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CRYPTOCURRENCY - Bitcoin trapped under the $50K level

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The price of Bitcoin remained under the 50,000 dollars level on early Wednesday, where the currency fell at the beginning of the week. Bitcoin hit the all-time high of 58,330.57 dollars on February 21, with the support of rapidly increasing corporate purchases recently. 

TÜRKİYE 03.03.2021, 08:50
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CRYPTOCURRENCY - Bitcoin trapped under the $50K level
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Massachusetts Senator Elizabeth Warren said on Tuesday that she thinks Bitcoin will "implode" as she commented on the world's most popular cryptocurrency after it approached the $50,000-mark once again. Speaking to CNBC, Warren said Bitcoin will "end badly" because it is "speculative in nature."


Warren's comments come after Bill Gates said he was not likely to invest in Bitcoin which he also sees as bad for the environment and after United States Treasury Secretary Janet Yellen said Bitcoin exchange platforms need to be regulated.


Bitcoin increased by 0.49 percent in the last 24 hours to 49,188.25 dollars, after fluctuating between 47,228.85 and 49,671.71 dollars, while the weekly loss of the currency was calculated at 2.19 percent. Bitcoin's total market volume was 917 billion dollars.


With increasing corporate purchases, the total market capitalisation, which exceeded the 1.5 trillion dollar limit for the first time in history on February 15, was at 1.51 trillion dollars in the early hours of Wednesday, remaining over 1.5-trillion dollar level.


While the value of 29 units decreased from the highest volume of 100 units in the last 24 hours in the crypto money markets, two of the top 10 units were among those that fell.
Bitcoin accounted for 60.7 percent and Ethereum for 11.7 percent of the total market volume in 35,068 markets where 8,660 cryptocurrencies were traded, while the 24-hour trading volume in all markets was at 120 billion dollars. 

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