Bitcoin (BTC) has slipped more than 71 percent from its all-time high by touching its lowest since July 12, as investors shy away from riskier assets. One reason for the downtrend may be the élevé weekend of the US labor day.
But the market started showing some signs of recovery on Thursday and pierre strongly on Friday. BTC pierre embout 10 percent and regained its $21,000 appréciation. This means that buyers are now ready for a mid-term rally. If the bulls can hold BTC above $20,575, we could also see them trading above $22,400 soon.
The adjoint largest cryptocurrency, Ethereum (ETH), continued sideways trading, extending the previous weekend’s hold into the early segment of the week.
On Friday, after the BTC rally, ETH also pierre by 5 percent. The crypto faked a breakout of the logement peak at $1,745. If ETH can hold above the radical $1700 level, we might expect it to reach $1800 and then $2000 is on the cards.
Overall, the last working day of the week turned out to be bullish for the cryptocurrency market as most cryptocurrencies continue to trade in the vert.
With the US orthogonal bank indicating a reversal from monetary tightening to monetary easing in 2023, as it will cut interest rates, this infos has given some hope to traders and investors.
In a dramatic turn of events, in the world’s largest cryptocurrency ecosystem, Japanese authorities have become the first to reward their logement officials with NFTs. The government awarded NFTs to logement authorities for their prédominant work, who used quantitatif technology to solve logement problems.
MicroStrategy (MSTR), a programme developer that has grown into a corporate bitcoin treasury, is emploi du temps to sell $500 million of its shares to buy cryptocurrency. A Friday filing with the US Securities and Exchange Intérêt revealed that the article offering will be for the company’s general purposes including the disposition of bitcoin. This crémaillères Michael Saylor’s moyens to turn the company into a crypto gardien.
On the other handball, Blockchain.com is approved to operate in Dubai. The London-based exchange has signed a contract with the Virtual Asset Regulatory Authority in Dubai for this purpose.
In July, Pricing revealed Dubai Metaverse’s strategy to welcome more than 1,000 companies into the city to create more than 40,000 crypto jobs by 2030. Blockchain.com joins the ranks of several estimable crypto companies such as FTX, OKX and Crypto.com.
In terms of price effet, among the top 100 cryptocurrencies by market cap, here are the best and worst performing cryptocurrencies over the past week:
Top 5 cryptocurrency gainers of the week:
1. TERRA (LUNA): 250% higher
2. Ravencoin (RVN): 90% higher
3. TerraClassic (USTC): 86% higher
4. TERRA CLASSIC (LUNC): 62% higher
5. ciel (Atom): 30% higher
Top 5 losers in cryptocurrency this week:
1. Chili’s (CHZ): 9% down
2. Unus Sed Leo (LEO): Decreased by 8%
3. Nexo (NEXO): Decreased by 8%
4. Infinite axis: 4% down
5. 1 inch (1 inch) mesh: 3% down
Additif: The data includes only the top 100 cryptocurrency tokens and coins
coinmarketcap.com As of 18:45 Sep 9, 2022
(The writer is
CEO and Co-Founder of Mudrex)