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Much to the delight of many market participants today, the bitcoin price has climbed 6.1% to $ 51,130, bringing the market capitalization to nearly $ 1 trillion. Against the background of the recent sale, Bitcoin tested support at $ 43,500, after which a rebound began.
During this price correction, cryptokits followed their long-standing tactics and bought up coins.
On Monday, bitcoin returned to the price of $ 50.1 thousand, and whale traders won back this situation by buying on the fall.
Starting from the moment of the dump up to 43.5 thousand dollars, addresses containing from 100 to 10 thousand BTC have accumulated an additional 67 thousand coins, – explained the specialists of the analytical company Santiment.
🐳 #Bitcoin has recovered back to $50.1k Monday, and whale traders played the dip to perfection. Beginning during the dump to $43.5k, addresses holding 100 to 10k $BTC have accumulated 67k more $BTC after dumping the same amount before the price drop. https://t.co/TcTSKBy2v7 pic.twitter.com/JxZL7nGVwR
— Santiment (@santimentfeed) December 6, 2021
Western experts persist in the opinion that Bitcoin and the cryptocurrency market are under pressure due to the spread of the Covid Omicron strain.
As we approach the end of the year, there is a sense of uncertainty across all markets. This is a healthy pullback as all markets seek to adjust to new Fed policies, inflation and Covid concerns.
Inflation is not going to disappear anytime soon, and investors are taking note of this as they seek to hedge themselves with tools such as cryptocurrency, Chris Kline, COO and co-founder of Bitcoin IRA, tried to explain the situation.
It is hard to disagree with the fact that bitcoin is gaining global prominence as more and more countries seek to use this asset class. For example, the largest bank in Colombia, Bancolombia, is making efforts to make Bitcoin trading easier for its clients.
For this, the organization began to cooperate with the Gemini cryptocurrency exchange. Interestingly, this partnership is part of a government-sponsored pilot program.
The Colombian government has approved this one-year pilot program, overseen by the country’s local financial regulator, Superintendencia Financiera de Colombia (SFC).
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