Crypto Currency News

Bitcoin price falters and, despite good news, falls below $ 55,000

The main cryptocurrency continues to fail to recover towards $ 60,000

Bitcoin (BTC) ends the week down 3% and continues to fail to recover towards $ 60,000. The leading cryptocurrency came close to breaking that level last Tuesday, but it corrected again. At the close of this note, the price of BTC is $ 54,944.

One of the biggest events of the week for BTC was the launch of a new exchange-traded spot fund (ETF) in Canada. In the United States, the last hopes of an approval before the end of the year were collapsed today with a new rejection of the WisdomTree ETF by the Securities and Exchange Commission (SEC).

Another of the big news of the week has to do with MercadoLibre’s new crypto options. Through MercadoLibre, the largest e-commerce firm in Latin America began accepting cryptocurrencies as a means of payment in Brazil, and hopes to extend the project to the rest of the continent.

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The initiative was born from a partnership with Paxos, the same blockchain infrastructure platform that PayPal and Facebook use, to facilitate crypto trading within the application.

Altcoins

The rest of the crypto market also had a red week end. Ether (ETH), the leading altcoin, is down 2% in the last 24 hours and its price is hovering around $ 4,400. Binance coin (BNB) and XRP are down to the same extent and are trading at $ 609 and $ 0.95, respectively.

Cardano (ADA) tumbled 7% to $ 1.60, while Solana (SOL) corrected 3% to $ 222. Litecoin (LTC), meanwhile, fell 5% and is trading at $ 195.

Lastly, meme cryptocurrencies also suffered heavy corrections. Dogecoin (DOGE) and Shiba Inu (SHIB) are down 3% to stand at $ 0.20 and $ 0.0000409, respectively.

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