Bitcoin crashes after Tesla abandons the cryptocurrency as a payment method, the crypto world criticizes Elon Musk and DOGE staves off competition from a furry rival.
Bitcoin price remains under pressure but select altcoins like XRP, DOT, XLM and SOL are showing signs of resuming their uptrend.
After failing to reclaim the $50,000 level, BTC faces renewed selling pressure in the short term. However, short-term headwinds don’t negate the bull market.
"Markets now can safely predict Bitcoin and crypto prices will likely exhibit high correlation with credit markets," said Long.
SOL was one of the top-performing cryptocurrencies on Sunday, outperforming Bitcoin and Ethereum by a considerable margin.
Increasingly sophisticated and constructive regulation of digital assets promotes innovation and helps economies to flourish.
Firms with iconoclastic leaders, like Musk and Dorsey, “would be the most likely to take the plunge” and commit sizable cash balances to crypto.
The final guidance expected to be issued by the FATF this summer might determine the next chapter for the decentralized finance space.
Due to the pandemic, many global events have been canceled, but some conferences can still be visited in 2021.
The cryptocurrency market now accounts for 2% of the global money supply as DeFi and stablecoin growth point to steady increases in adoption.