Bitcoin price - live: Crypto market hangs in balance after chaotic week
The price of bitcoin is hovering around $37,000 on Friday, having risen more than $5,000 since Tuesday.
The broader crypto market has mirrored btc’s latest movements but the recovery of Ethereum (ether), dogecoin and Cardano (ada) appears to have stalled. Cryptocurrency analysts have described it as a “make or break” moment for the market, with the next few days being potentially crucial in determining its longer term trajectory.
The bounce back was spurred on by a succession of positive news in the space, including El Salvador officially declaring bitcoin legal tender, as well as more interest from leading banks and hedge funds.
There has also been promising news in terms of bitcoin’s environmental impact, with China cracking down on mining in coal-heavy regions and El Salvador revealing plans to mine cryptocurrency using 100 per cent renewable geothermal energy from volcanos.
Follow all the latest news, analysis and developments right here.
• Iran looks to legalise crypto ‘as soon as possible' Elon Musk will not be involved with the Bitcoin Mining Council, which has been set up to address the environmental …
More on: www.independent.co.uk