{"id":489294,"date":"2022-04-29T12:35:23","date_gmt":"2022-04-29T12:35:23","guid":{"rendered":"https:\/\/wncen.com\/?p=489294"},"modified":"2022-04-29T11:38:07","modified_gmt":"2022-04-29T11:38:07","slug":"bitcoin-briefly-tops-40000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-briefly-tops-40000\/","title":{"rendered":"Bitcoin Briefly Tops $40,000 As More Countries Adopt Crypto"},"content":{"rendered":"

Bitcoin (BTC) prices saw notable volatility on Friday, frequently breaching the $40,000 mark but failing to maintain that level.<\/p>\n

As of this writing, the top cryptocurrency by market capitalization had increased by 3.2 percent during the previous 24 hours, trading at $40,205.<\/p>\n

Bitcoin saw stiff resistance after breaking over that mark, plummeting below $40,000 in less than an hour, according to CoinDesk data.<\/p>\n

Over the next several hours, the world’s most valuable cryptocurrency traded at the previously mentioned price level, occasionally topping it and then falling below $40,000.<\/p>\n

Suggested Reading | What\u2019s In A Name? Ethereum Domain Name Sales Climb 2,300%<\/a><\/em><\/strong><\/p>\n

More Countries Embrace Bitcoin<\/h2>\n

Bitcoin rose alongside US stocks as new evidence of investor accumulation and increased use by nations ranging from Africa to Central and South America emerged.<\/p>\n

The global cryptocurrency market capitalization stood at $1.80 trillion, a little decrease over the previous 24 hours. However, the overall volume of cryptocurrency trade increased by nearly 14% to $95.54 billion.<\/p>\n

Bitcoin traded flat for the second day straight, with virtually little increase. It has been trading in a narrow range over the last few days, according to Mudrex CEO and Co-founder Edul Patel.<\/p>\n

\n

“A similar pattern is anticipated to continue over the next one or two days. Ethereum, the second-largest cryptocurrency, is also trading similarly, with a slight increase. In comparison, the majority of cryptocurrencies have been in the red during the last day, said.<\/h4>\n<\/blockquote>\n

<\/h2>\n
BTC total market cap at $736 billion on the daily chart | Source: TradingView.com<\/a><\/pre>\n
Failing To Sustain Momentum<\/h2>\n
Bitcoin managed to sustain a brief gain during the early hours of Tuesday, but subsequently fell below the $40,000 support level in the afternoon, and has since reached repeated low points throughout the week.<\/p>\n
By Friday, the cryptocurrency Fear and Greed Index had fallen one point to 23, indicating that it remained in “severe fear.”<\/p>\n
On the same day, Bitcoin had an upward correction in response to stronger market indices. However, BTC is facing further selloffs as it strives to break through the $40,000 barrier.<\/p>\n
Suggested Reading | Bitcoin (BTC) Dips Below $40,000 Over Ukraine And Possibility Of Fed Rate Hike<\/a><\/em><\/strong><\/p>\n
Significant Resistance<\/h3>\n
Recent price swings of the cryptocurrency “indicated substantial resistance” in the range of $40,000 to $41,500, according to John Iadeluca, founder and CEO of multi-strategy firm Banz Capital.<\/p>\n
He added that selling pressure has been especially intense “around the $40,000-$40,500 price levels.”<\/p>\n
Meanwhile, the Central African Republic recently became the world’s second country to legalize bitcoin as a form of payment.<\/p>\n
Cuba’s Central Bank announced the issuance of licenses to virtual asset service companies. The license will be offered to Cuban and foreign people and organizations.<\/p>\n
Featured image from Pixabay, chart from TradingView.com<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"
Bitcoin (BTC) prices saw notable volatility on Friday, frequently breaching the $40,000 mark but failing to maintain that level. As of this writing, the top cryptocurrency by market capitalization had increased by 3.2 percent during the previous 24 hours, trading at $40,205. Bitcoin saw stiff resistance after breaking over that mark, plummeting below $40,000 in less than an hour, according to CoinDesk data. Over the next several hours, the world’s most valuable cryptocurrency traded at the previously mentioned price level, occasionally topping it and then falling below $40,000. Suggested Reading | What\u2019s In A Name? Ethereum Domain Name Sales Climb 2,300% More Countries Embrace Bitcoin Bitcoin rose alongside US stocks as new evidence of investor accumulation and increased use by nations ranging from Africa to Central and South America emerged. The global cryptocurrency market capitalization stood at $1.80 trillion, a little decrease over the previous 24 hours. However, the overall volume of cryptocurrency trade increased by nearly 14% to $95.54 billion. Bitcoin traded flat for the second day straight, with virtually little increase. It has been trading in a narrow range over the last few days, according to Mudrex CEO and Co-founder Edul Patel. “A similar pattern is anticipated to continue over the next one or two days. Ethereum, the second-largest cryptocurrency, is also trading similarly, with a slight increase. In comparison, the majority of cryptocurrencies have been in the red during the last day, said. BTC total market cap at $736 billion on the daily chart | Source: TradingView.com Failing To Sustain Momentum Bitcoin managed to sustain a brief gain during the early hours of Tuesday, but subsequently fell below the $40,000 support level in the afternoon, and has since reached repeated low points throughout the week. By Friday, the cryptocurrency Fear and Greed Index had fallen one point to 23, indicating that it remained in “severe fear.” On the same day, Bitcoin had an upward correction in response to stronger market indices. However, BTC is facing further selloffs as it strives to break through the $40,000 barrier. Suggested Reading | Bitcoin (BTC) Dips Below $40,000 Over Ukraine And Possibility Of Fed Rate Hike Significant Resistance Recent price swings of the cryptocurrency “indicated substantial resistance” in the range of $40,000 to $41,500, according to John Iadeluca, founder and CEO of multi-strategy firm Banz Capital. He added that selling pressure has been especially intense “around the $40,000-$40,500 price levels.” Meanwhile, the Central African Republic recently became the world’s second country to legalize bitcoin as a form of payment. Cuba’s Central Bank announced the issuance of licenses to virtual asset service companies. The license will be offered to Cuban and foreign people and organizations. Featured image from Pixabay, chart from TradingView.com<\/p>\n","protected":false},"author":557,"featured_media":489295,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,1119,6664,4925],"class_list":["post-489294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-btc","tag-crypto","tag-digital-assets"],"acf":[],"yoast_head":"\nBitcoin Briefly Tops $40,000 As More Countries Adopt Crypto<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC) prices saw notable volatility on Friday, frequently breaching the $40,000 mark but failing to maintain that level. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Briefly Tops $40,000 As More Countries Adopt Crypto","url":"http:\/\/wncen.com\/news\/bitcoin-briefly-tops-40000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-briefly-tops-40000\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/04\/woman-3373913_1920.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/04\/woman-3373913_1920.jpg?fit=1920%2C1281"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","crypto","digital assets"],"dateCreated":"2022-04-29T12:35:23Z","datePublished":"2022-04-29T12:35:23Z","dateModified":"2022-04-29T12:35:23Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Briefly Tops $40,000 As More Countries Adopt Crypto\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-briefly-tops-40000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-briefly-tops-40000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/woman-3373913_1920.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/woman-3373913_1920.jpg?fit=1920%2C1281\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"crypto\",\"digital assets\"],\"dateCreated\":\"2022-04-29T12:35:23Z\",\"datePublished\":\"2022-04-29T12:35:23Z\",\"dateModified\":\"2022-04-29T12:35:23Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/04\/woman-3373913_1920.jpg?fit=1920%2C1281","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/489294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=489294"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/489294\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/489295"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=489294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=489294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=489294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}