Bitcoin may not mean an end to traditional currency and banking, according to research director of Coin Center Peter Van Valkenburgh
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China’s Financial Committee announces a crackdown on Bitcoin mining activities. The market continues to fall down as Bitcoin reacts negatively to this news.
While many altcoins have seen double-digit gains during the recovery, the price of Bitcoin has continued to languish near the $50,000 level as whale wallets containing at least 1,000 BTC have declined by 4.7% compared to the previous month.
Bitcoin is down over 19% over the past week, falling from over $63,000 to just over $49,000 as of Saturday morning. Cryptocurrencies were hit after reports of Biden's capital gains tax proposal and the uncertainty of how it will affect the cryptocurrency market.
April 10, 2021, in the early morning hours, the second cryptocurrency Ethereum (ETH) witnessed a new price record, touching $2,200 on major spot exchanges. It pushed Ether's total market cap above that of world-leading companies.