Bitcoin May Not Form New Highs Hereafter, Huge ‘Wall of Worry' Strikes the Investors

Bitcoin price currently appears to have to withstand the upward pressure to a large extent as the price hovers close to the recent highs. After undergoing a steep descending trend for nearly 6 days, the asset attempts to stabalize an upward trajectory without much involvement from bears.

Timeline of Bitcoin

Bitcoin (CRYPTO: BTC), the world's oldest cryptocurrency, recorded losses on Thursday, but it still managed to remain above the $23,000 level. However, Ethereum (CRYPTO: ETH), the second-most valued cryptocurrency, continued its bull run with the crypto staying above the $1,600 mark for the second day in a row.

Galoy believes that allowing dollars to flow through Bitcoin will assist in addressing short-term volatility price risk. Volatility is one of the biggest challenges hindering growth of Bitcoin as a means for casual payments.

Bitcoin and Ethereum traded higher on Wednesday evening as the global cryptocurrency market cap rose 1.8% to $1.07 trillion at press time. Price Performance Of Major Coins Coin 24-hour 7-day Price Bitcoin (CRYPTO: BTC) 1.4% 1.5% $23.083.98 Ethereum (CRYPTO: ETH) 3.1% 2.3% $1.647.73 Dogecoin (CRYPTO: DOGE) 2.2% 1.4% $0.07 Top 24-Hour Gainers (Data via CoinMarketCap) Cryptocurrency 24-Hour % Change (+/-) Price Optimism (OP) +33% $2.07 Lido DAO (LDO) +26.8% $2.76 Uniswap (UNI) +13.5% ​​$0.0025 See Also: How To Get Free Crypto Why It Matters: Following a strong performance on Wednesday, risk assets held firm towards the evening.

The flagship cryptocurrency Bitcoin ($BTC) has flashed a rare bottom signal for only the fourth time in its existence, suggesting the bear market may soon be over and that BTC's price could soon start recovering after at one point being down 74% from its peak.

South Korean banks could find themselves in the firing line after the government, media outlets, and regulators stepped up the scrutiny of the banks' role in enabling kimchi premium traders to make fast money when trading volumes rise.

Microstrategy (MSTR) has “outperformed every asset class and big tech stock” since the company adopted a bitcoin strategy and started accumulating the cryptocurrency in its corporate treasury, says CEO Michael Saylor.

It can no longer be denied that the price of bitcoin is being heavily influenced by the macro environment. The stock market correlation had hit a new all-time high earlier in the year, and the crypto market is yet to decouple from it.

The decreasing supply of stablecoins circulating could suggest that the flagship cryptocurrency Bitcoin ($BTC) is set to breakout upwards in the near future, based on historical data.

Bitcoin-native banking software company and creator of El Salvador's Bitcoin beach wallet Galoy raised $4 million. The post Bitcoin beach wallet creator Galoy raises $4 million appeared first on The Block.

MicroStrategy co-founder Michael Saylor has relinquished his position as chief executive after reporting a $1 billion loss on the company's Bitcoin holdings. The post Saylor Steps Down as MicroStrategy CEO to Double Down on Bitcoin appeared first on BeInCrypto.