Bitcoin Price Begins to Recover After Eight Straight Weeks of Decline
2022-05-30 15:26:18
Will The Cryptocurrency's Cold Winter End in June?
Bitcoin prices are starting to show some signs of recovery today after several weeks of price declines. Even when the price of Bitcoin was in a continuous downward phase and cryptocurrencies were in a period of market turmoil, there were still many people who continued to buy them. Michael Saylor, CEO of MicroStrategy, was asked on Fox News on May 28th about "MicroStrategy's current strategy". MicroStrategy has not sold any Bitcoins and will buy more as soon as it has spare funds.
At the time of writing, Bitcoin is currently trading at $30,319.15 on the international cryptocurrency exchange Gate.io, up 4.6% in the last 24 hours on a volume of $18,709,361,388. Its price is down 63.1% relative to $48,000 in the last two months, but now the price has gone back up to over $30,000, which is good news relative to $29,000.
A survey executed by the European Central Bank (ECB) estimates that 10% of eurozone households are cryptocurrency holders. Wealthier households are more likely to buy Bitcoin and cottage coins.
About one in ten households in the following six European countries (Belgium, France, Germany, Italy, Spain, and the Netherlands) own cryptocurrencies. 37% of holders admit to having invested about $1,065 into the market, 29% have allocations between $1,065 and $5,350, and 13% have allocations as high as $10,700.
The ECB estimates that young people, well-educated individuals, and those with strong financial literacy, represent the largest crypto investors: on average, young adult males and respondents with higher education are more likely to invest in crypto assets in the countries surveyed. In terms of financial literacy, respondents with the highest or lowest financial literacy scores are highly likely to hold crypto assets.
As cryptocurrency investments become more and more family-oriented, there will be more and more room for them to grow. Not many people would have thought that the Bitcoin price live would be like this 13 years later, even after it was born in 2009.
Delighted Canadian rapper Drake gave away $1 million in BTC to his fans at a live conference with Stake.com, a goodwill gesture from the award-winning artist after winning more than $18 million playing online games, including roulette.
This isn't the first celebrity to make a pitch for cryptocurrency. Back in February 2021, American rappers Lil Wayne and Jay-Z teamed up with Block CEO Jack Dorsey to pledge 500 BTC to Bitcoin development. Recently, cryptocurrency startup MoonPay has received funding from many celebrities including Justin Bieber, Bruce Willis, Maria Sharapova, Snoop Dogg, Ashton Kutcher, and many others.
This shows that the recognition of cryptocurrencies in the market is increasing, which means that there is also a lot of room for its development.
Bitcoin prices are starting to show some signs of recovery today after several weeks of price declines. Even when the price of Bitcoin was in a continuous downward phase and cryptocurrencies were in a period of market turmoil, there were still many people who continued to buy them. Michael Saylor, CEO of MicroStrategy, was asked on Fox News on May 28th about "MicroStrategy's current strategy". MicroStrategy has not sold any Bitcoins and will buy more as soon as it has spare funds.
At the time of writing, Bitcoin is currently trading at $30,319.15 on the international cryptocurrency exchange Gate.io, up 4.6% in the last 24 hours on a volume of $18,709,361,388. Its price is down 63.1% relative to $48,000 in the last two months, but now the price has gone back up to over $30,000, which is good news relative to $29,000.
The Number of Investors in Cryptocurrencies Has Not Decreased Due to Price
A survey executed by the European Central Bank (ECB) estimates that 10% of eurozone households are cryptocurrency holders. Wealthier households are more likely to buy Bitcoin and cottage coins.
About one in ten households in the following six European countries (Belgium, France, Germany, Italy, Spain, and the Netherlands) own cryptocurrencies. 37% of holders admit to having invested about $1,065 into the market, 29% have allocations between $1,065 and $5,350, and 13% have allocations as high as $10,700.
The ECB estimates that young people, well-educated individuals, and those with strong financial literacy, represent the largest crypto investors: on average, young adult males and respondents with higher education are more likely to invest in crypto assets in the countries surveyed. In terms of financial literacy, respondents with the highest or lowest financial literacy scores are highly likely to hold crypto assets.
As cryptocurrency investments become more and more family-oriented, there will be more and more room for them to grow. Not many people would have thought that the Bitcoin price live would be like this 13 years later, even after it was born in 2009.
More and More Celebrities Promote Cryptocurrencies
Delighted Canadian rapper Drake gave away $1 million in BTC to his fans at a live conference with Stake.com, a goodwill gesture from the award-winning artist after winning more than $18 million playing online games, including roulette.
This isn't the first celebrity to make a pitch for cryptocurrency. Back in February 2021, American rappers Lil Wayne and Jay-Z teamed up with Block CEO Jack Dorsey to pledge 500 BTC to Bitcoin development. Recently, cryptocurrency startup MoonPay has received funding from many celebrities including Justin Bieber, Bruce Willis, Maria Sharapova, Snoop Dogg, Ashton Kutcher, and many others.
This shows that the recognition of cryptocurrencies in the market is increasing, which means that there is also a lot of room for its development.
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