London, (Business News Report)|| Cryptocurrencies fell on Monday morning amid uncertainty over the Russian war in Ukraine, and murky buying and selling.
Also, according to the bitcoin blockchain data, a number of long-term holders of the most popular currency are making intense and ambiguous purchases.
In trading on Sunday, the market value of digital currencies fell by 1.96% to reach $1.85 trillion.
The price of Bitcoin (BTC), the world’s largest cryptocurrency, fell 2.54%, to $40,877.75, and its market value reached $776.7 billion.
Bitcoin (BTC) is expected to see a “bigger movement” as early as this week.
In its latest market update, trading suite Decentrader told readers that the time would soon come to “pull the trigger” with liquidity as BTC price action goes up or down.
During an appearance last Tuesday on Bloomberg TV, Galaxy Digital CEO Mike Novogratz predicted that Bitcoin (the world’s largest cryptocurrency) would reach $500,000 within five years.
The highest level that Bitcoin reached on November 10 was at $68,992.
It is reported that officials at the European Parliament’s Committee on Economic and Monetary Affairs voted to amend the language used in the draft Markets in Crypto Assets Bill introduced in 2020.
If members vote to adopt the new rules, it will require Bitcoin and other cryptocurrencies to phase out “Proof of Work” and switch to methods like Proof of Stake, a mechanism that allows cryptocurrency holders to monitor and create their own verification nodes.
Prices of main cryptocurrencies
The price of Ethereum coin (ETH) decreased by 2.13%, recording $2,863.13. The price of Ripple XRP increased by 0.73% to levels of $0.809. On the other hand, the price of the Terra Luna currency LUNA/USD increased by 1.83%, to record levels of 94.37 dollars.
The price of the Cardano coin fell by 1.97% to record $0.8863. Solana’s price declined by 2.60% to the level of $88.42.
The price of Polkadot also fell by 2.64% to levels of $18.81. DOGE’s price also lost 1.83% to $0.1204 levels.