Among those who called it, hedge fund manager Mark Dow wrote almost exactly a year ago about his decision to short bitcoin after future trading on it first began:
In the wake of both Coincheck’s hack–as well as a big one that hit the South Korean exchange Coinrail–governments in East Asia began to crack down. Over the course of a few months, China, Japan, and South Korea all announced different measures to better regulate crypto-trading. The world was watching to see if this new technology would hit the mainstream–and government crackdowns following gigantic hacks helped poison the public perception.
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Business News›Markets›Cryptocurrency›Top cryptocurrency prices today: Solana, Binance Coin fall; XRP jumps 9%
The sudden spike in selling pressure pushed the flagship cryptocurrency to a low of $62,050, easing nearly 5,000 points in market value. Although prices have bounced back above $63,000 in the last few hours, it remains to be seen whether BTC can hold above support.
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Savvy cryptocurrency users are therefore maniacally protective of their private keys, typically storing them in multiple digital locations — although generally not Internet-connected, for security purposes — and on paper or in other physical form.
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The worldwide crypto market capitalization is currently $2.90 trillion, decreasing 1.25% over the last day. (Shutterstock)
There are also petitions through Change.org to have DogeZilla listed on major exchanges including Robinhood, Crypto.com, and WeBull.
When Ethereum and Bitcoin crashed, these “discount plays” tanked. Now, as the mainstream plays begin to build momentum, these cryptos are struggling to get off the ground and make space for their own identities.
Bitcoin’s surge continued overnight on Monday as the cryptocurrency soared to $68,568.85 in value in the early hours of Tuesday morning, according to Coinbase.
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