The Currency Analytics
By Steven Anderson
The weekend session was pretty Bullish for the Bitcoin. There was a 1.3% decline, and the bulls were trying to correct the price.
Bitcoin continues to dominate the industry. Saifedean Ammous tweeted: “Cryptocurrencies are a zero-sum game, and if you're not Bitcoin you've already lost.
The cryptocurrency has evolved from being just an alternative currency to fiat currency, and it has become an essential tool of value transfer across the globe.
Major coins have been trading sideways, and they have been relatively quiet over their losses in the past 24 hours.
While the Bitcoin broke the $11,000 threshold yesterday, the coin was not able to sustain the value, and it went down by 1.86%.
ETH has been down by 1.34% and has been trading around $221.26. The highest in the day was at $236.05.
Iain Wilson, Advisor at NEM Ventures, stated, “Recent price action in bitcoin and altcoins has been dominated by the U.S.
Wilson further continued stating, "Both Democrats and Republicans can unite around a shared view that crypto lessens the reach of the U.S. political establishment.”
The investors' hype will probably be cooled by the cold war between the political establishments from across the world.
Larry Cermak tweeted: “This is getting quite serious. Let's summarize: - Both BitMEX and Bitfinex are now investigated for servicing U.S.
U.S. regulators are looking to regulate the industry with stringent KYC and amendment to privacy policies.
The expected launch date for Ethereum 2.0 continues to be unconfirmed, but the ETH ecosystem is preparing for the most significant milestone for the network.