Bitcoin: down at $40,000; more losses ahead?
The main digital coin erased all the gains done after Elon Musk's February announcement. What are we heading into?
Bitcoin is nearly intact
On Wednesday, Bitcoin was nearly intact, extending what’s been rather a quiet spell for the leading crypto asset worldwide.
On the Kraken exchange, the currency pair BTC/USD stuck with $6,280.19, being intact since Tuesday. Year-to-date Bitcoin has lost over 50%. Additionally, it has declined by 67% from its all-time maximum of $19,780 recorded on December 17, last year.
By the way, on Wednesday the world celebrates the 10th anniversary of the first crypto asset as well as the publication of the white paper in which the digital coin’s developer, Satoshi Nakamoto, offered a fresh peer-to-peer payment system, running on an distributed anonymous ledger.
Beyond the leap in the price of the first crypto asset, the cutting-edge technology has provoked a wave of intellectual and financial capital, to what a lot of fans are assured will be another frontier of financial innovation.
No matter how one feels about crypto assets, Bitcoin has started a mind-blowing technological revolution, which will have huge implications for how data is consumed, shared and protected, as some market experts pointed out.
Being believers in the unstoppable nature of advanced technological innovations, and with just 10 years of the development of the promising distributed ledger technology, market experts don’t doubt that blockchain will be of supreme importance soon, and the entire world will have to accept it. However, no one knows for sure how soon it will take place.
Meanwhile, Altcoins along with futures demonstrated minor profits.
The currency pair ETH/USD managed to ascend by up to 0.2% being worth $195.01. BCH/USD rallied by 0.7% ending up with $416.00. The currency pair LTC/USD headed north by 0.6% showing $48.86, while XRP/USD jumped by 0.3% hitting 44 cents.
In addition to this, November delivery Cboe Global Markets futures XBTX8 soared by 0.1% reaching $6,250, while November delivery CME Group futures surged by 0.2% hitting $6,255.
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