This past weekend, Cryptocurrency coins experienced a downfall in prices after hitting all-time highs in the last couple of weeks. The market tanked early on Sunday morning, with Bitcoin taking the most extreme hit as it dropped $10K within a few hours. Dogecoin was the least affected crypto on the market, in comparison to others. It endured a minor dip and recovered shortly after with 12% gains by the end of Sunday.
Other changes also occurred in the market such as Coinbase going public via a direct listing. Bitcoin was able to rebound early Monday morning, after the weekend activities, and rose to 7%. All these changes have kept the crypto industry severely active.
In other crypto news, TheStreet had a series of stories based on the topic of cryptocurrency and assessed which cryptocurrency would be feasible for investors seeking to diversify their wealth. The question is: should they buy Bitcoin or Ethereum?
A huge factor in the bitcoin fall resulted from the ban issued by Turkey’s central bank. Turkey will omit the use of cryptocurrencies for payments in the country, effective the end of April 2021.
In other news, Dogecoin prices were soaring last week as it hit all-time highs on Friday, slightly above 40 cents and just below 50. However, in January of this year, the cryptocurrency was trading as low as less than a penny. According to critics, Dogecoin does not show any signs of slowing down its gains.
For more information on Bitcoin uptick, click here.