Before the news that the US President was about to sign an executive order to promote research into the issuance of cryptocurrencies, the Bitcoin price from yesterday surged to $42,000 after a series of catastrophic declines.
Tensions between Russia and Ukraine have hit the cryptocurrency market hard. Bitcoin price fell for many days in a row. On March 7, the Bitcoin price dropped to the $37,000 mark.
However, from yesterday until now, Bitcoin showed signs of prosperity when it increased very strongly, to the threshold of 42,000 USD.
According to CoinDesk data at 8:36 am today (March 10, Vietnam time), the world’s largest cryptocurrency was trading at $41,806.4 per coin, up 2.73 compared to yesterday. In the last 24 hours, the highest price of Bitcoin reached $42,577, the lowest at $40,666.46.
As CoinGecko reported, Bitcoin trading volume over the past 24 hours is nearly $29 billion. The Bitcoin market capitalization as of this evening is close to $792 billion.
Many other cryptocurrencies also rallied strongly following the rise of Bitcoin, the crypto market was filled with hope.
For example, compared to the previous 24 hours, Ethereum increased by 0.69%, at a price of $ 2,704; XRP is up 5.23%, priced at $0.764; Terra is up 9.13%, priced at $97.45; Solana rose 4.19%, price to 97.40 USD; Cardano is up 0.55%, price is $0.835; Polkadot is up 2.89%, priced at $17.7…
As Bitcoin and many other cryptocurrencies surged in value, the market capitalization of the cryptocurrency market skyrocketed. The total capitalization of the cryptocurrency market this morning reached more than 1,904 billion USD, an increase of 5.7% compared to yesterday.
Analysts said that the price of Bitcoin and many other cryptocurrencies increased sharply on the news that US President Joe Biden was about to sign an executive order, directing the Justice Department, the Treasury Department and a number of research units. Legal research to create a US Central Bank electronic currency.
According to Reuters, the US cryptocurrency ordinance sets a 180-day deadline for relevant agencies to report on the “future of money” and the role of cryptocurrencies.
@ Vietnamnet
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Source: Vietnam Insider