Bitcoin's price rally may add to inflation

  Here's a summary of the latest news on cryptocurrency, as of March 5th, 2024:

Bitcoin:

• Soared to a new all-time high above $69,000: This comes after a continuous surge that began earlier in the year.
• MicroStrategy to raise $600 million to buy more Bitcoin: This move reflects the company's continued bullish stance on the cryptocurrency.
• Bitcoin's price rally may add to inflation: Some experts argue that the increasing value of Bitcoin could contribute to inflationary pressures.

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Other news:

• Binance to cease all Nigerian naira transactions by March 8th: This decision is likely due to regulatory concerns.
• Bitcoin Bridge OrdiZK suffers apparent $1.4 million rug pull: This highlights the continued presence of scams and risks in the crypto space.
• Fantom seeks money back from Multichain's $200 million exploit: This incident underscores the need for robust security measures in DeFi (decentralized finance) protocols.
• Shiba Inu prices briefly dropped 50% on Coinbase: This flash crash caused confusion and losses for some investors.

Overall, the cryptocurrency market is experiencing a period of significant volatility. While Bitcoin reaches new highs, concerns about scams, security, and potential inflationary impact remain present.

It's important to remember that cryptocurrency is a highly volatile and risky investment. It's crucial to conduct your own research and due diligence before investing in any cryptocurrency.

Snapshot of Crypto Currency Today and compare this picture from last 10 years.

The Top 20 Crypto Currencies as of March 5, 2024.

1. Bitcoin $64164.88
2. Ethereum $3622.37
3. Tether $1.00
4. BNB $403.89
5. Solana $131.31
6. XRP $0.616
7. USDC $0.9999
8. Cardano $0.7222
9. Dogecoin $0.1584
10. Shiba Inu $0.00003194
11. Avalanche $41.47
12. Polkadot $9.87
13. TRON $0.1383
14. Chainlink $19.87
15. Polygon $1.08
16. Toncoin $2.63
17. Bitcoin Cash $418.70
18. Uniswap $13.43
19. Internet Computer $ 15.14
20. Litecoin $85.16

Despite the bullish trend for the last 3 months, many of these crypto currencies still way down from their all time high. Do more research before investing your hard earned money.

Thank you for reading.

Dr. EM

Article first published at https://QUE.com partner website