Bitcoin crosses the $40,000 mark
This morning (March 17) Bitcoin surged past the $40,000 mark, a psychologically important threshold, and then rapidly progressed to $41,000, at times close to the $42,000 mark.
At 10:30 am today (Vietnam time) on CoinDesk, the world’s largest cryptocurrency traded at $41,094.96/dong, up 3.36% compared to yesterday (March 16). In the last 24 hours, the highest price of Bitcoin reached $41,454.13 and the lowest at $38,905.68.
Bitcoin price suddenly increased sharply. (Image: Getty Images)
According to CoinGecko data, Bitcoin trading volume over the past 24 hours is close to $30 billion. The capitalization of the Bitcoin market this morning reached more than 780 billion USD.
The momentum of Bitcoin makes many other cryptocurrencies also go up, the crypto market is filled with green. Specifically, compared to the previous 24 hours, Ethereum increased by 5.47%, at a price of $ 2,773; XRP is up 3.94%, priced at $0.792; Terra is up 0.35%, priced at $87.93; Solana rose 6.48%, price to $88.35; Cardano is up 4.98%, price is $0.843; Polkadot is up 6.92%, priced at $ 19.15…
The strong rise of Bitcoin and many cryptocurrencies has pushed the capitalization of the cryptocurrency market higher. The total capitalization of the cryptocurrency market this morning reached more than 1,907 billion USD, an increase of 1.6% compared to yesterday.
Bitcoin bounced up after the US Federal Reserve (FED) decided to raise interest rates by 25 percentage points to 0.25 – 0.5%. The decision of the Fed also made the US stock market flooded.
Not only that, according to analysts, the European Union Parliament’s rejection of the proposal to ban Bitcoin and Ethereum mining is also the driving force behind the cryptocurrency’s price increase.
Before that, many comments were concerned that mining cryptocurrencies like Bitcoin and Ethereum consumes a lot of energy.
Research by Cambridge University’s Center for Alternative Finance shows that Bitcoin mining pools use more electricity in a year than Norway. If considered as a country, Bitcoin would rank 27th in the world in terms of annual electricity consumption.
In addition, the amount of greenhouse gases released into the environment during the mining process is also an alarming problem.
While the EU is struggling with an energy crisis, electricity prices have skyrocketed in the past year. This problem becomes even more complicated when the EU tries to cut off gas supplies from Russia.
Although the proposal was not approved, cryptocurrencies could still come under scrutiny from policymakers as the EU tries to tackle the energy and climate crises.
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at Blogtuan.info – Source: vtv.vn – Read the original article here
