The prices of several cryptocurrencies affected by El Salvador’s disrupted bitcoin adoption seem to be slightly stable.
The global cryopro market remains almost unchanged at $2.07 trillion compared to its values a day earlier.
Bitcoin, which was valued at over $52,000 in the early hours of last Tuesday, has been fluctuating between $46,000 and $45,000 over the past week, and is currently valued near $45,000.
Other cryptocurrencies including Cardano and Solana, which were trading at higher values prior to the crypto market’s fall last week, showed signs of recovery on Friday, but have fallen by around 5 to 10 percent in the past 24 hours.
British banking giant Standard Chartered recently noted That the value of bitcoin could reach new all-time highs in late 2021 or early 2022, but other forecasts suggest that the current trend could be below $20k by the end of the year.
You can follow all the latest news, updates and expert predictions here.
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To independent Live coverage of the crypto market. We’ll have all the latest news, analysis and expert price predictions for Bitcoin, Ethereum (Ether) and other major cryptocurrencies.
Bitcoin price at highest level since May
A fresh rally in bitcoin price overnight has propelled the cryptocurrency to its highest point since May.
El Salvador is set to officially recognize crypto as a currency tomorrow, in the hope that a price pump from BTC advocates could help it move even further. Notable figures within the industry have called on people to buy $30 in bitcoin to celebrate the law that went into effect on September 7.
From a long-term perspective, bitcoin is up more than five times over the past year.
Bitcoin ‘circumvents oppressive power structures’ in Taliban-run Afghanistan
While much of the recent attention to bitcoin has been focused on its price, there are some positive news stories focusing on the cryptocurrency’s technology and how it could prove to be life-changing for those cut off from traditional financial services.
A direct account of a man on the ground in Afghanistan has offered a glimpse of how bitcoin can benefit people living under the Taliban regime.
“Like our personal freedom, our economic freedom is quickly disappearing, with many speculating that we are on the verge of complete economic collapse,” the person writes anonymously. articles for tokenists.
“Fortunately, the developments around technology have given us an alternative. Digital assets, while there are no guarantees of freedom, can help achieve some level of freedom.
“They can be beneficial in bypassing oppressive power structures by giving users 24/7 access to money without permission. With legacy finance in Afghanistan on the verge of collapse, there is already a void for another system. Sure, crypto can’t fix Afghanistan, but it suggests an alternative financial system for every Afghan man and woman cut off from the world.”
New all-time high for bitcoin’s 200-week moving average
Bitcoin’s 200-week moving average has just hit a new all-time high, reaching just above $15,100.
The latest high, spotted by pseudonymous Dutch analyst PlanB, follows a trend that has seen the price of bitcoin rise over the long term.
“Anyone who didn’t buy bitcoin and [held] Lost money for more than four years,” PlanB said last week. “sometimes.”
The 200WMA was below $100 in 2014 and only crossed $1,000 in 2017. If another big bull run occurs, as PlanB predicts, the moving average will be on track to cross $100,000 in the next five years.
bitcoin price pump gains momentum
Major bitcoiners are preparing for a major price pump to celebrate El Salvador’s adoption of cryptocurrency as legal tender.
CoinCorner CEO Danny Scott and microstrategy boss Michael Sayler are among those encouraging people to buy $30 of bitcoin on September 7th – the same amount that is being offered to citizens to encourage mass adoption through the Chivo Wallet app. is being given.
Reddit’s /r/Bitcoin forum also has a number of posts supporting the price pump, while other bitcoin fans are using Twitter to promote the “mass buy” phenomenon.
Massive Bitcoin Price Pump Plans El Salvador to Celebrate Crypto Adoption
Reddit and Twitter users call for September 7 to be celebrated as ‘Global Bitcoin Day’
El Salvador buys 200 bitcoins as crypto becomes legal tender
Today marks one of the important days in the 12-year history of bitcoin, as El Salvador became the first country in the world to adopt the cryptocurrency as legal tender.
President Nayib Bukele announced that El Salvador bought its first 200 bitcoins ahead of the new bitcoin law that went into effect today, adding that brokers in the country will be buying “much more” as the country nears the deadline.
In an effort to encourage nationwide adoption, $30 worth of cryptocurrency is being offered to every citizen if they download Chivo, the government’s digital wallet app.
‘Bitcoin earthquake’ expected as El Salvador adopts crypto as legal tender
With Bitcoin Day finally at its end, some analysts are predicting a “Bitcoin earthquake” as people participate in calls from industry figures to buy $30 of the cryptocurrency in support and celebration of the adoption of El Salvador as legal tender. .
“There is also growing discussion about the supposedly planned ‘Bitcoin Day’ or ‘Bitcoin Earthquake,’ which is scheduled to take place on Tuesday 7.th “El Salvador adopts digital currency as legal tender,” says Daniela Hawthorne, an analyst at forex site DailyFX.
“So far online forums are suggesting a worldwide increase of $30 in each holder’s BTC stake, which is being perceived as a move of solidarity with Salvador, which seems a bit confusing as to how Would help. But anyway, it could be a ‘buy rumour, sell fact’ situation except for technicalities.”
Solana Price Hits ATH
It may be Bitcoin Day but the so-called “alt-coin season” is showing no signs of ending.
Solana is the latest cryptocurrency to hit a new all-time high, reaching close to $200 on Tuesday – up from around $3 this time last year.
The price increase has taken it above Dogecoin and ranks as the seventh most valuable cryptocurrency listed on CoinMarketCap.
You can read the full story here.
Solana Price Overtakes Dogecoin in Record-Breaking Swell
Cryptocurrency ‘will accelerate the biggest social impact change in our lives’, says an expert
El Salvador faces problems with Chivo bitcoin wallet
Not everything is going smoothly in El Salvador with the official introduction of bitcoin as a legal tender.
President Nayib Bukele announced that the Chivo Wallet app has been temporarily disabled due to network capacity issues.
“Chivo Wallet will not work for a few moments, we have disconnected it while increasing the capacity of the server,” he tweeted in Spanish. “The problems some people had with the establishment were because of this. We like to fix it before adding again.”
You can read more about it here.
Bitcoin Price Drops Below $50,000
Bitcoin price has suffered its second sudden crash in a matter of hours, falling below $52,500 to just below $48,000.
The reason for the falling price is not immediately clear, but may be linked to the previously mentioned issues with the roll out of bitcoin as legal tender in El Salvador.
A price pump is also planned to support the momentous occasion, with prominent bitcoin figures calling on people to buy $30 worth of cryptocurrency in support and celebration of the bitcoin law taking effect on September 7. Those who did participate may now be looking to reap any benefits from the modest price increase.
We’re reaching out to some experts for analysis and will bring more updates when they arrive.
Credit: www.independent.co.uk /