Altcoins
BTC and Altcoins Combat Market Volatility, GameStop Gets Attention
The world of cryptocurrencies has had another roller coaster week, with Bitcoin (BTC) leading the way. The price of BTC surged, fueling optimism, only to experience a sharp decline. This price volatility has been reflected in altcoins, while the emergence of meme stock GameStop (GME) has dominated discussions on Wall Street.
Here’s a closer look at some of this week’s top cryptocurrency news headlines from around the world.
Bitcoin and Altcoins tease investors’ hopes
Bitcoin
Notably, Bitcoin price rose to cross the $71,000 price level this week, sparking bullish discussions within the global crypto community. This price increase occurred against a backdrop of record highs BTC ETF
entries registered for 19 days without interruption, additionally accompanied by an approval from the ETF in Thailand.
As a result of these events, Bitcoin enthusiasts like Adam backco-founder of Apollo Thomas FahrerAnd Robert Kiyosaki predicted an extremely optimistic outlook for the future of crypto. However, as the week grew longer, the flagship crypto crashed at the $69,000 price level, causing investor unease.
In the meantime, it should be noted that BitMEX has revealed a list of Bitcoin futures contracts, along with other cryptos. On the other hand, Bitcoin miner
Core Scientific has entered into a 12-year deal with Nvidia-backed CoreWeave amid growing miner interest in AI.
Altcoins
Simultaneously, most altcoins including Ethereum (ETH) and Solana (SOL) recorded considerable gains, only to follow the falling movement of BTC. The drop in prices of most tokens is due to a crypto market sale reported by CoinGape Media. Meanwhile, even the meme coin sector has mimicked the fading momentum despite DOGE, SHIBAnd PEPE purchases recorded during the last week.
CoinGape Media also highlighted altcoins to avoid exchanges for the coming week.
While the crypto backed by Ripple Labs, XRP
, appears to be poised for a 61,390% price hike. When Robinhood acquired Bit stampspeculation on the stock market listing of XRP Ledger and XRP tokens prevail. Russian President Vladimir Putin also confirmed his intention to launch a payment system for BRICS with XRP in consideration as currency.
Read also: Ripple Labs could have something big in the works in Georgia
GameStop Meme Stock Steals the Show
Finally, this week was marked by a frenzy on Wall Street with the rebound in GME stock. The roaring kitten, aka Keith Gill, fueled a remarkably high price rally for the stock, only to be undermined by GameStop plans to sell 75 million of its shares. However, Keith stays away from the DRY scrutiny despite inventory manipulation.
In the middle of this buzz, VanEck Advisor Gabor Gurbacs showed a sense of dismay in the TradFi system, instead welcoming Bitcoin.
Read also: Crypto Trader Makes $2.4 Million on 12 Coins Meme: Here’s More