bitcoin

Market Update – BTC Adds $800 in 24 Hours

Analysis
Reading Time: 2 minutes

The price of the market’s largest cryptocurrency by capitalization is almost touching the $40,000 barrier after adding $800 during the last day. As a result, the crypto is trading at $39,643.17 (-4.12%), while the rest of altcoins from CoinMarketCap’s top 5 are also losing value, except for Ethereum and Tether, which have added 1.77% and 0.01%, respectively.

CoinMarketCap

In this context, the Bitcoin dominance index stands at 46.1%, while the capitalization of Bitcoin amounts to $744,265,332,211.

As far as the total capitalization of the crypto market is concerned, it stands at $1.613T.

Today we have share several news worth mentioning. For example, it has become known that payments company Square is buying the Australian installment plan service Afterpay for $29 billion. According to sources, the deal is scheduled to close in the first quarter of next year.

We have also reported that some US senators have introduced a bill that if approved would change the filing requirements for all crypto-related companies. The law, which would also clarify the definitions of some crypto-related terms, would make it easier for cryptocurrency companies to report on their activities.

It has also been known that the People’s Bank of China (PBoC) plans to continue applying a regulatory pressure on cryptocurrency trading. This is not a surprise because the Chinese authorities have been applying a great pressure on the crypto industry in the country for quite some time.

Finally, we have shared a news article about Lael Brainard, member of the Board of Governors of the US Federal Reserve System (FRS), who has said that the US needs to “urgently” accelerate the development of the digital dollar.

We have just started a new week, and the rest of days could bring major changes in the crypto market. Yes, we know things can change in a matter of minutes, so, what will be the price of Bitcoin tomorrow?

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