After weeks, Bitcoin drops below $11000

This is not really good news for the world’s top cryptocurrency by market cap to experience such a nasty fall. Having enjoyed being above $11K for weeks, Bitcoin dropped to $10,800 at the time of writing this article.


After months of suffering from Coronavirus pandemic, USD is recovering and regaining strength and keeps its place in the top currencies. This is of course good news for the US and some countries, it’s not so good Bitcoin. As Bitcoin price always drops when USD is on top of the currency chart.

Previously it was assumed that USD was subject to harsh economy situations like inflation. Therefore, many considered Bitcoin as the replacement which is not vulnerable to inflation and serves as a powerful and trustworthy asset which hedges your wealth in the economic downturns and harsh financial circumstances.

Although very volatile, Bitcoin has not failed people entirely regarding the past two months and has remained quite stable although it has been volatile and weak in maintaining the momentum which pops in when crossing the threshold. As of now, Bitcoin has plunged below its level by $1000.

Some predations have been made regarding the future days of the Bitcoin, and even some believe that this cryptocurrency may have a quick crash, others like Mike Novogratz of Galaxy Investment Partners disagree. He believes that Neither Bitcoin nor Ethereum are going away. And the cycle of innovations continues.


Crypto Currency(5)

Latest News

Visa partners will be able to settle fiat transactions with crypto

USDC can be exchanged over the payment network to pay for the transactions made in fiat by Visa partners. ...

MAR 29, 2021

Clean energy Bitcoin mining pool with Argo Blockchain

Argo has teamed up with DMG blockchain and a new Bitcoin mining pool will be up and running which is powered by hydroelectric energy. ...

MAR 26, 2021

layer-two scaling is the solution offered by Double for NFTs

Gods Unchained will have its alpha release launched this month which will be available to double (DJT) and multiple other developers. ...

MAR 25, 2021

Vitalik Butrin criticizes how NFT is being used to makes celebrities richer

Mr. Butrin is of the idea that helping people like Elon Musk to make a profit through NFT (Non-fungible tokens) market is not using it in a proper way, yet he t ...

MAR 24, 2021