Bitcoin price appeared close to recovering above $60,000 over the weekend, but slipped once again at the start of the week, falling below $58,000 on Monday morning.
Several other major cryptocurrencies also suffered losses, including Ethereum (Ether), Binance Coin and Cardano (ADA).
Of the top 10 most valuable cryptocurrencies, only Solana (SOL) saw any positive action, up 3% since Sunday.
The recession saw the overall crypto market fall by over 2% overnight, although it remains well above the $2.5 trillion mark.
This puts the market in a sort of limbo, with analysts divided as to whether the market has lost its momentum and is entering a bearish phase, or whether the latest price drop is instead the result of a modest correction that was earlier. will be preceded by a new all-time high. end of 2021.
You can follow all the latest news, analysis and expert price predictions for the crypto market here.
El Salvador Announces ‘Bitcoin City’
El Salvador has announced plans to build a new city in the shadow of a volcano whose geothermal energy is used to mine bitcoin.
President Nayib Bukele told a crowd at the Latin American Bitcoin and Blockchain Conference over the weekend that the aptly named Bitcoin City will be financed by a bond offering that will take place entirely in BTC in 2022.
It comes just two months after El Salvador became the first country in the world to adopt cryptocurrency as legal tender.
You can read more about this news here.
El Salvador Will Build Cryptocurrency-Fueled “Bitcoin City”
El Salvador President Nayib Bukele says his government will build a “Bitcoin City” by the sea at the base of the volcano
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Credit: www.independent.co.uk /