptocurrency prices continue to trade lower, with Bitcoin prices falling more than 2% to $31,590.9.
Ether and CoinDesk declined by 5% to $1,883. On the other hand, Dogecoin was below 7% to $0.18. In contrast, other digital tokens such as Litecoin, Cardano, XRP fell in the range of 4-9% over the past 48 hours.
Bitcoin experienced a hit by various setbacks, including China’s regulatory crackdown. It happened partly because of concerns about high energy consumption resulted from crypto miners. Another reason was progress in central bank digital-currency projects that might squeeze private coins. Bitcoin’s price had approximately burst three months ago from its record high.
Dogecoin’s creator recently beat Crypto as primarily a sham. The Dogecoin co-founder wrote sharp words in a series of tweets about cryptocurrency.
Jackson Palmer wrote that after years of studying it, he believes that cryptocurrency is a hyper-capitalistic technology built originally to increase the wealth of its enthusiasts through a combination of tax avoidance.
In other news, SoftBank Group Corp. admitted to investing $75 million in Bullish, which is considered the sponsor o cryptocurrency exchange, which does not operate now. It can happen as the startup plans to go public with a particular target acquisition company.
Highlights of This Week’s Crypto:
- Experts say that holders of Ethereum and Bitcoin might not need to worry about changing their strategy besides the Chairman’s announcement that seems the opposite of what experts say.
- According to a statement from Italian regulators, primary cryptocurrency exchange Binance will no longer operate in Italy.
- According to CEO Jack Dorsey’s tweets, Square Inc. announced that it plans to build a new decentralized unit using Bitcoin.
Once again, Crypto caught international attention last week as the Italian government decided to ban a cryptocurrency exchange. At the same time, the U.S. Federal Reserve Chair gave statements on possible regulations.