It is continuous celebration time for BTC hodlers as the leading currency targets the $50k mark. Many Altcoins have followed in the steps of BTC by breaking new record highs.
Just like the sudden hike on January 8, 2021, months later on the 12th of February 2021, the leading currency did an upward surge to $48,985 even teasing the $50k mark before sliding back to the $46k range. Regardless of great surges and significant lows, BTC still maintains its bullish motion. The leading crypto is exchanging hands at $47,324.06 at press time.
It appears that the leading currency may hit $50k even early this new week. With the current lesser on chain circulation of BTC, demand for it has extremely hiked and ofcourse its value. With only about 4 Million BTC in supply and a steady decrease of this amount since mid-2020, its value has continued to hike amidst institutional investment and adoption of the currency. Whale hodlers, holding more than 1000 BTC, have also greatly surged, signalling that high net worth individuals and institutional money players are playing big in the crypto sector- especially purchasing BTC.
In a lot of words, “larger players are scooping up bitcoin off smaller players” as small money players are being extinguished with larger players dominating the arena.
It appears that it is fully Crypto season seeing as payments giant, Paypal, has also decided to explore the crypto sector and serve users in the United Kingdom. This way, non-US resident users can now leverage cryptos via Paypal and Venmo Apps before the end of June 2021, so far they are in the UK.
It is also good news to Apple Wallet users as the platform has announced a new collaboration with Bitpay, this way, its users can leverage BitPay cards to trade and exchange crypto.
Let us know your bullish or bearish thoughts down below. What is your take on BTC and Crypto’s future?
Latest Episode on Inside Blockchain
Crypto News Update
Crypto Bootcamp Community Celebrates Bitcoin Pizza Day Across Africa
The advent of Bitcoin has paved the way for seamless cross-border payments. The demand for third-party intervention in financial transactions...
Explore, Build Assets, Fight and Earn in the Supernova Space
A new economy was opened in 2017 when blockchain was integrated into gaming to produce the first Web3 game: CryptoKitties....
Owl.Games: The Rise of Crypto Games in the Casino Industry
Crypto gaming used to be new a few years ago but it’s going mainstream now. However, there are some sectors...
BCAT Africa: Reducing Unemployment in Africa
One of the greatest lines spoken in the Spiderverse is “with great power comes great responsibility”, although it can be...
Gamified NFT Platform Trove Announces Launch Partners SideQuest
Trove has announced its new Launch Partnership with SideQuest, a gamified risk-to-earn NFT collection. It was announced on Twitter today. ...