Bitcoin and other cryptocurrencies have experienced highs and lows throughout 2020 and into 2021. The highest level of $64,000 in April has almost been matched by highs in August 2021 of over $50,000 for Bitcoin.
However, there have also been lows. In the last few weeks of July 2021, Bitcoin dropped to below $30,000 after reports of the potential issues with the Delta variant of Covid-19. Following the latest crypto news can seem like a roller coaster ride over the last two years, and it is unlikely this will change in the near future.
Looking Forward
The latest crypto news still focuses on the concern of the inability of global economies to recover, given the significant spread of the Delta variant. While largely minimalized in the United States, it is a significant factor in many countries around the world.
In some ways, this latest crypto news only shows that cryptocurrencies are not immune to the same drops as seen in traditional markets, including the Dow Jones, Nasdaq, S&P 500, and other markets from around the world.
The Situation in China
Another source of volatility in the market that continues to make news is the increased focus in China on the regulation and restrictions on any crypto mining. This crackdown is in keeping with the country’s move to reduce energy consumption from coal power stations. With China considered the leader in global Bitcoin mining and operations, the uncertainty over what the government is planning on doing in the future continues to have an impact on the market.
Both Covid-19 and China are seen as key factors in the value of Bitcoin and other cryptocurrencies in the upcoming weeks and months.
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