Markets
BTC and Altcoins fight market volatility, GameStop steals attention
The cryptocurrency world witnessed another rollercoaster week, with Bitcoin (BTC) leading the charge. The price of BTC rose, fueling optimism, only to suffer a sharp decline. This price volatility was mirrored by altcoins, while the emergence of meme stock GameStop (GME) 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 spark investor hopes
Bitcoin
Notably, the price of Bitcoin rose to surpass the $71K price level this week, sparking bullish discussions across the global crypto community. This price rise occurred in a context of record breaking Bitcoin ETF
inflows recorded for 19 consecutive days, further accompanied by an ETF approval in Thailand.
After these events, Bitcoin enthusiasts like Adam backco-founder of Apollo Thomas FahrerIt is Robert Kiyosaki predicted an extremely optimistic outlook for the future of crypto. However, as the week progressed, the major crypto crashed to the price level of US$69 thousand, causing discomfort among investors.
Meanwhile, it is worth noting that BitMEX revealed a listing of Bitcoin futures, along with other cryptocurrencies. On the other hand, bitcoin miner
Core Scientific has secured a 12-year deal with Nvidia-backed CoreWeave amid growing miner interest in AI.
Altcoins
Simultaneously, most altcoins, including Ethereum (ETH) and Solana (SOL), witnessed considerable gains, only to follow BTC’s downward movement. The drop in prices for most tokens is due to a crypto market settlement reported by CoinGape Media. Meanwhile, even the meme coin sector mimicked weakening momentum despite the massive DOGE, SHIBIt is PEPE purchase registered last week.
CoinGape Media also highlighted altcoins to avoid negotiations next week.
Considering that cryptography supported by Ripple Labs, XRP
, appears to be set for a price rally of 61,390%. After the Robinhood acquisition Bit stampspeculation about the listing of XRP and XRP Ledger tokens prevail. Additionally, Russian President Vladimir Putin confirmed plans to launch a payment system for BRICS with XRP considered as currency.
Read too: Ripple Labs Might Have Something Big Brewing in Georgia
GameStop Meme Stock Steals Spotlight
Lastly, this week saw a frenzy on Wall Street with the revival of GME stock. The kitten that roars, aka Keith Gill, fueled a remarkable rise in share prices, only to be undermined by GameStop plans to sell 75 million of its shares. However, Keith remains far from the Seconds scrutiny despite stock manipulation.
In the midst of this hubbub, VanEck advisor Gabor Gurbacs demonstrated a sense of dismay in the TradFi system, welcoming Bitcoin.
Read too: Crypto Trader Earns $2.4 Million From 12 Meme Coins: Here’s More