{"id":207371,"date":"2021-08-30T08:15:20","date_gmt":"2021-08-30T08:15:20","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=207371"},"modified":"2021-08-30T08:15:20","modified_gmt":"2021-08-30T08:15:20","slug":"bitcoin-5","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/bitcoin-5\/","title":{"rendered":"Bitcoin loses 6.8% of its value last week"},"content":{"rendered":"

Bitcoin, the most popular cryptocurrency, lost 6.8% of its value last week.<\/p>\n

During Saturday’s trading, the price of the cryptocurrency fell by 0.3% to reach $48,700.<\/p>\n

Despite the highs that the famous currency has experienced during the last period, it remains 25% less than the highest level it reached last April, which amounted to $64,870.<\/p>\n

Digital currencies rose, after the \u201cBitcoin whales\u201d returned to the market, at a time when they fell Friday after the whales achieved profits.<\/p>\n

The price of Bitcoin reached $48,900 on Saturday morning, to record levels of $921.6 billion, while the trading volume was at $31.4 billion since Friday morning.<\/p>\n

Investors are betting on increased spending in the United States, which prompted the cryptocurrency whales to buy and make gains.<\/p>\n

Bitcoin whales<\/strong><\/h2>\n

More mainstream financial services firms have taken steps to invest in the emerging asset class.<\/p>\n

\u201cThe bitcoin accumulated by recent large investors is related to the medium-term change in bitcoin price,\u201d Philip Gradwell, chief economist at Chainalysis, told CNBC.<\/p>\n

Bitcoin \u201cwhale\u201d activity has been linked to price action this year. Those larger investors were a \u201cdriving force\u201d in the market until late February, Gradwell said.<\/p>\n

As big investors acquire more digital assets, prices typically rise over 28 days. When they sell, prices fall, Chainalysis found.<\/p>\n

The cryptocurrency has gained about 82% since hitting its lowest level this year at $27,700 in January.<\/p>\n

In the middle of this month, the price of virtual currencies rose at a time when international companies continued to recognize Bitcoin as a payment currency for the services of companies such as Apple Pay and Google Pay.<\/p>\n

AMC, the operator of cinemas in America, also announced, last Tuesday, that it will be technically ready to accept Bitcoin to book theater tickets by the end of this year.<\/p>\n

The Chedi Andermatt hotel, located in the Swiss Alps region, announced on Friday that it would allow its guests to pay for their stay in the hotel in digital currencies.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin, the most popular cryptocurrency, lost 6.8% of its value last week. During Saturday’s trading, the price of the cryptocurrency fell by 0.3% to reach $48,700. Despite the highs that the famous currency has experienced during the last period, it remains 25% less than the highest level it reached last April, which amounted to $64,870. […]<\/p>\n","protected":false},"author":4,"featured_media":207372,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[278],"class_list":["post-207371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-featured"],"yoast_head":"\nBitcoin loses 6.8% of its value last week | BNReport<\/title>\n<meta name=\"description\" content=\"BNReport - The value of Bitcoin lost 6.8% last week. 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