RateCaptain
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Rate Captain
No Result
View All Result
Home Cryptocurrency

Bitcoin Falls by Over 5 percent, But Competes With Gold In Global Asset Market

Rate Captain by Rate Captain
October 28, 2021
in Cryptocurrency, Currencies, Economics, Markets
Reading Time: 1 min read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

AlsoRead

Ethereum breaks below $1,800 as selling pressure accelerates

MetaMask Has a Plan to Help Victims of Crypto Scams

CBN’s N143 billion treasury bills auction records 47% oversubscription

Bitcoin experienced an acute drop to $58,851.20 on Wednesday, 3:00 AM EST. Nonetheless, the downhill trend of one of the world’s largest assets has not created any form of market panic amongst investors. Thus, cryptocurrency investors are optimistic that the price of bitcoin will increase.

The crypto market, after the sudden rise of Bitcoin in the last couple of weeks, anticipated a withdrawal as a result of the institution of the very first Bitcoin Future ETF, The ProShare Bitcoin Futures ETF.

Likewise, the action of the Chicago Mercantile Exchange to list Bitcoin Futures in 2017 and Coin base in April instigated an efficacious response from the market, with several cryptocurrency specialists yearning to see what bitcoin’s next action will be.

After several cryptocurrency fierce rises, a fall in the price of these assets has followed. Concurrently, the crypto-assets drop has been correlated to the growth of Shiba Inu meme coin. According to data from CoinGecko, Shiba meme coin has increased by 28%.

Bitcoin and Commodities

Bitcoin is attempting to move ahead of Gold in the global asset market. As of today, the market capitalization of Bitcoins is valued at  $1,113,647,208,637.

With the current ascending trajectory of Bitcoin, its value could be at par with Gold in the nearest future, Similarly Silver now faces competition in the market with Bitcoin.

In terms of inflow of funds, Bitcoin inflow is estimated at $8 billion, according to data from CoinShares. With respect to all new inflow entered last week Bitcoin’s percentage contribution was 99%.

Previous Post

What Could Be Driving Elon Musk’s Wealth

Next Post

African Development Bank Supports Nigeria Against Gas Project Defund.

Related News

Ethereum breaks below $1,800 as selling pressure accelerates

Ethereum breaks below $1,800 as selling pressure accelerates

by Rate Captain
May 27, 2022
0

The world's second most valuable cryptocurrency continued its slide in early trading in Europe on Friday, as participants fretted about...

MetaMask Has a Plan to Help Victims of Crypto Scams

MetaMask Has a Plan to Help Victims of Crypto Scams

by Rate Captain
May 26, 2022
0

MetaMask, the browser-based wallet for navigating the world of Web 3, can now help victims of crypto scams and phishing...

CBN governor respond to APC 100M president form

CBN’s N143 billion treasury bills auction records 47% oversubscription

by Rate Captain
May 26, 2022
0

The Central Bank of Nigeria’s (CBN) Treasury Bills for a 1-year tenor worth N143.88 billion, which was auctioned on Wednesday,...

Russia reduces interest rate to 11% amid surge of the ruble

Russia reduces interest rate to 11% amid surge of the ruble

by Rate Captain
May 26, 2022
0

Russia’s central bank slashed interest rates to 11% for the third time in less than a month, boosted by lower...

Next Post

African Development Bank Supports Nigeria Against Gas Project Defund.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Google hit by second UK antitrust probe into online ad

Google hit by second UK antitrust probe into online ad

May 27, 2022
Ethereum breaks below $1,800 as selling pressure accelerates

Ethereum breaks below $1,800 as selling pressure accelerates

May 27, 2022

Popular Story

    Rate Captain

    RateCaptain

    We bring you the most accurate in new and market data. Check our landing page for details.

    • FX Rates
    • Commodities
    • Money Market
    • Cryptocurrency
    • Corporates
    • Contact Us

    Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

    No Result
    View All Result
    • FX Rates
    • Commodities
    • Money Market
    • Cryptocurrency
    • Corporates
    • Contact Us

    Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.