BITCOIN TIPPING POINT! ADA Cardano & Ethereum Cryptocurrency (Citibank Currency of Choice) Crypto

BITCOIN TIPPING POINT! ADA Cardano & Ethereum Cryptocurrency (Citibank Currency of Choice) Crypto LiteCoin Dogecoin

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BITCOIN TIPPING POINT! ADA Cardano & Ethereum Cryptocurrency Citi Currency of Choice Crypto

Bitcoin’s rally has hit a speed bump, putting it on track for the worst weekly slide in almost a year amid wider losses in risk assets.

Bitcoin is down 24% in the seven days through Sunday.

It’s the worst weekly performance since March 2020.

Bitcoin fell 5.4% to about $43,000 the lowest in three weeks.

According to Coinbase, “The price move appears to be a continuation of last week’s trend when bitcoin fell amid concerns that rising U.S. Treasury Bond yields might prompt the Federal Reserve to tighten monetary policy.”

Digital asset markets were in the red across the board.

Up next, the native cryptocurrency of the Cardano blockchain, ADA, has broken to a fresh all-time high at $1.30 per coin.

That’s good enough to become the third-largest cryptocurrency when measured by market capitalization at $39 billion.

According to Coindesk, “A competitor to the Ethereum blockchain, Cardano was launched in 2017 and is mainly backed by business venture Input Output Hong King.”

Unlike Ethereum, Cardano has no major decentralized finance running it and despite that, it continues to be swept up in bitcoin’s market.

According to Messari, “the cryptocurrency is up 645% in the past 90 days.”

It’ll be really interesting to see how well they continue to do.


And finally, Citi recently wrote a very interesting note today, explaining how bitcoin could “become the currency of choice for international trade.”

They also stated that cryptocurrencies are: “at the tipping point of mainstream acceptance or a speculative implosion.”

Their note also said: “The entrance of institutional investors has sparked confidence in cryptocurrency but there are still persistent issues that could limit widespread adoption.”

With more and more major financial players joining the crypto game, the future looks bright for bitcoin and other popular cryptos.

I hope you found this video interesting and informative.

Thank you so much for watching, please be safe out there.

I’m Andrew Cartwright, take care, love ya.

Sources: https://www.coindesk.com/cardanos-ada-is-now-the-third-largest-cryptocurrency-by-market-cap
https://www.coindesk.com/bitcoin-tumbles-to-43k-lowest-in-three-weeks
https://www.cnbc.com/2021/03/01/bitcoin-btc-is-at-a-tipping-point-citi-says.html





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